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Nifty climbs above 22,050; FMCG shares advance

Published on May 10, 2024 10:37

The frontline indices traded with significant gains in the morning trade. The Nifty traded above the 22,050 mark. FMCG shares advanced after declining in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex gained 380.56 points or 0.53% to 72,787.02. The Nifty 50 index jumped 130.90 points or 0.60% to 22,088.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.52% and the S&P BSE Small-Cap index added 0.31%.

The market breadth was positive. On the BSE, 2,048 shares rose and 1,373 shares fell. A total of 173 shares were unchanged.

Results Today :

Tata Motors (up 0.62%), Eicher Motors (up 0.70%), Cipla (up 0.54%), Union Bank of India (down 0.91%), Bank of Baroda (down 0.48%), Bank of India (up 0.11%), ABB India (up 1.37%), Finolex Industries (up 2.46%), Kalyan Jewellers (up 0.73%), Dr Lal PathLabs (up 1.12%) and Thermax (up 0.69%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty FMCG index gained 1.31% to 55,338.25. The index fell 2.46% in the past trading session.

ITC (up 2.26%), United Breweries (up 1.84%), Colgate-Palmolive (India) (up 1.49%), United Spirits (up 1.4%), Varun Beverages (up 1.11%), Hindustan Unilever (up 1.09%), Nestle India (up 1%), Marico (up 0.74%), Balrampur Chini Mills (up 0.52%) and Britannia Industries (up 0.39%) advanced.

On the other hand, Dabur India (down 0.58%), Radico Khaitan (down 0.54%) and Godrej Consumer Products (down 0.33%) edged lower.

Stocks in Spotlight:

Brigade Enterprises rose 0.57%. The company said that it has signed definitive agreement for prime land parcel spread across 4.6 acres, located on Old Madras Road, Bengaluru.

Bharat Petroleum Corporation advanced 3.17%. The company�s Net profit declined 30.29% to Rs 4,789.57 crore in the quarter ended March 2024 as against Rs 6,870.47 crore during the previous quarter ended March 2023. Sales declined 1.32% to Rs 1,16,554.73 crore in the quarter ended March 2024 as against Rs 1,18,115.39 crore during the previous quarter ended March 2023.

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