ChiniMandi, Mumbai – Tuesday 27th August 2019
Indian: The market continued to witness quietness nationwide owing to await announcement of quota for the month of September. Mills are opening their rates at Rs.3110 to Rs.3130/Qntl, whereas in Resell, prices are Rs.3100 to 3120. In Uttar Pradesh, Mill sales are taking place at Rs.3230 to 3370. In resale, the rates are Rs.3310 to 3350. In Gujarat, S/30 is trading at Rs.3180 to 3300. In Tamil Nadu, Mill trades are taking place at Rs.3350 to Rs.3455 excluding GST.
International: The market was stable. London White Sugar is trading at $309.8 whereas US Sugar is trading at $11.43. The FOB indication for raw sugar was at $325-$330 and Indian White Sugar at $340-$345. The demand of Raw Sugar range was ₹20200-20500/mt and White Sugar ₹21500-₹21800/MT on Ex.factory basis.
Currency, Commodity & Indian Indices: The rupee was trading against the US dollar at 71.47 meanwhile USD traded with BRL at 4.1506, Crude Futures traded at ₹3885, Crude WTI is trading at $54.18. Markets remained volatile but traded higher on Tuesday as the Reserve Bank of India’s (RBI) decision to transfer Rs 1.76 lakh crore to the government’s coffer lifted banking, NBFCs and automobile stocks. The benchmark S&P BSE Sensex settled with gains of 147 points at 37,641 level. On the other hand, the broader Nifty50 closed at 11,105 mark, up 48 points.
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