Sensex spurts 336 pts, consumer durables stocks advance

13 Sep 2022 , 10:33 AM

The domestic equity benchmarks continued to trade with modest gains in the morning trade. The Nifty traded above the 18,000 level. Barring the Nifty Media index, all the sectoral indices on the NSE were in the green. Investors kept a close eye on the U.S. inflation data due on Tuesday which will offer a crucial guide to the interest rate outlook. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 336.29 points or 0.56% to 60,451.42. The Nifty 50 index gained 95.90 points or 0.53% to 18,032.25. In the broader market, the S&P BSE Mid-Cap index rose 0.48% while the S&P BSE Small-Cap index gained 0.46%. The market breadth was strong. On the BSE, 1,997 shares rose and 1,203 shares fell. A total of 133 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 2,049.65 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 890.51 crore in the Indian equity market on 12 September, provisional data showed. Economy: Indias consumer price inflation rose to 7.00 percent in August from 6.71 percent in July, figures from the National Statistical Office revealed Monday. In the same period last year, inflation was 5.30 percent. Food price inflation advanced to 7.62 percent in August from 6.69 percent in the previous month. Month-on-month, consumer prices gained 0.52 percent and food prices moved up 0.75 percent in August. Buzzing Index: The Nifty Consumer Durables index gained 1.43% to 28,247. The index rose 1.35% in the past trading session. Whirlpool of India (up 3.56%), Relaxo Footwears (up 3.42%), Bata India (up 3.15%), Dixon Technologies (India) (up 2.61%), Kajaria Ceramics (up 1.86%) , Titan Company (up 1.86%), Amber Enterprises India (up 1.73%), Orient Electric (up 1.1%), Voltas (up 0.89%) and V-Guard Industries (up 0.65%) edged higher. On the other hand, Havells India (down 0.36%), Crompton Greaves Consumer Electricals (down 0.33%) and Blue Star (down 0.28%) declined. Stocks in Spotlight: Tata Consumer Products gained 1.02% after the company said that it entered into a health supplements segment and launched Tata GoFit. Tata GoFit, a health supplement range for women, is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics. Pidilite Industries rose 0.31%. The company said that 100X.VC, a leading seed stage CAT 1 VC Fund, has partnered with the company for its venture arm called Pidilite Ventures. As a part of the partnership, 100X.VC will collaborate with Pidilite Ventures to identify strategic investment opportunities for them. Pidilite Ventures will aim to mentor and guide innovative businesses that have synergies with Pidilites core and adjacent businesses. Paisalo Digital shed 0.48%. The board of directors allotted 13,45,000 equity shares of face value of Re 1/- each at premium of Rs 69.50/- on conversion of 1,34,500 warrants. Powered by Capital Market – Live News