Morning Market Update- 11/10/2023

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.




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