Sugar price at 30-yr high,stocks up 9%

With the poor harvest in the world’s third-largest sugar exporter Australia,price of the commodity reached a 30-year high in London and fuelled the uptrend in the prices back home,said an expert.

Powered by the gain in the sugar prices,Shree Renuka Sugars also witnessed a jump of 5.92 per cent to close at Rs 91.25 on BSE. Besides,another sugar producer Sakthi Sugars ended with a gain of 4.3 per cent at Rs 48.55 on BSE.

Among the other major gainers were—Bajaj Hindusthan (up 4.01 per cent),Balrampur Chini (up 3.21 per cent) and Dwarikesh Sugar (up 2.72 per cent).

Meanwhile,the BSE benchmark Sensex finished the day at 18,449.31,up by 358.69 points from its previous close.