Nifty climbs above 22,050; FMCG shares advance

The frontline indices traded with significant gains in the morning trade. The Nifty traded above the 22,050 mark. FMCG shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex gained 380.56 points or 0.53% to 72,787.02. The Nifty 50 index jumped 130.90 points or 0.60% to 22,088.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.52% and the S&P BSE Small-Cap index added 0.31%.

The market breadth was positive. On the BSE, 2,048 shares rose and 1,373 shares fell. A total of 173 shares were unchanged.

Results Today :

Tata Motors (up 0.62%), Eicher Motors (up 0.70%), Cipla (up 0.54%), Union Bank of India (down 0.91%), Bank of Baroda (down 0.48%), Bank of India (up 0.11%), ABB India (up 1.37%), Finolex Industries (up 2.46%), Kalyan Jewellers (up 0.73%), Dr Lal PathLabs (up 1.12%) and Thermax (up 0.69%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty FMCG index gained 1.31% to 55,338.25. The index fell 2.46% in the past trading session.

ITC (up 2.26%), United Breweries (up 1.84%), Colgate-Palmolive (India) (up 1.49%), United Spirits (up 1.4%), Varun Beverages (up 1.11%), Hindustan Unilever (up 1.09%), Nestle India (up 1%), Marico (up 0.74%), Balrampur Chini Mills (up 0.52%) and Britannia Industries (up 0.39%) advanced.

On the other hand, Dabur India (down 0.58%), Radico Khaitan (down 0.54%) and Godrej Consumer Products (down 0.33%) edged lower.

Stocks in Spotlight:

Brigade Enterprises rose 0.57%. The company said that it has signed definitive agreement for prime land parcel spread across 4.6 acres, located on Old Madras Road, Bengaluru.

Bharat Petroleum Corporation advanced 3.17%. The companys Net profit declined 30.29% to Rs 4,789.57 crore in the quarter ended March 2024 as against Rs 6,870.47 crore during the previous quarter ended March 2023. Sales declined 1.32% to Rs 1,16,554.73 crore in the quarter ended March 2024 as against Rs 1,18,115.39 crore during the previous quarter ended March 2023.

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