Dairy product manufacturers have been surging on the bourses on reports that these companies have slashed milk procurement prices by 11% in the past two months due to a supply glut. Dairies expect the cut in procurement prices to be a short-term phenomenon and therefore, have not passed the price cut to the consumers, reports added.
Meanwhile, Nifty opened at 9,927 level, up by 13 points while Sensex opened at 31,725 level, up by 54 points. 9,990 is a key resistance level for the Nifty50 index. On the downside, supports are seen at 9,880 and 9,850.