Sugar stocks are buzzing led by Avadh Sugar, Uttam Sugar, Dalmia Bharat Sugar and Sakthi Sugars which zoomed up to 20 percent after government approved hiking the price of ethanol produced directly from sugarcane juice for blending in petrol by 25 percent.
The Indian stock market continues to trade on positive note this Friday afternoon with the Nifty50 up 84 points and is trading at 11,453 while the Sensex is trading higher by 202 points at 37,920.
The realty sector is outperforming, up over 2 percent led by Indiabulls Real Estate, Oberoi Realty, Brigade Enterprises, HDIL, DLF, Phoenix Mills and Prestige Estates.
The pharma index is also up 2 percent with gains from Aurobindo Pharma and Divis Laboratories which jumped 3 percent each followed by Glenmark Pharma, Dr Reddy's Labs and Sun Pharma.
From the banking space, YES Bank added 3 percent followed by IndusInd Bank, Punjab National Bank and State Bank of India.
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Auto stocks are also buzzing with gains from Maruti Suzuki, Eicher Motors, Ashok Leyland, Tata Motors and TVS Motor Company.
HPCL and BPCL have added 3-4 percent while Indian Oil Corporation gained close to 3 percent. Reliance Industries is also trading in the green.
Metal stocks are also shining led by Jindal Steel & Power, Tata Steel and SAIL, Hindustan Copper, Hindalco Industries, Hindustan Zinc and JSW Steel..
However, IT stocks are down this Friday afternoon dragged by Infosys, Mindtree, KPIT Tech and TCS.
From the BSE smallcap space, sugar stocks have taken the pole position led by Mawana Sugars, Avadh Sugar, Uttam Sugar, Dalmia Bharat Sugar and Sakthi Sugars which zoomed up to 20 percent after government approved hiking the price of ethanol produced directly from sugarcane juice for blending in petrol by 25 percent .
Indiabulls Housing Finance, BPCL, UPL, HPCL and Vedanta are the top gainers on the Nifty.
The most active stocks include Reliance Industries, Maruti Suzuki, YES Bank, Axis Bank and Tata Consultancy Services.
The top BSE gainers include Jindal Hisar, Balrampur Chini, Ganlues India, RCF and Tata Steel.
Monnet Ispat, Intellect Design and Sonata Software are few stocks which hit new 52-week high this Friday afternoon.
On the other hand, 50 stocks have hit new 52-week low including names like 3i Infotech Limited, Gammon Infra, IL& FS Transport and Snowman Logistics among others.
The breadth of the market favoured advances, with 1244 stocks advancing, 434 declining and 385 remaining unchanged. On BSE, 1718 stocks advanced, 692 declined and 157 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.