Stock market update: Sugar stocks slump; Avadh Sugar slides 5%

NEW DELHI: Most of the sugar stocks were in the red in Monday's morning trade.

Shares of Avadh Sugar (down 5.39 per cent), Simbhaoli Sugars (down 4.73 per cent), Piccadily Sugar & Allied (down 3.90 per cent), Piccadily Agro Industries (down 3.85 per cent) and Mawana Sugars (down 3.68 per cent) were among the top losers.

Dwarikesh Sugar Industries (down 3.61 per cent), Triveni Engineering & Industries (down 2.81 per cent) and Uttam Sugar Mills (down 2.24 per cent) too were trading with gains.

While Rana Sugars (up 4.85 per cent), Indian Sucrose (up 4.41 per cent) and DCM Shriram Industries (up 2.62 per cent) were among the top gainers.

The NSE Nifty50 index was trading 32.40 points down at 12,319.95, while the 30share BSE Sensex was down 93.52 points at 41,851.85 at around 10:07 am.

Power Grid Corporation of India (up 4.53 per cent), ICICI Bank (up 1.33 per cent), ITC (up 1.08 per cent), Oil & Natural Gas Corporation (up 1.0 per cent) and Asian Paints (up 0.77 per cent) were among the top gainers in the Nifty pack.

On the other hand, Sun Pharmaceutical Industries (down 1.67 per cent), HCL Technologies (down 1.38 per cent), Tata Consultancy (down 1.35 per cent), Kotak Mahindra Bank (down 1.28 per cent) and Reliance Industries (down 1.12 per cent) were trading in the red.