Daily Market Update By ‘Vizzie’

 

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ChiniMandi, Mumbai – Tuesday 5th February, 2019

Domestic: With strong rumours of increase in MSP the market edged up nationwide by ₹15-20. In Maharashtra, millers opened their tenders at ₹2925 to ₹2940.  In resell, S/30 was traded at ₹2885 to ₹2910, In Uttar Pradesh Market, M/30 sugar is trading at ₹3120 to ₹3170. In Gujarat S/30 is trading at ₹2910-₹2980, whereas in Chennai S/30 is trading at ₹3280-3340 including GST.

  • International: The market was quiet, London White Sugar is trading at $340.50 whereas US Sugar is trading at $12.86

The FOB indication for raw sugar was at $300-$303 and Indian White Sugar at $312-$315

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

  • Currency & Commodity: The rupee was trading at 71.75 against the US dollar, meanwhile USD traded with BRL at 3.6722, Crude Futures traded at ₹3904, WTI $54.36
  • Looking at indices, Benchmark equity indices ended marginally higher as investors remained on the sidelines as the RBI’s monetary policy review meeting got underway. After trading in a range through the day, the 30-share Sensex ended 34.07 points, higher at 36,616 Similarly, the NSE Nifty edged up 22.10 points to close at 10,934.

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