Indices trade with modest gains, FMCG shares edge higher

The domestic equity benchmarks traded with decent gains in mid-afternoon trade. The Nifty traded a tad above the 19,100 level. FMCG stocks declined after rising in the past trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 212.88 points or 0.33% to 63,995.68. The Nifty 50 index added 57.95 points or 0.30% to 19,105.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.01% while the S&P BSE Small-Cap index gained 0.05%.

The market breadth was positive. On the BSE, 1,893 shares rose and 1,802 shares fell. A total of 194 shares were unchanged.

Buzzing Index:

The Nifty FMCG index fell 0.49% to 51,141.40. The index rose 0.89% in the past trading session.

Procter & Gamble Hygiene and Health Care (down 1.83%), Marico (down 1.59%), Godrej Consumer Products (down 1.29%), Colgate-Palmolive (India) (down 0.95%), Britannia Industries (down 0.8%), ITC (down 0.7%), Dabur India (down 0.41%), Hindustan Unilever (down 0.36%), United Breweries (down 0.29%) and Tata Consumer Products (down 0.06%) edged lower.

Numbers to Watch:

The yield on India`s 10-year benchmark federal paper advanced 0.11% to 7.359 from its previous close of 7.351.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.2625, compared with its close of 83.2525 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.05% to Rs 61,184.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.12% to 106.68.

The United States 10-year bond yield gained 0.33% to 4.862.

In the commodities market, Brent crude for December 2023 settlement lost 88 cents or 0.97% to $89.60 a barrel.

Stocks in Spotlight:

Oberoi Realty rose 1.76% after the realtor`s consolidated net profit surged 43.36% to Rs 456.76 crore in Q2 FY24 as against Rs 318.62 crore for Q2 FY23. Revenue from operations for Q2 FY24 increased to Rs 1,217.41 crore, up by 76.8% from Rs 688.59 crore posted in corresponding quarter previous year.

Pfizer added 0.24% after the pharma company`s net profit tumbled 52.11% to Rs 148.96 crore in Q2 FY24 as against Rs 311.07 crore recorded in Q2 FY23. Revenue from operations declined 9.77% year on year to Rs 575.21 crore during the quarter.

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