June brought consistency in the world wine market as expectations of high release prices were well and truly met. As a result the exchange turnover hit a new all-time high, that is, up 34% on last month.
June brought consistency in the world wine market as expectations of high release prices were well and truly met. As a result the exchange turnover hit a new all-time high, that is, up 34% on last month.
June was essentially a month that represented stability and consistency, especially the wine market. Liv-ex Fine Wine 100 index ended the month with a value of 304.67, a marginal hike of 2.8% on the previous month. The index is up 40.9% year-on-year and 27.3% year-to-date.
The wine stock, however, witnessed some upwards movement towards the month end. The 2009 en primeur campaign finally gained some momentum by end of June as the wine world welcomed the release of the first major Left and Right Bank wines. With expectations of high release prices being well and truly met, trade in back vintages was brisk. Lafite, remained the truly the most favourite wine of the exchange but other First Growths too had their shares in the success story as all of them enjoyed a robust trade across multiple vintages. Exchange turnover hit a new all-time high as a result, up 34% on last month.
The Liv-ex 100 Fine Wine Index rose 4.4% to reach 294, continuing its rapid ascent. The index is up 23.8% year-to-date and 37.2% year-on-year. The Liv-ex Claret Chip finished the month at 355, gaining 5.6% on April.
The Liv-ex Claret Chip Index was up 3.4% to 366.8 in the month to 30 June 2010. The index is up 53.8% year-on-year and up 35.2% year-to-date.
The Indian stock market too remained consistent even though the gain was marginal. It was because the investors chose to trade cautiously taking the negative cues from global markets. Sell-off in metal, IT and banks stocks exerted pressure while consumer durable and FMCG stocks capped the losses. A weak opening was on the cards as the global market continued to show negative traits. Price of Asian stocks dropped overall followed by the weak US markets overnight which were struck by an unexpected drop in the US existing home sales and weak energy stocks and the impact reached India also. The Sensex fell flat in the face of a negative approach as National Stock Exchange’s Nifty closed at 5320.60, down 2.55 points or 0.05 per cent. The index hit intraday high of 5348.30 and low of 5284.90.
Bombay Stock Exchange’s Sensex ended at 17730.24, down 25.70 points or 0.14 per cent. BSE Midcap Index was up 0.12 per cent and BSE Smallcap Index moved 0.17 per cent higher.
Amongst the sectoral indices, BSE Realty Index fell 0.78 per cent and BSE Oil&gas slipped 0.66 per cent. BSE FMCG Index advanced 1.01 per cent and BSE Capital Goods Index moved 0.77 per cent higher. The rise of best wine and beverage coolers retailers also contribute to the growth of the stocks. This allows for more opened doors for businesses related to wine and other beverages.
The Liv-ex 100 Fine Wine Index rose 4.4% to reach 294, continuing its rapid ascent. The index is up 23.8% year-to-date and 37.2% year-on-year..
