Benchmarks at the day`s high; FMCG stocks in demand

The domestic equity benchmarks were currently at the day`s high in mid-afternoon trade. The Nifty traded above the 16,100 mark. FMCG stocks witnessed across the board.

At 12:26 IST, the barometer index, S&P BSE Sensex was up 934.38 points or 1.76% to 53,908.22. The Nifty 50 index rose 281.60 points or 1.78% to 16,123.90.

In the broader market, the S&P BSE Mid-Cap index gained 1.17% while the S&P BSE Small-Cap index added 1.53%.

The market breadth was strong. On the BSE, 2,454 shares rose while 761 shares fell. A total of 114 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of market`s expectation of volatility over the near term, fell 1.90% to 24.06. The Nifty 26 May 2022 futures were trading at 16,108.05 at a discount of 30.85 points as compared with the spot at 15,846.80.

The Nifty option chain for the 26 May 2022 expiry showed maximum Call OI of 39.8 lakh contracts at the 17,000 strike price. Maximum Put OI of 47.6 lakh contracts was seen at 16,000 strike price.

Buzzing Index:

The Nifty FMCG index rose 1.62% to 37,355.90. The index had declined 0.35% to end at 36,759.50 yesterday.

ITC (up 3.19%), Britannia Industries (up 2.48%), United Breweries (up 2.30%), Godrej Consumer (up 1.54%), United Spirits (up 1.58%), Hindustan Unilever (up 1.52%), Varun Beverages (up 1.39%) and Marico (up 0.95%) advanced while Tata Consumer Products (down 1.82%) and Colgate-Palmolive India (down 0.71%) declined.

Stocks in Spotlight:

Dodla Dairy jumped 5.42% to Rs 509. The company`s consolidated net profit zoomed to Rs 40.5 crore in Q4 FY22 from Rs 9.6 crore in Q4 FY21. Operating revenues increased by 11% to Rs 589.7 crore in Q4 FY22 over Q4 FY21.

Raymond advanced 4.36% to Rs 849. The company`s consolidated net profit zoomed to Rs 263 crore in Q4 FY22 from Rs 56 crore in Q4 FY21. Net revenue increased by 44% YoY to Rs 2,032 crore during the quarter.

Multi Commodity Exchange of India (MCX) rose 0.42% to Rs 1182.55. On a consolidated basis, MCX`s net profit fell 5% to Rs 36.53 crore on 9.8% increase in net sales to Rs 106.46 crore in Q4 March 2022 over Q4 March 2021.

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