Stocks in FMCG and IT gain as indices rise

Share Market
Share Market

The equity benchmark indices gained a fraction of a percent in the early hours of Monday, despite mixed global cues, with IT stocks seeing increased buying interest.

At 10:15 a.m., the BSE S&P Sensex was up 220 points, or 0.41 percent, to 54,498 points, while the Nifty 50 was up 73 points, or 0.45%, to 16,311.

Except for Nifty pharma and metal, which fell by 0.4% each, all sectoral indices rose, with Nifty FMCG, auto, and financial services all up 0.7%, IT up 0.6%, and PSU banks up 0.2%.

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Mahindra & Mahindra increased by 2% to Rs 773.80 per share, while Bajaj Auto increased by 1.2 percent and Hero MotoCorp increased by 0.7 percent.

Also in the black were Tech Mahindra, Titan, ITC, IndusInd Bank, ICICI Bank, Bajaj Finserv, Tata Motors, and Adani Ports.

However, metal stocks fell, with Hindalco down 1.2%, JSW Steel down 0.6%, and Tata Steel down 0.4%. Reliance Industries, the index’s benchmark, fell 0.3% to Rs 2,082.90 per share.

Meanwhile, Asian stocks trembled as gold and oil prices plummeted. Tokyo and Singapore were closed for holidays, resulting in a 0.1 percent decline in MSCI’s broadest index of Asia Pacific shares outside Japan.

Although the Nikkei in Japan was closed, futures were trading just below Friday’s close.

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