Barometers pare gains; FMCG stocks advance

The domestic equity barometers were trading with small gains in mid-afternoon trade. The Nifty held above the 15,650 mark. FMCG shares firmed up on value buying after a two-day losing streak.

At 14:22 IST, the barometer index, the S&P BSE Sensex, was up 74.39 points or 0.13% to 56,033.37. The Nifty 50 index added 32.50 points or 0.20% to 16,657.10.

The Sensex hit a record high of 56,198.13 while Nifty attained an all-time high of 16,712.45 in mid-morning trade today.

The broader indices outperformed the barometers. The S&P BSE Mid-Cap index rose 0.47%. The S&P BSE Small-Cap index gained 0.73%.

 

In the broader market, Linde India (up 15.57%), TCNS Clothing Co. (up 15.50%), The Great Eastern Shipping Company (up 8.20%), Ircon International (up 7.26%) and Hindustan Aeronautics (up 6.72%) advanced.

Star Cement (down 5.38%), Indo Count Industries (down 4.52%), Central Depository Services (India) (down 3.57%), CCL Products (India) (down 3.52%) and Gujarat State Fertilizers & Chemicals (down 2.89%) declined.

Buyers outpaced sellers. On the BSE, 2045 shares rose and 1091 shares fell. A total of 120 shares were unchanged.

Buzzing Index:

The Nifty FMCG index rose 0.79% to 38,536.70. The index declined 0.94% in the past two sessions.

Jubilant Foodworks (up 4%), Godrej Consumer (up 2.56%), Varun Beverages (up 2.37%), Dabur India (up 1.17%), Nestle India (up 1.13%) and Britannia Industries (up 0.83%) were the top index gainers.

Marico (down 1.57%), United Breweries (down 1.28%) and United Spirits (down 0.82%) declined.

Stocks in Spotlight:

Wabco India fell 1.37% to Rs 7072.55 after the offer for sale (OFS) opened for non-retail investors today, 25 August 2021. Through the OFS, the company's promoter ZF International UK proposes to sell up to 3,80,432 equity shares (representing 2.01% stake) of the company.

The floor price for the OFS is Rs 6,900 per equity share, a 3.78% discount to Wabco India's closing price of Rs 7170.85 on Tuesday, 24 August 2021. ZF International UK held 2.01% stake in the company as on 30 June 2021.

As on 14:15 IST, the OFS received subscription for 54,432 shares. It was subscribed 15.90% on the non-retail offer size of 3,42,388 shares.

Kaveri Seeds gained 2.44% to Rs 593.55 after the company's board approved a proposal to buyback equity shares worth upto Rs 120 crore. The company proposes to buyback shares at maximum price of Rs 850 each.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee rose to 74.2450 from its previous closing of 74.1925.

MCX Gold futures for 5 October 2021 settlement shed 0.46% to Rs 47,393.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 92.92.

In the commodities market, Brent crude for October 2021 settlement added 12 cents or 0.17% to $70.93 a barrel.

The yield on 10-year benchmark federal paper rose to 6.248% from its previous close of 6.250%.

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