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Shares trade with strong gains; FMCG stocks edge higher

Capital Market 

The key equity indices continued to trade with strong gains in mid-afternoon trade. The Nifty edged near the 14,850 mark. FMCG shares advanced for second day.

At 14:21 IST, the barometer index, the S&P BSE Sensex, was up 552.52 points or 1.12% to 49,753.91. The Nifty 50 index added 157.15 points or 1.07% to 14,840.65.

In broader market, the S&P BSE Mid-Cap index gained 0.88% while the S&P BSE Small-Cap index rose 1.16%.

Buyers outnumbered sellers. On the BSE, 1812 shares rose and 1053 shares fell. A total of 200 shares were unchanged.

Numbers To Track:

In the foreign exchange market, the partially convertible rupee fell to 74.225 compared with its previous closing of 73.42.

The yield on 10-year benchmark federal paper fell to 6.082% as compared to its previous close of 6.122%.

MCX Gold futures for 5 February 2021 settlement added 0.56% to Rs 46,176.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, shed 0.02% to 92.32.

In the commodities market, Brent crude for June 2021 settlement shed 21 cents to $62.74 a barrel. The contract gained 0.95% or 59 cents to settle at $62.74 in the previous trading session.

Buzzing Index:

The Nifty FMCG index rose 1.06% to 34,779.90. The index has added 1.4% in two sessions.

Varun Beverages (up 2.56%), Jubilant Foodworks (up 2.01%), Nestle India (up 1.85%), Godrej Consumer (up 1.67%), Dabur India (up 1.47%), Britannia Industries (up 1.19%), Marico (up 1.19%) and United Breweries (up 0.98%) advanced.

Meanwhile, Tata Consumer Products (up 1.56%), Colgate-Palmolive India (up 0.51%) and Hindustan Unilever (up 0.44%) declined.

Stocks in Spotlight:

RailTel Corporation of India rose 1.51% to Rs 124.45. The company bagged an order worth to Rs 22.38 crore from Controller General of Defence Accounts for setting up network operation centre. It also received order amounting to Rs 11.99 crore from Axom Sabra Siksha Abhiyan Mission for deployment of artificial intelligence-based identification system for capturing attendance and management of SDMIS.

GRM Overseas hit an upper circuit of 5% at Rs 1950.90 after the company said its subsidiary, GRM Foodkraft, has entered into an agreement with Walmart to place its products in Walmart stores.

IDFC First Bank rose 2.08% to Rs 56.45 after the bank successfully raised about Rs 3000 crore through qualified institutional placement (QIP) route. The capital raising committee of board of directors of the bank, at their meeting held on Tuesday (6 April 2021) approved allotment of 52.31 crore shares to eligible qualified institutional buyers at the issue price of Rs 57.35 per equity share. The QIP issue opened on 30 March 2021 and closed on 6 April 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, April 07 2021. 14:22 IST
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