INDICES TRADE WITH DECENT GAINS; FMCG SHARES ADVANCE

The domestic equity benchmarks traded with limited gains in the morning trade. The Nifty traded above the 22,550 mark. FMCG shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 132.61 points or 0.18% to 74,086.08. The Nifty 50 index added 27.70 points or 0.12% to 22,556.75.

In the broader market, the S&P BSE Mid-Cap index fell 0.20% and the S&P BSE Small-Cap index added 0.12%.

The market breadth was positive. On the BSE, 1,729 shares rose and 1,725 shares fell. A total of 161 shares were unchanged.

Results Today :

Sun Pharmaceutical Industries (down 1.38%), Power Grid Corporation of India (down 0.84%), Grasim Industries (down 0.49%), One 97 Communications (PayTM) (down 1.42%), FSN E-Commerce Ventures (Nykaa) (up 0.45%), Max Healthcare Institute (up 2.14%), Torrent Power (down 1.54%), Petronet LNG (down 0.91%), New India Assurance (up 7.49%), Jubilant Foodworks (down 0.45%), Metro Brands (down 0.46%), Gland Pharma (down 0.47%), Star Cement (up 1.25%), HEG (up 2.50%), Avanti Feeds (down 0.28%), Indigo Paints (down 0.79%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty FMCG index gained 1.26% to 55,662.80. The index shed 0.41% in the past trading session.

Dabur India (up 2.6%), Marico (up 2.14%), Hindustan Unilever (up 2.13%), Godrej Consumer Products (up 1.81%), Britannia Industries (up 1.78%), ITC (up 1.31%), Procter & Gamble Hygiene and Health Care (up 1.08%), Nestle India (up 0.9%), United Spirits (up 0.5%) and Tata Consumer Products (up 0.48%) advanced.

On the other hand, United Breweries (down 0.45%), Colgate-Palmolive (India) (down 0.06%) and Radico Khaitan (down 0.01%) edged lower.

Stocks in Spotlight:

PNC Infratech rallied 7.78% after the company said that it has been declared as lowest bidder (L1) for two EPC projects of Maharashtra States Road Development Corporation (MSRDC) for an aggregate value of Rs 4,994 crore.

PI Industries rose 1.92% after the company`s consolidated net profit of jumped 31.68% to Rs 369.50 crore in the quarter ended March 2024 as against Rs 280.60 crore during the previous quarter ended March 2023. Sales increased 11.20% to Rs 1,741 crore in the quarter ended March 2024 as against Rs 1,565.60 crore during the previous quarter ended March 2023.

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