Daily Market Update By ‘Vizzie’

ChiniMandi, Mumbai – Friday, 25th January 2019

Domestic: The overall nationwide demand is very poor. In Maharashtra resale is trading at ₹2885-₹2900. Mills are quoting S/30 at ₹2900 and M/30 at ₹2980 to 3020. In Uttar Pradesh there was no demand in first half, later there was good demand seen in the market. M/30 sugar is trading at ₹3120 to 3180. It was also noted that two rakes traded at ₹3450-3455 inclusive all taxes from Dankuni. In Gujarat millers have quoted ₹3020 for S/30 excluding GST. Meanwhile In Kolkata, M/30 was traded at ₹3430 to ₹3460 Ex. Kolkata

• International: The market ended stable. London White Sugar is trading at $345.10, whereas US Sugar is trading at $12.78.
The FOB indication for raw sugar was at $302-$305 and Indian White Sugar at $316-$319

The demand of Raw Sugar range was ₹18800-19000/mt and White Sugar ₹19500-₹19800/MT on Ex.factory basis.

• Currency & Commodity: USD traded with INR at 71.120 meanwhile USD traded with BRL at 3.773, Crude Futures traded at ₹3801, WTI $53.27

• Looking at indices,The BSE benchmark Sensex gave up initial gains and closed 169 points lower at 36,025. In similar movement, the broader NSE Nifty ended 69.25 points down at 10780.

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