Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Wednesday 29th May 2019

Domestic: The market was stable. 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.3270 to 3320. In resale, the market rates are Rs.3260 to 3300. In Gujarat, S/30 is trading at Rs.3120 to 3160. In Tamil Nadu, Mill trades are taking place at Rs.3250 to Rs.3360 excluding GST.

International: The market did not witness any major movement. London White Sugar is trading at $327.60 whereas US Sugar is trading at $11.83

The FOB indication for raw sugar was at $326-$330 and Indian White Sugar at $340-$342.

The demand of Raw Sugar range was ₹20800-21000/mt and White Sugar ₹21600-₹21800/MT on Ex.factory basis.

Currency & Commodity: The rupee was trading against the US dollar at 69.813 meanwhile USD traded with BRL at 4.0248, Crude Futures traded at ₹4027, Crude WTI is trading at $57.52.

Indices: Indian equity markets closed on a negative note on account of US-China trade tensions and fears of an Italy-European Union confrontation growing again. Sensex closed in the red at 39,502, down 247 points today, while Nifty ended 67 points down at 11,861 level.

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