Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 23 May 2019

Domestic: The market was stable nationwide. In Maharashtra, Mills are opening their rates at Rs.3100 to Rs.3140/Qntl, whereas in Resell, the rates are Rs.3050 to 3090. In Uttar Pradesh, Mill sales are taking place at Rs.3250 to 3300. In resale, the market rates are Rs.3220 to 3270. In Gujarat, S/30 is trading at Rs.3120 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3300 to Rs.3360 excluding GST.

International: The market is steady. London White Sugar is trading at $325.60 whereas US Sugar is trading at $11.77
The FOB indication for raw sugar was at $320-$322 and Indian White Sugar at $335-$337.

The demand of Raw Sugar range was ₹20000-20200/mt and White Sugar ₹21300-₹21500/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 70.005 meanwhile USD traded with BRL at 4.0404, Crude Futures traded at ₹4243, Crude WTI is trading at $60.45.

Indices: Indexes retreated from record highs hit earlier in the day despite the ruling Bharatiya Janata Party-led National Democratic Alliance (NDA) winning a clear majority in the recently-concluded general elections. The Sensex ended 299 points lower at 38,811 and the NSE Nifty 50 Index fell 0.69 per cent or 81 points to shut shop at 11,657. Losses in FMCG, metals and information technology shares weighed on the benchmarks.

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