Market trade with substantial gains; FMCG shares rally for 2nd day

The domestic equity benchmarks traded with moderate gains in the mid- afternoon trade. The Nifty traded above the 22,150 level. FMCG shares extended gains for the second consecutive trading session.

At 14:26 IST, the barometer index, the S&P BSE Sensex, gained 448.87 points or 0.62% to 72,875.51. The Nifty 50 index added 145.25 points or 0.66% to 22,185.95.

In the broader market, the S&P BSE Mid-Cap added 0.65% and the S&P BSE Small-Cap index gained 0.99%.

The market breadth was strong. On the BSE, 2,529 shares rose and 1,396 shares fell. A total of 150 shares were unchanged.

Buzzing Index:

The Nifty FMCG index rose 0.96% to 54,034.10. The index gained 1.33% in the past two trading sessions.

Emami (up 4.45%), United Breweries (up 2.02%), United Spirits (up 1.9%), ITC (up 1.58%), Nestle India (up 1.3%), Tata Consumer Products (up 0.98%), Procter & Gamble Hygiene and Health Care (up 0.78%), Marico (up 0.62%), Varun Beverages (up 0.61%) and Hindustan Unilever (up 0.57%) advanced.

Numbers to Track:

MCX Gold futures for 5 April 2024 settlement rose 0.28% to Rs 62,051.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 104.18.

The United States 10-year bond yield rose 0.21% to 4.308.

In the commodities market, Brent crude for March 2024 settlement lost 73 cents or 0.87% to $82.74 a barrel.

Stocks in spotlight:

PB Fintech soared 10.30% after its wholly owned subsidiary, Policybazaar Insurance Brokers received approval from IRDAI for upgradation of license to composite insurance broker.

Ramkrishna Forgings jumped 3.99% after the firm announced that it has made an additional investment by way of rights issue in the equity share capital of Ramkrishna Aeronautics (RAPL).

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