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Indian equities extended their upward momentum as shares in major sugar producers and leading information technology firms posted significant gains. Investors are closely monitoring earnings reports and macroeconomic indicators to gauge the sustainability of the rally.
Indian sugar stocks, including Balrampur Chini and Dhampur Sugar, rallied significantly as domestic sugar prices climbed above Rs 50 per kg due to tight inventories, supply concerns, and festive demand.
Sugar stocks, including Balrampur Chini and Dhampur Sugar, fell sharply after the government allowed duty-free imports of 1 million tonnes of raw sugar until October 31, reversing recent gains.