Yesterday’s closing dated –10/10/2023
◾London White Sugar – 719.70s -1.40 (-0.19%)
◾NYBOT Raw Sugar #11 – 27.05s -0.13 (-0.48%)
◾USD/BRL- 5.0518 +0.0003 (+0.00%)
◾USD/INR – 83.25 +0.0175 (-0.02%)
◾Brent Crude – $87.65 -0.50 (-0.57%)
◾BSE Sensex – 66,079.36 (+566.97 points)
◾NIFTY50 – 19,689.85 (+177.50 points)
After nearing a 12-year high, sugar prices on Tuesday closed moderately lower on the back of good sugar production in Brazil. Unica reported that Brazil’s Centre-South sugar output in the second half of September rose +98% year on year to 3.364 MMT, and that sugar output in the 2023-24 crop year through September rose +23.8% year on year to 32.615 MMT.
Sensex and Nifty closed with gains on Tuesday following a rebound in global markets. According to analysts, moderation in US bond yields on expectations that interest rates are likely to remain stable in the short term revived demand for rate-sensitive shares. However, the situation in Israel continues to be threatening, as the war has escalated. It will be interesting to see how the geo-political development pans out for domestic bourses in the coming days.
