Nifty trades near 26,150 mark; FMCG shares drop

The key equity indices traded with minor gains in early trade as the Nifty traded near the 26,150 mark. Trading activity remained range-bound amid the absence of strong global economic triggers, the New Year holiday and the expiry of the weekly Sensex derivatives contract.

FMCG shares declined after advancing in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 28.29 points or 0.03% to 85,248.89. The Nifty 50 index 9.90 points or 0.08% to 26,148.55.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.26% and the S&P BSE Small-Cap index dropped 0.27%.

The market breadth was positive. On the BSE, 1,876 shares rose and 1,610 shares fell. A total of 211 shares were unchanged.

Buzzing Index:

The Nifty FMCG index declined 2.17% to 54,274.60. The index jumped 0.80% in the past trading session.

ITC (down 5.37%), United Spirits (down 0.8%), Radico Khaitan (down 0.7%), Tata Consumer Products (down 0.64%), Emami (down 0.58%), Hindustan Unilever (down 0.5%), Dabur India (down 0.41%), Varun Beverages (down 0.33%), Marico (down 0.28%) and United Breweries (down 0.25%) declined.

Stocks in Spotlight:

Kalpataru Projects International (KPIL) declined 1.19%. The company along with its joint venture, has secured new orders worth approximately Rs 719 crore.

Blue Dart Express spurted 5.15% after tax authorities largely dropped a Rs 420.78 crore GST demand on its subsidiary Blue Dart Aviation.

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