Market Now: Sugar stocks climb on fresh rise in demand
NEW DELHI: Sugar stocks Empee Sugars & Chemicals (up 4.96 per cent), Indian Sucrose (up 4.90 per cent) and EID ParryBSE 4.32 % (up 4.85 per cent) climbed up to 5 per cent in morning trade on Tuesday on fresh rise in demand of the commodity in the retail market.
Stocks such as K.M.Sugar Mills (up 4.63 per cent), Uttam Sugar Mills (up 4.09 per cent), MAGADHSUGAR (up 3.48 per cent), BAJAJHIND (up 3.42 per cent), Rana SugarsBSE 3.67 % (up 3.21 per cent), AVADHSUGAR (up 2.92 per cent), Gayatri Sugars (up 2.74 per cent), Dharani Sugars & Chemicals (up 2.27 per cent) and Mawana Sugars (up 1.64 per cent) were also among the gainers.
However, stocks such as Piccadily Sugar & Allied Inds (down 13 per cent), Ponni Sugars (Erode) (down 4.05 per cent), Kesar Enterprise (down 3.49 per cent), Balrampur Chini MillsBSE -1.98 % (down 1.98 per cent), Sir Shadi Lal Enterprises (down 1.50 per cent) and Triveni Engineering & Industries (down 0.25 per cent) were in the red around the same time.
Equity benchmarks Nifty50 and Sensex rose on Tuesday, tracking firm global cues on reports of trade negotiations between the US and China, easing fears of a trade war.
Investor sentiment was buoyed after the government announced borrowing of Rs 2.88 lakh crore in the April-September period of 2018-19, lower than Rs 3.72 lakh crore it had borrowed in the first half of the current fiscal, and introduce bonds linked to CPI or retail inflation, PTI reported.
The NSE Nifty50 index was trading 43 points up at 10,174 around 10:25 am (IST), while the 30-share BSE Sensex was up 125 points at 33,191.
Shares of Axis Bank and ICICI Bank were trading with gains of over 2 per cent in the Sensex index.
Bharti Airtel, on the other hand, declined up to 2 per cent in the Sensex kitty.
Source: Economic Times – Published on: 27th Mar 2018