Sensex and Nifty settled on a higher note today.
New Delhi:
Indian equity benchmarks settled on a higher note today, snapping their four-day losing run. Domestic indices swung back into the green led by a strong buying interest in consumer goods and automobile stocks. But, a plunge in metal and state-owned banks kept the gains in check.
Oil trading below $100 per barrel lifted the fast-moving consumer goods (FMCG) index. Brent was trading slightly higher at $99.82 today, staying under the psychological $100 mark.
A reduction in commodity costs come as a relief for FMCG companies.
The 30-share BSE Sensex rose 345 points or 0.65 per cent to close at 53,761 on Friday, while the broader NSE Nifty moved 111 points or 0.69 per cent higher to settle at 16,049.
Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 gained 0.77 per cent and small-cap climbed 0.37 per cent.
12 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in the green. Sub-indexes Nifty FMCG and Nifty Auto outperformed the NSE platform by rising as much as 1.47 per cent and 2.03 per cent, respectively.
However, Nifty Metal, Nifty PSU Bank and Nifty IT fell as much as 0.81 per cent, 0.43 per cent and 0.15 per cent, each.
On the stock-specific front, Tata Consumer Products was the top Nifty gainer as the stock soared 3.27 per cent to Rs 790.90. Hindustan Unilever, Titan, Tata Motors and L&T were also among the gainers.
The overall market breadth stood positive as 1,776 shares advanced while 1,505 declined on BSE.
On the 30-share BSE index, HUL, Titan, Maruti, L&T, HDFC, M&M, Nestle India, Bharti Airtel, Bajaj Finance, Asian Paints, UltraTech Cement and ITC were among the top gainers with their shares up as much as 2.87 per cent.
In contrast, Tata Steel, PoweGrid, HCL Tech, Wipro, Dr Reddy’s, Axis Bank, IndusInd Bank, TCS, Tech Mahindra, Sun Pharma, SBI and ICICI Bank finished in the red.
Further, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, fell 0.51 per cent to end at Rs 708.55.
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