Equity benchmark indices were trading higher in the afternoon session, with the Sensex
up by over 304 points at 35,286. The Nifty50
index rose 76 points to 10,602 driven by FMCG and private banks.
The Nifty FMCG index was among the top sectoral gainers in today’s session followed by private banks, auto, financial services, and realty.
The Nifty FMCG index gained up to 2.3% at 29,901.5. From its recent low on October 10, the FMCG index has outperformed the market by gaining 9% vs. a 2.3% rise in the Nifty50.
From the personal care space, the top gainers included HUL
, Godrej Consumer Products
, and United Spirits
Shares of HUL snapped their three-day decline and jumped over 4% in today’s trade. Brokerage firm JP Morgan has an "overweight" rating on HUL with a target price of Rs1,569. The brokerage firm believes premium valuations will be sustained on expectations of better volume growth/margin delivery vs. peers, as per media reports.
Colgate-Palmolive (India) Ltd is currently trading at Rs1,193 up by Rs44.4 or 3.87% from its previous closing of Rs1,148.60 on the BSE.
is currently trading at Rs286.10 up by Rs5.65 or 2.01% from its previous closing of Rs280.45 on the BSE.
Dabur India Ltd is currently trading at Rs418.30 up by Rs18.45 or 4.61% from its previous closing of Rs399.85 on the BSE.
Godrej Consumer Products Ltd
is currently trading at Rs742 up by Rs26.1 or 3.65% from its previous closing of Rs715.90 on the BSE.
On the flip side, UBL, Godrej Industries, and Tata Global were trading in the negative zone.
The Nifty Private Bank index rose 1.2% at 26,317 led by IndusInd Bank, Axis Bank, IDFC Bank, and HDFC Bank.
IndusInd Bank Ltd
is currently trading at Rs1,563.35 up by Rs34.2 or 2.24% from its previous closing of Rs1,529.15 on the BSE.
Axis Bank Ltd
is currently trading at Rs625.80 up by Rs11.5 or 1.87% from its previous closing of Rs614.30 on the BSE.
IDFC Bank Ltd
is currently trading at Rs39.65 up by Rs0.55 or 1.41% from its previous closing of Rs39.10 on the BSE.