INDICES TRADE NEAR FLAT LINE; FMCG SHARES DECLINE

The domestic equity benchmarks reversed all losses and traded with some positive bias in early afternoon trade. The Nifty traded above the 25,900 level after hitting the day�s low of 25,886.85 in early trade. FMCG shares declined after advancing for the past three consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex was up 8.50 points or 0.01% to 84,939.37. The Nifty 50 index rose 3.60 points or 0.01% to 25,942.65.

The Sensex and Nifty clocked an all-time high of 85,058.55 and 25,981.50, respectively in morning trade.

In the broader market, the S&P BSE Mid-Cap index added 0.08% and the S&P BSE Small-Cap index rose 0.02%.

The S&P BSE Small-Cap index and S&P BSE Mid-Cap index hit an all-time high at 57,728.08 and 49,701.15, respectively.

The market breadth was negative. On the BSE, 1,913 shares rose and 1,937 shares fell. A total of 124 shares were unchanged.

Derivatives:

The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, rose 0.36% to 13.84. The Nifty 26 September 2024 futures were trading at 25,955.15, at a premium of 6.35 points as compared with the spot at 25,868.30.

The Nifty option chain for the 26 September 2024 expiry showed maximum Call OI of 131.4 lakh contracts at the 27,000 strike price. Maximum Put OI of 130.5 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty FMCG index fell 0.80% to 65,776.60. The index advanced 1.97% in the past three consecutive trading sessions.

Hindustan Unilever (down 1.92%), Nestle India (down 1.83%), Dabur India (down 1.25%), Varun Beverages (down 1.24%) and Godrej Consumer Products (down 0.99%), Marico (down 0.63%), Colgate-Palmolive (India) (down 0.6%), ITC (down 0.44%), Britannia Industries (down 0.29%) and United Spirits (down 0.11%) edged lower.

On the other hand, Balrampur Chini Mills (up 2.17%) ,Radico Khaitan (up 0.19%) and Tata Consumer Products (up 0.14%) advanced.

Stocks in Spotlight :

Larsen & Toubro (L&T) rose 0.96%.The company�s power transmission & distribution (PT&D) vertical secured �Mega� order in the Middle East for expanding and strengthening the electricity grids at high voltage level.

Coal India added 1.16% after the company informed that it has entered into a joint venture agreement (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RRUVNL) to establish brownfield thermal power project in Rajasthan.

Punjab National Bank fell 2.08%. The bank informed that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 109.16 per share.

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