Market Commentary - Mid-Session
Indices trade with small gains; FMCG shares slide As on : 27-Aug-24  14:36

The headline equity indices traded with minor gains in mid-afternoon trade. The Nifty traded above the 25,000 level after hitting the day's low of 24,973.65 in morning trade. FMCG shares declined after advancing in the past trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex added 115.27 points or 0.14% to 81,813.38. The Nifty 50 index gained 33.15 points or 0.13% to 25,043.75.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.58% and the S&P BSE Small-Cap index gained 0.48%.

The market breadth was positive. On the BSE, 2,178 shares rose and 1,729 shares fell. A total of 109 shares were unchanged.

Buzzing Index:

The Nifty FMCG index fell 0.84% to 63,121.85. The index rose 0.39% in the past trading session.

United Spirits (down 1.89%), Dabur India (down 1.63%), Marico (down 1.37%), Hindustan Unilever (down 1.28%), Radico Khaitan (down 1.22%), Varun Beverages (down 0.79%), Britannia Industries (down 0.76%), ITC (down 0.74%), Tata Consumer Products (down 0.69%) and Colgate-Palmolive (India) (down 0.65%) declined.

On the other hand, United Breweries (up 1.13%), Balrampur Chini Mills (up 0.83%) and Procter & Gamble Hygiene and Health Care (up 0.68%) edged higher.

Numbers to track:

The yield on India's 10-year benchmark federal paper jumped 1.80% to 6.974 as compared with previous close 6.851.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9425, compared with its close of 83.8750 during the previous trading session.

MCX Gold futures for 5 September 2024 settlement fell 0.16% to Rs 71,388.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 100.83.

The United States 10-year bond yield grew 0.31% to 3.829.

In the commodities market, Brent crude for October 2024 settlement shed 33 cents or 0.41% to $81.10 a barrel.

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