Shares pare some losses; FMCG stocks rise for 3rd day

The key equity indices pared some losses in morning trade. The Nifty traded tad above the 17,900 mark. FMCG shares advanced for third day in a row.

At 10:29 IST, the barometer index, the S&P BSE Sensex, was down 127.88 points or 0.21% to 60,132.25. The Nifty 50 index lost 39.80 points or 0.22% to 17,904.45.

In the broader market, the S&P BSE Mid-Cap index rose 0.50% while the S&P BSE Small-Cap index gained 0.49%.

The market breadth was positive. On the BSE, 1923 shares rose and 1157 shares fell. A total of 157 shares were unchanged.

Buzzing Index:

The Nifty FMCG index rose 0.83% to 43,635.90. The index has added 2.78% in three sessions.

Godrej Consumer Products (up 2.57%), Radico Khaitan (up 2.18%), United Breweries (up 1.5%), Dabur India (up 1.5%) and Procter & Gamble Hygiene and Health Care (up 1.39%) were the top gainers.

Among the other gainers were Hindustan Unilever (up 0.89%), ITC (up 0.82%), Varun Beverages (up 0.77%), United Spirits (up 0.59%) and Tata Consumer Products (up 0.5%).

Meanwhile, Nestle India (down 0.64%) and Britannia Industries (down 0.11%) edged lower.

Stocks in Spotlight:

Shares of Dynacons Systems & Solutions were locked in an upper circuit of 5%. The company said that it has bagged an order from Life Insurance Corporation of India for workplace solutions. The overall value of the order for all the zones to Dynacons stood at Rs 105 crore.

Indo Amines surged 18.84%. The company has received an Environment Clearance for Expansion of `Synthetic Organic Chemical` for its Manufacturing Plants situated at MIDC, Badlapur, Tal. Ambernath, Dist. Thane and MIDC Avdhan Taluka, Dist. Dhule, Maharashtra.

Infibeam Avenues jumped 6.31%. The meeting of the board of directors of the company is scheduled on 25 August 2022 to consider and approve the proposal for raising of funds through any permissible mode and/or combination thereof and other business items, if any.

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