Benchmarks trade in range; broader market outperforms

Benchmark indices traded sideways with small gains in morning trade. The Nifty was trading above 17,100 mark. FMCG, pharma and realty stocks rallied while auto and banks shares corrected.

At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 95.45 points or 0.17% at 57,443.47. The Nifty 50 index gained 38.9 points or 0.23% at 17,115.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index was up 0.6% while the S&P BSE Small-Cap index added 0.54%.

The market breadth was strong. On the BSE, 1923 shares rose and 894 shares fell. A total of 125 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 218,376,489 with 4,542,472 global deaths.

India reported 389,583 active cases of COVID-19 infection and 439,529 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Buzzing Index:

The Nifty FMCG gained 1.53% to 40,251. The index has added 5.28% in seven trading sessions.

Marico (up 3.78%), Varun Beverages (up 2.39%), Jubilant Foodworks (up 2.37%), Hindustan Unilever (up 2.31%), Colgate Palmolive (up 2.11%), United Breweries (up 1.99%), Dabur (up 1.7%) and United Spirits (up 1.69%) were top gainers in FMCG space.

Stocks in Spotlight:

Eicher Motors fell 0.21%. The company's total motorcycles (Royal Enfield) sales slipped 9% to 45,860 units in August 2021 from 50,144 units in August 2020. Sequentially, the company's total motorcycles rose 4.13% in August 2021 over 44,038 units sold in July 2021. While sales of models with engine capacity upto 350cc lost 17% to 38,572 units, sales of models with engine capacity exceeding 350cc decreased 11% to 7,288 units in August 2021 as against August 2020. Exports surged 164% to 6,790 units in August 2021 as against 2,573 units in August 2020.

Coal India rose 0.89%. The state-run coal major's coal production increased 14.6% to 42.6 million tonnes (MT) in August 2021 from 37.2 MT in August 2020. The company's coal offtake stood at 48.6 MT last month, up 9.5% compared with 44.4 MT recorded in the same month last year.

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