A number of sugar companies in India are awaiting government approval for loans from the Sugar Development Fund to set up co-generation power units or ethanol plants.
ugar mills in UP owe thousands of crores to cane farmers.
The markets opened weak in line with its Asian peers
Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
Top gainers from the Sensex pack are Asian Paints, Bajaj Auto, ITC, NTPC, L&T and HDFC, all up 2% each
Sensex ended strong, Tata Steel, HUL climb higher.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
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