INDICES OFF DAY`S HIGH; FMCG SHARES RALLY FOR 8TH DAY IN ROW

The frontline equity barometers came off the day`s high in early afternoon trade. The Nifty traded above the 24,600 level. FMCG shares extended gains for the eighth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 115.37 points or 0.14% to 80,782.17. The Nifty 50 index rose 45.90 points or 0.19% to 24,632.60.

The Sensex and Nifty clocked an all-time high of 80,898.3 and 23,692.25 respectively in mid-morning trade.

In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index gained 0.53%. The S&P BSE Mid-Cap index hit an all-time high at 48,175.21.

The market breadth was strong. On the BSE, 2,199 shares rose and 1,586 shares fell. A total of 134 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, added 1.25% to 14.37. The Nifty 25 July 2024 futures were trading at 24,668.20, at a premium of 35.6 points as compared with the spot at 24,632.60.

The Nifty option chain for the 25 July 2024 expiry showed maximum Call OI of 37.5 lakh contracts at the 25,000 strike price. Maximum Put OI of 61.2 lakh contracts were seen at 23,500 strike price.

Buzzing Index:

The Nifty FMCG index rose 0.76% to 60,525.15. The index jumped 6.07% in eight consecutive trading sessions.

Hindustan Unilever (up 2.47%), Tata Consumer Products (up 1.96%), Marico (up 1.85%), United Breweries (up 1.62%), Balrampur Chini Mills (up 1.47%), Dabur India (up 1.06%), Colgate-Palmolive (India) (up 1.06%), Godrej Consumer Products (up 0.89%), Britannia Industries (up 0.79%) and Radico Khaitan (up 0.4%) advanced.

On the other hand, Varun Beverages (down 1.32%), United Spirits (down 0.79%) and Nestle India (down 0.48%) edged lower.

Stocks in Spotlight :

Jio Financial Services fell 2.36% after the NBFC reported a 5.81% decline in consolidated net profit to Rs 312.63 crore in Q1 FY25 from Rs 331.92 crore posted in Q1 FY24.

Spicejet jumped 5.71% after the company reported standalone net profit of Rs 119 crore in Q4 FY24, steeply higher than Rs 16.85 crore posted in Q4 FY23.

Century Textiles and Industries rallied 4.13% after the company said that its wholly owned subsidiary Birla Estates has acquired a 5-acre land parcel in Sector 71, Gurugram.

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