Sensex, Nifty Pare Gains; FMCGs Slip, Metals Shine

After starting on a firm note, Indian equity markets came off highs amid profit booking in financial and FMCG stocks.

The benchmark S&P BSE Sensex, which rose over 200 points in early deals, was quoting at 65,482 levels, up 95 points or 0.15 per cent.

The Nifty50, on the other hand, was quoting at 19,475. It topped the 19,500-mark in early deals.

Tata Steel, Hindalco, Coal India, JSW Steel, Jio Financial Services, Ultratech Cement, Divis Labs, Maruti Suzuki, ONGC, L&T, Eicher Motors, and Kotak Mahindra Bank were the top large-cap winners on the benchmark indices as they advanced up to 4 per cent.

On the downside, Asian Paints, ICICI Bank, Power Grid, Axis Bank, Sun Pharma, Nestle India, Tata Motors, Infosys, Titan Company, M&M, Bharti Airtel, and ITC were the top laggards.

In the broader markets, the bulls maintained their grip with the BSE MidCap and Smallcap indices adding 0.48 per cent and 0.69 per cent, respectively.

Among sectors, the Nifty Metal Index hit record high of 7,033.70 , rising over 2.5 per cent in early trades. All other indices were swimming in a sea of greeen as well with the Nifty PSU Bank and Realty indices up 0.7 per cent each, followed by the Nifty Auto index (up 0.3 per cent).

Buzzing stocks

Shares of Nazara Technologies soared 5 per cent on the BSE after its Board approved to issue 1.4 million equity shares to Kamath Associates and NKSquared for Rs 100 crore

Those of IDBI Bank surged nearly 6 per cent after the Department of Investment and Public Asset Management said it has invited bids to appoint an asset valuer for the bank’s stake sale.

Shares of RVNL, too, jumped close to 7 per cent after the company won a Rs 282 crore order from Madhya Gujarat Vij (MGVCL) for full Turnkey contract for development of distribution infrastructure work for loss reduction at Dahod.