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Positive Global Cues Lift Indian Equities, FMCG Stocks Gain

Monday, May 22, 2017
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MUMBAI: Positive global cues and healthy buying in FMCG, consumer durables and capital goods stocks lifted the Indian equity markets during the mid-afternoon trade session on Monday.

Around 12.50 p.m., the wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 19 points or 0.20 per cent to 9,446.90 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,638.88 points, traded at 30,574.27 points (at 12.45 p.m.) -- up 109.35 points or 0.36 per cent from its previous close at 30,464.92 points.

The Sensex has so far touched a high of 30,712.15 points and a low of 30,569.62 points.

However, the BSE market breadth was bearish -- with 1,462 declines and 1,042 advances. 

"The equity benchmark indices started off the first day of the week on a positive note and witnessed gap-up opening, tracking firm global cues. Appreciation of the rupee against the US dollar in initial trades also supported the firm opening," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"FMCG sector stocks witnessed strong buying support, led by ITC and Marico. Aviation sector stocks traded with bearish sentiments tracking higher crude oil prices."

On Friday, the benchmark indices closed on a flat note after a volatile trade session, as investors booked profits. The NSE Nifty closed at 9,427.90 points, while the BSE Sensex closed at 30,464.92 points.

Read Also:
GST To Help Improve India's Exports: Sitharaman
India's GDP Growth To Be Around 7.4 Pct In 2017-18: FICCI Survey


Source: IANS
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