Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Monday 4th February, 2019

Domestic: There was slight demand nationwide today. In Maharashtra, millers continued to open their tenders at ₹2910 to ₹2930. In resell, S/30 is trading at ₹2890 to ₹2900, In Uttar Pradesh, the market witnessed some ease, M/30 sugar is trading at ₹3100 to ₹3150. In Gujarat S/30 is trading at ₹2930-₹2980, whereas in Chennai S/30 is trading at ₹3300-3340.

• International: The demand is soft in terms of prices; London White Sugar is trading at $335.00 whereas US Sugar is trading at $12.56
The FOB indication for raw sugar is at $300-$303 and Indian White Sugar at $312-$315

The demand of Raw Sugar range is ₹18600-18800/mt and White Sugar ₹19300-₹19500/MT on Ex.factory basis.

• Currency & Commodity: The rupee was trading 43 paise lower at 71.68 against the US dollar, meanwhile USD traded with BRL at 3.681, Crude Futures traded at ₹3968, WTI $55.12

• Looking at indices, the benchmark BSE Sensex recovered from the day’s low and ended 113.31 points higher at 36582. The NSE Nifty also edged higher by 18.60 points and closed at 10912.

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