Agri stocks trade mixed as all eyes on Union Budget 2020

Shares of Rallis India, Dhanuka Agritech and P I Industries gained 1% each, while, UPL and Meghmani Organics slipped marginally.

Feb 01, 2020 10:02 IST India Infoline News Service

Equity benchmark indices have erased all early losses and have gained strong momentum led by HUL, RIL and Bajaj Finance.

The stock market slumped in the early amid global weakness also losses in heavyweights such as Tata Steel, HDFC Bank, HCL Tech, Infosys, TCS, Reliance, HeroMotoCorp.

The Sensex is up 70.83 points at 40,794, and the Nifty up 17 points at 11,978. About 1,001 shares have advanced, 564 shares declined, and 74 shares are unchanged.

FM Nirmala Sitharaman will present the budget for the next financial year in the Lok Sabha at 11.00 a.m and this will be her second Budget presentation.  To address agrarian distress, the government may consider announcing certain measures like crop insurance, food processing, minimum support price, new subsidies, which may bring agrochemical companies in focus today.

Meanwhile, shares of Rallis India, Dhanuka Agritech and P I Industries gained 1% each, while, UPL and Meghmani Organics slipped marginally.

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