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Nifty traded in a very narrow range of 43 points last day by making a high of 10425 and a low of 10382 to close at 10402. The Cash Market Benchmark Index Small Cap made a high of 8272 and closed at 8215 after making a low of 8175.
The major sectors in the market like Metals and Mining, Cements, Pharma and IT were slightly positive from their previous day’s close. Among the minor Sectors, Sugar was the leading one. Sugar Sector was up by 3.99 percent.
Shares of sugar companies jumped in early trade after Reuters had reported on Monday that the government is likely to provide financial support to cane farmers for produce sold to sugar mills. According to the report, the government plans to pay Rs 55 a tonne to cane farmers, while mills would pay the rest of the state-set price. The industry is reeling under a glut and struggling to export because of low global prices. Dwarkesh Sugar was up by 10.35 percent, Balrampur Chini by 5.08 percent and Triveni by 5.02 percent.
Nifty Future is opening gap up by 9 points against yesterday’s close of 10421 as indicated by SGX Nifty which is currently trading at 10435.
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