Daily Market Update By ‘Vizzie’ – 20/06/2019

ChiniMandi, Mumbai – Thursday 20th June 2019

Indian: The sugar market continued with a bearish trend for the third straight day. Sugar mills in Maharashtra, are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, prices are Rs.3040 to 3080. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3320. In resale, the rates are Rs.3250 to 3290. In Gujarat, S/30 is trading at Rs.3140 to 3200. In Tamil Nadu, Mill trades are taking place at Rs.3235 to Rs.3350 excluding GST.

International: No major movement was witnessed. London White Sugar price is trading at $332.80 whereas US Sugar price is trading at $12.48.

The FOB indication for raw sugar price was at $336-$338 and Indian White Sugar at $352-$355.

The demand of Raw Sugar range was ₹21000-21300/mt and White Sugar ₹22000-₹22200/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.411 meanwhile USD traded with BRL at 3.8390, Crude Futures traded at ₹3886, Crude WTI is trading at $55.75.

Indices: The BSE Sensex surged 1.25 per cent or 489 points to close at 39,601.63 and the NSE Nifty 50 Index climbed 1.2 per cent or 140 points to close at 11,832.

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