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Stock Market in Red: Why These 4 Sugar Stocks Defied the Downturn with a Sharp Surge, Surprising Investors
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Sugar Stocks Soar Amid Market Dip: Balrampur Chini, Dhampur Lead Rally
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CNBC Awaaz
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04-03-2026, 13:46
Sugar Stocks Soar Amid Market Dip: Balrampur Chini, Dhampur Lead Rally
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Despite widespread market selling, sugar stocks like Balrampur Chini, Dhampur Sugar, Shree Renuka Sugar, and Bajaj Hindusthan surged 4-9%.
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The rally is driven by a jump in global sugar prices, linked to rising crude oil due to the US, Israel-Iran conflict.
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Higher oil prices encourage a shift towards ethanol production, potentially reducing sugar supply and increasing prices.
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Analyst Mike McDougall noted speculators covered short positions due to high energy prices, boosting sugar market volume.
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Balrampur Chini gained 6.06%, Shree Renuka Sugar 6.39%, Dhampur Sugar 4.09%, and Bajaj Hindusthan 9.10%.
Read Full Article on Cnbc in Hindi
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