Benchmarks trade almost flat; FMCG, consumer durables stks climb

The benchmark indices were almost flat in afternoon trade. The Nifty was hovering above 18,050 mark. FMCG and consumer durables stocks were in demand. On the other hand, banks and financial shares corrected after a stellar rally in the previous session.

At 13:40 IST, the barometer index, S&P BSE Sensex fell 11.55 points or 0.02% at 60,600.19. The Nifty 50 index shed 22.75 points or 0.13% at 18,076.15.

The broader market rallied. The S&P BSE Mid-Cap index rose 1.31%. The S&P BSE Small-Cap index gained 1.62%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, shares 2433 rose and 900 shares fell. A total of 111 shares were unchanged.

Index Movers:

Adani Ports & SEZ (up 4.03%), Eicher Motors (up 2.95%), Tata Motors (up 2.79%), Tata Consumer Products (up 2.44%) and ONGC (up 2.41%) were major Nifty gainers.

HDFC Bank (down 1.92%), Bajaj Finserv (down 1.53%), HDFC (down 1.12%), Reliance Industries (down 0.90%) and Hindalco Industries (down 0.81%) were major Nifty losers.

Global Cues:

Most European shares declined while most Asian stocks advanced on Tuesday.

Investors remain closely attuned to developments in Ukraine and prospects for central bank policy around the world in the face of surging inflation. The United States and Europe are considering new punitive sanctions against Russia after allegations of civilian killings in Ukraine.

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