Stock market update: Sugar stocks mixed a day after Centre approves bailout package

NEW DELHI: Sugar stocks were trading mixed during Thursday's trade, a day after the Centre announced a Rs 8,500 crore package to boost farmers' income by creating a buffer stock for sugar, enhancing ethanol production capacity and fixing a minimum selling price to cut mill losses.

Magadh Sugar (up 7.97 per cent), Monnet Project Developers (up 4.95 per cent), Riga Sugar Company (up 3.47 per cent) and Dharani Sugars & Chemicals (up 3.40 per cent) were the top gainers among the sugar stocks.

K.M.Sugar Mills (up 2.97 per cent), Bannari Amman Sugars (up 2.27 per cent), KCP Sugar & Industries (up 1.96 per cent), Triveni Engineering & Industries (up 1.88 per cent), Dalmia Bharat Sugar & Industries (up 1.06 per cent) and Uttam Sugar Mills (up 1.01 per cent) were also among the gainers.


On the other hand, Dhampure Specialty Sugars (down 7.69 per cent), Thiru Arooran Sugars (down 6.33 per cent), Ponni Sugars (Erode) (down 5.43 per cent) and Parvati Sweetners and Power (down 4.82 per cent), Indian Sucrose (down 4.36 per cent) and Empee Sugars & Chemicals (down 4.07 per cent) were the top losers among sugar stocks.

The NSE Nifty50 index was trading 101 points up at 10,785, while the 30-share BSE Sensex was up 331 points at 35509 around 11:40 am.

In the Nifty index, 40 stocks were up and 10 were down around that time.

Vedanta, Axis Bank, ICICI Bank and Tata Steel were trading as the top gainers in the Nifty index.