Nifty hovers at 15,650; Sensex drops 454 pts

1 Jul 2022 , 02:31 PM

The barometers traded in a narrow range with moderate cuts in the mid-afternoon trade. The Nifty hovered above the 15,650 mark. FMCG, realty and healthcare stocks advanced while oil & gas, auto and metal stocks corrected. Weak global cues stocks dented sentiment. At 13:23 IST, the barometer index, the S&P BSE Sensex, was down 454.3 points or 0.86% to 52,564.64. The Nifty 50 index fell 128.95 points or 0.82% to 15,651.30. The broader market outperformed the key equity indices. The S&P BSE Mid-Cap index rose 0.07% while the S&P BSE Small-Cap index lost 0.34%. The market breadth was negative. On the BSE, 1,459 shares rose and 1,744 shares fell. A total of 237 shares were unchanged. Numbers to Track: The yield on Indias 10-year benchmark federal paper fell to 7.410 as compared with 7.450 at close in the previous trading session. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 79.07, compared with its close of 79.06 during the previous trading session. MCX Gold futures for 5 August 2022 settlement fell 0.09% to Rs 50,681. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, rose 0.28% to 104.98. In the commodities market, Brent crude for September 2022 settlement rose $ 1 or 0.92% at $110.03 a barrel. Buzzing Index: The Nifty FMCG index rose 2.08% to 38,449.80, snapping its two days losing streak. The index has lost 1.3% in two trading sessions. Among the components of the Nifty FMCG index, United Spirits (up 3.07%), ITC (up 2.91%), Godrej Consumer Products (up 2.44%), Britannia Industries (up 2.44%) and Dabur India (up 2.2%) were the top gainers. Among the other gainers were Marico (up 2.14%), United Breweries (up 1.99%), Hindustan Unilever (up 1.88%), Colgate-Palmolive (India) (up 1.86%) and Emami (up 1.73%). On the other hand, Procter & Gamble Hygiene and Health Care (down 0.2%), turned lower. Stocks in Spotlight: Tilaknagar Industries was locked in an upper circuit of 5% to Rs 72.60 after the company said that it had entered in an operations and maintenance services agreement with Globus Spirits (GSL). The agreement is for engaging GSLs services to upgrade and operate (for a service fee) the companys grain-based ENA Plant in Shrirampur, Maharashtra. REC rose 0.77% to Rs 124.70 after the company announced that its board has recommended 1:3 bonus issue of shares. As per the regulatory filing, the companys board recommended issuing one bonus equity share of Rs 10 each fully paid-up for every three existing equity shares of Rs 10 each fully paid up, to the eligible shareholders. The board has fixed 18 August 2022 as a record date for ascertaining entitlement of eligibility of shareholders for bonus shares. Powered by Capital Market – Live News