NEW DELHI: Most sugar stocks were trading in the red in morning trading session on Thursday, a day after the government increased the minimum price sugar mills pay to cane growers.The government on Wednesday increased the minimum price sugar mills pay to cane growers by Rs 20 per quintal to Rs 275 per quintal for the next marketing year starting October, PTI reported.
Piccadilly Sugar and Allied Industries (down 7.98 per cent), Dhampure Specialty Sugars (down 5 per cent) and Balrampur Chini Mills (down 5 per cent) were among the top losers.Dwarikesh Sugar Industries (down 4.46 per cent), DCM Shriram Industries (down 4.21 per cent), Dharani Sugars Chemicals (down 4.20 per cent), Dhampur Sugar Mills (down 4.13 per cent), Kesar Enterprise (down 3.89 per cent), Triveni Engineering Industries (down 3.78 per cent) and Avadh Sugar Energy (down 3.04 per cent) too found themselves among the losers.
Equity benchmarks were subdued amid mixed Asian cues.
Rupee also weakened against the US dollar while oil prices rose in global markets.Bank, metal, financial and auto counters were experiencing the heat of selling.The NSE Nifty50 index was trading 22 points down at 10,958 around 09:55 am.
The 30-share BSE Sensex was up 16 points at 36,389 around the same time.
ONGC, Bharti Airtel and Vedanta were leading among the Sensex gainers.However, HDFC, TCS and Kotak Mahindra Bank were among the top losers in the Sensex index.