FMCG shares push key indices to lifetime highs
Metal stocks also shine amid firm global trends and foreign fund inflows
image for illustrative purpose
Facilitating Gains
- BSE Sensex advances 33.40 pts to settle at 74,119.39
- Intraday, it jumped 159.18 pts to hit record 74,245.17.
- The broader Nifty rises by 19.50 pts to close at 22,493.55
- Tata Steel rises the most by 3.9 per cent
- M&M, RIL, Axis Bank among laggards
Mumbai: Benchmark Sensex and Nifty edged higher to close at fresh record highs on Thursday driven by gains in metal and FMCG shares amid firm global trends and foreign fund inflows. In a highly volatile trade, the 30-share BSE Sensex advanced 33.40 points or 0.05 per cent to settle at a new peak of 74,119.39. During the day, it jumped 159.18 points or 0.21 per cent to hit an all-time high of 74,245.17. The broader Nifty rose by 19.50 points or 0.09 per cent to close at a record 22,493.55. During the day, it climbed 51.6 points or 0.22 per cent to an all-time high of 22,525.65.
“Equity benchmark indices edged higher after hitting a record high amid a firm trend in the US market and FII inflows,” Vinod Nair, Head of Research at Geojit Financial Services, said. Faster-than-expected economic growth for the current fiscal year boosted sentiments for metal and capital goods stocks, Nair said.
Among Sensex firms, Tata Steel rose the most by 3.9 per cent. JSW Steel gained 2.09 per cent, Tata Motors by 2.14 per cent, Bajaj Finserv by 2 per cent, and Bajaj Finance by 1.71 per cent. Asian Paints, ITC and Nestle were also among the major gainers. Mahindra & Mahindra, Reliance Industries, Axis Bank, ICICI Bank and Power Grid were among the laggards.
In the broader market, the BSE smallcap gauge climbed 0.70 per cent and midcap index spurted by 0.39 per cent. Among the indices, metal jumped 1.36 per cent, capital goods climbed 1.05 per cent. Commodities (1 per cent), FMCG (0.98 per cent), telecommunication (0.98 per cent) and industrials (0.93 per cent) also advanced. Auto, bankex, oil & gas and realty were the laggards.
In Asian markets, Seoul settled in the green while Tokyo, Shanghai and Hong Kong ended lower. European markets were trading on a mixed note.
