Indices trade near day's high; FMCG shares rally

Domestic equity barometers were trading firm in mid-afternoon trade, supported by gains in FMCG stocks. At 14:25 IST, the barometer index, the S&P BSE Sensex, jumped 263.06 points or 0.59% at 44,895.71. The Nifty 50 index gained 68.05 points or 0.52% at 13,201.95.

The Sensex hit a record high of 45,033.19 and the Nifty hit a record high of 13,250.30 in morning trade today.

In the broader market, the S&P BSE Mid-Cap index rose 0.25%. The S&P BSE Small-Cap index added 0.15%.

The market breadth was positive. On the BSE, 1487 shares rose and 1320 shares fell. A total of 176 shares were unchanged.

PM Modi Holds All-Party Meeting:

Prime Minister Narendra Modi on Friday held an all-party meeting with the floor leaders of all political parties of the Lok Sabha and Rajya Sabha to discuss the COVID-19 situation in the country and vaccine development.

PM Modi said that experts believe wait for a coronavirus vaccine will not be long, it may be ready in a few weeks. He added that the country will begin the Covid-19 vaccination programme after experts give nod. On price of Covid-19 vaccine, PM Modi said that the Central Government is in talks with the state governments over the price of vaccine and decision regarding it will be taken keeping public health as topmost priority.

Total COVID-19 confirmed cases worldwide stood at 6,52,20,856 with 15,06,250 deaths.

India reported 4,16,082 active cases of COVID-19 infection and 1,39,188 deaths while 90,16,289 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee edged lower to 73.77 as compared to its previous closing of 73.93.

The yield on 10-year benchmark federal paper rose to 5.904% compared with its closing of 5.932% in the previous trading session.

MCX Gold futures for 5 February 2021 settlement rose 0.01% to Rs 49,305.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 90.63.

In the commodities market, Brent crude for February 2020 settlement rose $1.13 to $49.84 a barrel. The contract gained 0.95% or 46 cents to end at $48.71 in the previous trading session.

Buzzing Index:

The Nifty FMCG index rose 1.26% to 32,310.85. The index has gained 1.91% in three sessions.

Hindustan Unilever (up 2.69%), Tata Consumer Products (up 1.66%), United Breweries (up 1.56%), Nestle India (up 1.26%), United Spirits (up 1.18%), Marico (up 1.07%) and ITC (up 0.94%) advanced.

Emami (down 1.67%), Varun Beverages (down 0.90%), Godrej Consumer (down 0.60%) and Colgate-Palmolive India (down 0.45%) declined.

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