Yesterday’s closing dated –04/10/2023
◾London White Sugar – 691.20s +2.10 (+0.30%)
◾NYBOT Raw Sugar #11 – 25.93s +0.26 (+1.01%)
◾USD/BRL- 5.1555 -0.0007 (-0.01%)
◾USD/INR – 83.222 -0.228 (-0.27%)
◾Brent Crude – 85.81 -5.11 (-5.6%)
◾BSE Sensex – 65,226.04 (- 0.44 per cent)
◾NIFTY50 – 19,436.10 (-0.47 per cent)
There was a recovery in sugar prices on Wednesday from 5-week lows and closed moderately higher. The weather agency, Rural Clima Meteorlogia said Brazil’s top sugarcane growing areas might receive frequent rains through October, which raised concerns that rains might slow the pace of sugarcane crushing and reduce sugar output.
Back home, the rupee depreciated 3 paise to settle at 83.23 (provisional) against the US dollar amid sustained foreign fund outflows weighed on investor sentiments.
The bourses continued their downward journey at closing on Wednesday. There was broad-based selling, as fears over higher interest rates for a longer period continued to weigh down on global equities.
