Markets rebound; FMCG gains

The markets had recovered from its intra-day low levels,Sensex recovered from the lows of 20,449. The Sensex was at 20,589 up 27 points and Nifty was higher by 13 points at 6171.

Most of the European markets opened in the green with FTSE adding 1.72% or 103 points at 6001, CAC was higher by 3 points or 0.17% at 3907 while DAX was in the red down by a point at 6987.

Back home Reliance Infrastructure was the top gainer on the Sensex, the stock was trading higher by 2.6% at Rs 885, Hindustan Unilever, ITC, index heavyweight reliance Industries, NTPC, Jindal Steel and Wipro were also among the gainers. On the other hand Bajaj Auto continued to remain the top loser down nearly 3% at Rs 1433, ICICI Bank, State Bank of India and Bharti Airtel down more than 1.2%.

BSE FMCG index led the dectoral pack the index was higher by 1.57% or 57 points at 3750, Oil & Gas index was higher by more than 1% or 111 points at 10,710. BSE healthcare, IT, power and Teck and metal indices were also higher by more than 0.2% each. MSE banking index- Bankex continued to remain the top sectoral loser, the index is trading lower by 1.69% or 227 points at 13,226. auto, PSU, consumer durables and realty indices were also trading in the negative territory.

Among the FMCG stocks Hindustan Unilever was the top gainer the stock was trading higher by 2.7% at Rs 321 followed by ITC, Dabur, Tata Global Beverages, Marico and Nestle were also among the gainers on the FMCG charts. Indusind Bank, ICICI Bank, Bank of India, State Bank of India, Union Bank of India and Federal Bank were among the major losers on the bankex charts.

The broader markets continued to remain flat, mid-cap index was at 7885 up 12 points and the small-cap index was higher by 37 points at 9882.

The overall market breadth was positive as 1533 stocks advanced  while 1287 stocks declined.