NEW DELHI: A majority of sugar stocks were falling in Monday's trade.Sugar stocks have been facing headwinds lately in the form of a glut in production.
Uttam Sugar Mills (down 5.43 per cent), Rana Sugars (down 5.08 per cent), Indian Sucrose (down 4.92 per cent), Dwarikesh Sugar Industries (down 4.08 per cent), Mawana Sugars (down 3.95 per cent) and Ugar Sugar Works (down 3.11 per cent) were the top losers among the sugar stocks during Monday's trade.
Bajaj Hindusthan Sugar, Dalmia Bharat Sugar and Industries, Dhampur Sugar Mills, Dwarikesh Sugar Industries, KCP Sugar and Industries Corporation, Mawana Sugars, Sakthi Sugars, Ugar Sugar Works and Uttam Sugar Mills hit 52-week lows on NSE in Monday's trade.The NSE Nifty index was trading 15 points up at 10,822, while the BSE Sensex was up 60 points at 35,596 around 11:15 am.Equity benchmarks were cautious after various exit polls released over the weekend suggests no clear winner in the Karnataka elections.
Disappointing macroeconomic data, released on Friday, too dented market sentiment.
Industrial output growth fell to a five-month low of 4.4 per cent in March due to a decline in capital goods production and deceleration in mining activity and power generation, PTI reported.Inflation data will be released later today.IT, metal, realty and auto stocks were under pressure, whereas pharma, bank, financial and FMCG stocks were catching buyers' attention.