Daily Market Update By ‘Vizzie’

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ChiniMandi, Mumbai – Thursday 30th 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 $327.00 whereas US Sugar is trading at $11.87

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 69.885 meanwhile USD traded with BRL at 3.9770, Crude Futures traded at ₹4136, Crude WTI is trading at $59.11.

Indices: Benchmark indices Sensex and Nifty ended on a positive note on Thursday amid weak Asian markets hit by US-China trade tension, ahead of May F&O expiry. Another major domestic cue for the day was PM Narendra Modi taking oath along with a new council of ministers for a second term at 7pm.

S&P Sensex traded positively to close at 39,831, by 329 points Similarly, at the closing bell, the broader index Nifty, advanced up by 84 points to close at 11,945 level.

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