Daily Sugar Market Update by ‘Vizzie’ – 19/09/2019

135

ChiniMandi, Mumbai – Thursday 19th September 2019

Domestic: The market witnessed a slow demand.
Maharashtra: S/30 Sugar trades took place at Rs.3180 to Rs.3220/Qntl whereas M/30 trades took place at Rs.3225 to Rs.3370.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3380 to 3430.
Gujarat: S/30 Sugar is trading at Rs.3225 to Rs.3255 and M/30 Rs.3350 to 3470.
Kolkata: The trades for M/30 are taking place at Rs.3745 to 3795.
Tamil Nadu: S/30 Sugar is trading at Rs.3350 to Rs.3525 whereas M/30 is trading at Rs.3525 range.
*All domestic rates except Kolkata are excluding GST

International Market: Sugar has been trading range bound and waiting for macros support. London White Sugar front month contract is trading at $322.10/tn whereas US Sugar front month contract is trading at 11.04 cnts/lb at 16:41 hours. The relatively lesser Thais on October London might look relatively bullish for the October NY expiry at the end of this month, but interestingly October continues to be range bound except Monday’s rally which was more on the back of Crude.

Currency,Commodity & Indian Indices: The rupee was trading against the US dollar at 71.356 meanwhile USD traded with BRL at 4.1108, Crude Futures traded at Rs.4219, Crude WTI traded at $59.24. Indian benchmark equity indices, the BSE Sensex and NSE Nifty50, slipped to multi-week lows on as the absence of positive catalysts kept sentiment largely in check, while investors laid off heavy bets after the US Federal Reserve delivered mixed signals about its next move. The week so far has been marred by concerns over surging crude prices and slowing economic growth both at home and globally. The indexes have shed more than 2.5 percent each so far this week. Sensex closed 470.41 points lower at 36,093.47 while Nifty 50 closee 135.85 points lower at 10,704.80.

To Listen to this News click on the button below the image.

LEAVE A REPLY

Please enter your comment!
Please enter your name here