Daily Market Price Updates and Commentar 7th August 2025

The October No.11 contract opened at 16.14 and initially drifted lower to 15.97, marking the session’s low during early trading. This dip was short-lived, as the market gained momentum through mid-morning, with buying interest, possibly speculative or commercial in nature, pushing prices steadily higher. The contract peaked at 16.27 in early afternoon trade, reflecting improved sentiment or short covering. However, resistance at the highs triggered selling pressure in the latter half of the session, driving prices back down. Despite brief support attempts near 16.10, the market continued to fade into the close, settling at 16.03, a few points below the open. The failure to hold gains suggests a lack of conviction at higher levels and may indicate further consolidation unless fresh drivers emerge.

White Sugar Update

The session opened at 462.90 and briefly dipped to 461.00 during the early morning, marking the day’s low. From there, the market staged a strong rally, climbing steadily throughout the late morning and early afternoon to reach the session high of 471.40. This upside moves likely reflected short covering or a reaction to strength in broader commodities. However, the gains proved unsustainable. Selling emerged near the highs and persisted through the afternoon, with the market retracing nearly the entire rally. Despite a modest recovery effort into the close, prices ultimately settled at 462.10, almost unchanged on the day and just below the open. The sharp reversal from intraday highs may suggest waning bullish momentum and a lack of follow-through buying interest.