Barometers trade with small losses; FMCG stocks in demand

The domestic equity barometers were trading with small losses in early afternoon trade. The Nifty hovered a tad below the 17,350 mark. FMCG shares advanced.

At 12:24 IST, the barometer index, the S&P BSE Sensex, was down 31.92 points or 0.04% to 58,218.34. The Nifty 50 index declined 9.55 points or 0.06% to 17,343.95.

In the broader market, the S&P BSE Mid-Cap index rose 0.16% while the S&P BSE Small-Cap index added 0.31%.

The market breadth was positive. On the BSE, 1713 shares rose and 1299 shares fell. A total of 176 shares were unchanged.

Investor sentiment was dampened amid fears that the delta variant of the COVID-19 virus may slow down economic recovery.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 222,509,916 with 4,595,999 deaths. India reported 393,614 active cases of COVID-19 infection and 441,749 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 1.17% to 14.24. The Nifty September 2021 futures were trading at 17,333, at a premium of 19.1 points compared with the spot at 17,361.05.

The Nifty option chain for 30 September 2021 expiry showed maximum Call OI of 17.8 lakh contracts at the 17,500 strike price. Maximum Put OI of 41.9 lakh contracts was seen at 17,000 strike price.

Buzzing Index:

The Nifty FMCG index rose 0.71% to 40,549.30. The index fell 0.07% yesterday. It has risen 2.58% so far in September 2021.

Procter & Gamble Hygiene (up 3.12%), Nestle India (up 2.19%), Marico (up 1.69%), Colgate-Palmolive India (up 1.29%), United Breweries (up 0.95%), ITC (up 0.90%) and Hindustan Unilever (up 0.63%) advanced.

Concurrently, Varun Beverages (down 1.33%), Dabur India (down 0.55%), Emami (down 0.22%) and Godrej Consumer (down 0.18%) declined.

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