Markets trade flat; Nifty below 18,100; FMCG index top performer

5 Jan 2023 , 09:40 AM

Indian markets traded nervously on Thursday with benchmark Sensex and Nifty 50 with marginal ups and downs. FMCG stocks outperformed the broader markets indices, while banking, auto, IT and metal stocks further added substantial gains. Financial Services and Media stocks were top laggards in the early deals. Also, December 2021 (Q3FY22) quarter has further influenced domestic equities.

At around 9:42, Sensex was trading at 60,753.75 up by 96.3 points or 0.16%. The index has touched an intraday high and low of 60,866.84 and 60,595.33.

Nifty 50 performed at 18,081.30 higher by 38.35 points or 0.21%. The index has clocked an intraday high and low of 18,101.95 and 18,031.15 respectively.

In terms of sectoral indices, on NSE, the FMCG index skyrocketed over 560 points. While the Financial Services and Media index dipped marginally.

Gainers on Nifty were – Britannia, Sun Pharma, HUL, Tata Consumers and Bajaj Auto surging between 1.1-1.7%.

Losers on Nifty were – Bajaj Finance, Bajaj Finserv, Power Grid, Apollo Hospitals and Infosys tumbling between 0.4-5.7%.

On the global front, Asian markets opened in the green with the Japanese ‘Nikkei’ trading higher by over 200 points. The Taiwan & South Korean indices were also trading higher by 1% as markets look forward to New Year optimism on lower inflation & weaker US$. Chinese stocks staged a sharp rally led by the Hang Seng which seems to be an outperformer this year.

Overnight, on Wall Street, US markets close in the green even as Federal Reserve minutes indicates no rate cut in 2023.

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