Partner With Us NRI

Benchmarks trade with minor cuts; FMCG shares slides

Published on Jul 02, 2024 14:41

The headline equity indices continued to trade with minor losses in mid-afternoon trade. The Nifty traded below the 24,150 mark after hitting the day�s high of 24,236.35 in early trade. FMCG shares witnessed profit booking after advancing in the past four consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex was down 61.28 points or 0.09% to 79,414.91. The Nifty 50 index lost 28.30 points or 0.12% to 24,113.65.

The Sensex and Nifty clocked an all-time high of 79,855.87 and 24,236.35, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index declined 0.63% and the S&P BSE Small-Cap index shed 0.12%.

The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 46,869.53 and 53,297.26, respectively.

The market breadth was positive. On the BSE, 1,939 shares rose and 1,932 shares fell. A total of 107 shares were unchanged.

Buzzing Index:

The Nifty FMCG index slipped 1.01% to 56,575.10. The index rose 1.61% in past four consecutive trading sessions.

Godrej Consumer Products (down 2.06%), Varun Beverages (down 1.71%), Procter & Gamble Hygiene and Health Care (down 1.49%), Britannia Industries (down 1.42%), Nestle India (down 1.13%), Dabur India (down 0.92%), Radico Khaitan (down 0.68%), Hindustan Unilever (down 0.6%) and Tata Consumer Products (down 0.53%) declined.

On the other hand, Balrampur Chini Mills (up 1.15%), United Spirits (up 0.62%) and United Breweries (up 0.6%) edged higher.

Numbers to Track:

The yield on India`s 10-year benchmark federal shed 0.06% to 7.009 as compared with previous close 7.013.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.4875, compared with its close of 83.4400 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement rose 0.09% to Rs 71,717.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.08% to 105.99.

The United States 10-year bond yield shed 0.54% to 4.455.

In the commodities market, Brent crude for September 2024 settlement gained 49 cents or 0.57% to $ 87.09 a barrel.

Stocks in Spotlight:

Welspun Specialty Solutions surged 5.35% after the company emerged as L-1 (lowest) bidder by Bharat Heavy Electricals (BHEL) for Rs 117.17 crore.

Pennar Industries rallied 4.86% after the company decided to expand its manufacturing operations in the Northern part of India by establishing a new plant at Raebareli, Uttar Pradesh.

Powered by Capital Market - Live News