Sugar stocks have opened the week in a sea of red amid volatility in Iran-Israel relations and a looming threat of full-scale war. The top losers in the sugar scrips are Balrampur Chini at (-0.38), DCM Shriram Inds (-0.72), Bannari Amman Sugar (-1.18%), Avadh Sugar (-161), MVK Agro (- 1.86%) and EID Parry (-1.94).
Other sugar stocks trading with losses are – Ponni Sugar Erode, Zuari Industries, Triveni Engg. Ind., Uttam Sugar Mills, Rana Sugars, Dhampur Sugar, Dhampur Bio, Dalmia Bharat, Ugar Sugar Works, Shree Renuka Sugar, KCP Sugar & Inds., Magadh Sugar, Bajaj Hindusthan, Dwarikesh Sugar, Vishwaraj Sugar, Mawana Sugars, KM Sugar Mills, Simbhaoli Sugar, Rajshree Sugars, Davangere Sugar, Kothari Sugars, Sakthi Sugars and Dollex Agrotech. Both Sensex and Nifty are also trading in the negative territory.
Iran is retaliating against Israel over the strike in the Syrian capital on April 1, which killed seven Islamic Revolutionary Guard Corps members. Geopolitical experts said that the situation in the Palestinian-Israeli conflict zone and between Lebanon and Israel remains volatile.
