On BSE, Madras Fertilisers (locked at the 10% upper ceiling to Rs 21.65), Mangalore Chemicals (up 6.78% to Rs 7.40), EID Parry (up 5.98% to Rs 120.50), Deepak Fertilisers (up 5.99% to Rs 28.30), Dharamsi Morarji (up 5.29% to Rs 8.75), RCF (up 5.26% to Rs 39), Godavari Fertilisers (locked at 5% upper circuit to Rs 81.45), GNFC (up 4.85% to Rs 37.85), FACT (up 3.24% to Rs 33.50), Oswal Chemicals & Fertilisers (up 3.15% to Rs 5.90), National Fertilisers (up 3.66% to Rs 68), Zuari Industries (up 2.90% to Rs 30.20), Nagarjuna Fertilisers & Chemicals (up 1.84% to Rs 7.73), Coromandel Fertilisers (up 1.58% to Rs 73.90), SPIC (up 1.49% to Rs 8.17) and Chambal Fertilisers (up 1.47% to Rs 17.20), all gained, though in varying degrees.

GSFC, however, was trading lower by 4.68% to Rs 23.40.

Dealers say the overall fertiliser sector is in the limelight on hopes that revenues of this sector will increase on improved demand following normal monsoons (expected) in India. Till now, the monsoons has been satisfactory. This momentum is expected to continue throughout the season.

RCF, Madras Fertilisers, Godavari Fertilisers, National Fertilisers and FACT are also rising on hope that they will be privatised soon.

In the last one week, the fertilisers sector, comprising 23 companies, added 19.25% or Rs 1,615.51 crore in market capitalisation (m-cap) to Rs 10,009.39 crore (Rs 8,393.88 crore). In the last quarter (3 months), the m-cap has risen by 87.31% from Rs 5,343.86 crore on 27 March 2003.