Market Now: Sugar stocks sag; Simbhaoli Sugars among top losers

NEW DELHI: Most of the sugar stocks extended their fall on Wednesday in the backdrop of oversupply and limited offtake.

Sugar stocks Dharani Sugars & Chemicals (down 9.65 per cent), Simbhaoli Sugars (down 8.70 per cent), Dalmia Bharat Sugar & Industries (down 6.99 per cent), Dwarikesh Sugar Industries (down 6.50 per cent), Triveni Engineering & Industries (down 6.36 per cent), Dhampur Sugar Mills (down 5.94 per cent), Rajshree Sugars & Chemicals (down 5.91 per cent), Sakthi Sugars (down 5.88 per cent), Uttam Sugar Mills (down 5.84 per cent) and Ponni Sugars (Erode) (down 5.81 per cent) declined over 5 per cent during Wednesday's trade.

The sugar industry has asked the government to allow export of 15 lakh tonnes of the commodity to manage surplus production, ET reported.


Sustained selling in bank, financial, pharma and metal stocks were keeping the benchmark indices in the negative terrain.

The NSE Nifty50 index was down 61 points at 10,188, while the BSE Sensex was 164 points down at 33,153.

Among the 50 stocks in the Nifty50 index, 17 were trading in the green, while 33 were in the red.

HCL Technologies, Kotak Mahindra Bank, Zee Entertainment, Bajaj Auto and ITC were among the top gainers in the Nifty50 index, while Bharti Airtel, State Bank of India, ONGC, Indiabulls Housing Finance and Adani Ports SEZ were among the top losers.