ChiniMandi, Mumbai – Wednesday 25th September 2019
Domestic: The market is continuing to witness poor demand nationwide. Marketmen expect the demand to pick with Navratri round the corner.
Maharashtra: S/30 Sugar trades took place at Rs.3130 to Rs.3170/Qntl whereas M/30 trades took place at Rs.3180 to Rs.3320.
Uttar Pradesh: The market trades for M/30 are taking place at Rs.3345 to 3390.
Gujarat: S/30 Sugar is trading at Rs.3180 to Rs.3190 and M/30 Rs.3290 to 3410.
Kolkata: The trades for M/30 are taking place at Rs.3700 to 3740.
Tamil Nadu: S/30 Sugar is trading at Rs.3340 to Rs.3515 whereas M/30 is trading at Rs.3400 to 3525.
*All domestic rates except Kolkata are excluding GST
International Market: As we had suggested, market seems to be in bullish mode, decent rally was seen yesterday. Today, London White Sugar front month contract is trading at $334.5/tn whereas US Sugar front month contract is trading at 11.69cnts/lb at the time of writing this update. UNICA report was published yesterday with reports suggesting sugar mix of 35.1% was lower the market estimates as mills shift to produce more ethanol to cash in the rally in crude.
Currency, Commodity & Indian Indices: The rupee traded against the US dollar at 71.029 meanwhile USD traded with BRL at 4.1934, Crude Futures traded at Rs.4012, Crude WTI traded at $56.31. Indian equity markets continued to consolidate for second consecutive session as investors turned to profit-booking. Sentiments were also impacted as market participants adjusted their position ahead of expiry of Futures and Options (F&O) contracts for the September series on Thursday. Sensex slipped down 503.62 points to close at 38,593.62 whereas Nifty 50 closed down 148 points at 11,440.
To Listen to this News click on the button below the image.