Indices trade with decent gains; Nifty hovers at 17,150

The benchmark indices traded with decent mid afternoon trade, amid firmness in index pivotal. All the sectoral indices on the NSE were in the green. The Nifty index hovered at the 17,150 level. Domestic indices saw buying after two days of profit selling.

At 14:33 IST, the barometer index, S&P BSE Sensex surged 603.92 points or 1.07% at 57,183.63. The Nifty 50 index jumped 189.25 points or 1.12% at 17,143.05.

In broader market, the S&P BSE Mid-Cap index gained 1.46% while the S&P BSE Small-Cap index added 0.75%.

The market breadth was positive. On the BSE, 2,174 shares rose while 1,044 shares fell. A total of 134 shares were unchanged.

Buzzing Index:

The Nifty FMCG index gained 1.57% to 37751.9, snapping its two day losing streak. The index corrected 2.2% in two days.

Godrej Consumer Products (up 4.03%), Tata Consumer Products (up 3.19%), United Spirits (up 2.61%), Radico Khaitan (up 2.29%) and Marico (up 2.18%) were the top gainers. Among the other gainers were Britannia Industries (up 2.17%), Hindustan Unilever (up 1.7%), ITC (up 1.12%), Dabur India (up 1.04%) and Colgate-Palmolive (India) (up 1.04%).

Numbers to Track:

The yield on the 10-year benchmark federal paper rose to 7.056% from its previous close of 7.043%.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 76.6425, compared with its close of 76.6450 during the previous trading session.

MCX Gold futures for 3 June 2022 settlement rose 0.34% to Rs 51,570.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.13% to 101.9.

In the commodities market, Brent crude for June 2022 settlement fell 49 cents or 0.48% at $101.83 a barrel.

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