Morning Market Update – 22/08/2024

Yesterday’s closing dated – 21/08/2024

◾London White Sugar (SWV24) – 505.60s (+3.10)

◾NYBOT Raw Sugar #11 (SBV24) – 17.65s (+0.08)

◾USD/BRL- 5.4858 (0.0000)

◾USD/INR – 83.905 (+0.140)

◾Brent Crude – 76.05 (-1.15)

◾BSE Sensex – 80905.30 (+102.44)

◾NIFTY50 – 24770.20 (+71.35)

October NY world sugar #11 (SBV24) on Wednesday closed up +0.08 (+0.46%), and Oct London ICE white sugar #5 (SWV24) closed up +3.10 (+0.62%).

Sugar prices on Wednesday posted moderate gains as a slump in the dollar index (DXY00) to a 7-1/2 month low, which sparked some light short covering in sugar futures.

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