Fertiliser stocks in demand; surge up to 10%

Fertiliser stocks gained as much as 10 per cent today amid media reports that the fertiliser ministry has prepared a roadmap for rationalisation of subsidy for the sector.

National Fertilizers surged 9.91 per cent, while Gujarat Narmada Valley Fertilizers climbed 7.06 per cent.

Similarly, shares of Rashtriya Chemicals and Fertilizers rose by 6.38 per cent, while Chambal Fertilisers gained 6.02 per cent and Gujarat State Fertilizers jumped 5.06 per cent on the BSE.

According to market reports, the government will soon clear the 2013/14 outstanding subsidy payments for the fertilizer sector.

Meanwhile, the broader market saw selling pressure, with the benchmark Sensex ending 52.76 points lower at 24,805.83.