Stock market opens bearish, drags down sugar stocks

On Wednesday, benchmark indices commenced the day in a downtrend, pulling sugar stocks along with them into negative territory. Among the sugar stocks facing losses are Dwarikesh Sugar Industries Ltd. (down 4.56%), KCP Sugar & Industries Corporation Ltd. (down 3.24%), KM Sugar Mills Ltd. (down 2.90%), Simbhaoli Sugars Ltd. (down 2.27%), Avadh Sugar & Energy Ltd. (down 1.88%), Shree Renuka Sugars Ltd. (down 1.70%), Kothari Sugars & Chemicals Ltd. (down 1.56%), Rana Sugars Ltd. (down 1.42%), Rajshree Sugars & Chemicals Ltd. (down 1.40%), and Dalmia Bharat Sugar and Industries Ltd. (down 1.37%).

Leading the pack of sugar scrips on the upside are Bannari Amman Sugars Ltd. (up 2.05%), Ponni Sugars (Erode) Ltd. (up 1.14%), and Ugar Sugar Works Ltd. (up 0.74%).

By around 11:15 AM, the NSE Nifty50 index was trading down by 28.61 points at 21,788.85, while the 30-share BSE Sensex witnessed a decline of 91.66 points, settling at 71,920.39.


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