Equity indices trade higher, FMCG and IT stocks gain
Equity benchmark indices gained marginally during early hours on Monday amid mixed global cues with IT stocks witnessing buying interest.
Mumbai (Maharashtra): Equity benchmark indices gained marginally during early hours on Monday amid mixed global cues with IT stocks witnessing buying interest. At 10:15 am, the BSE S&P Sensex was up by 220 points or 0.41 per cent at 54,498 while the Nifty 50 ticked higher by 73 points or 0.45 per cent to 16,311.
Except for Nifty pharma and metal which dipped by 0.4 per cent each, all sectoral indices were in the positive zone with Nifty FMCG, auto and financial service up by 0.7 per cent, IT by 0.6 per cent and PSU bank by 0.2 per cent.
Among stocks, Mahindra & Mahindra rose by 2 per cent to Rs 773.80 per share while Bajaj Auto gained by 1.2 per cent and Hero MotoCorp by 0.7 per cent.
Tech Mahindra, Titan, ITC, IndusInd Bank, ICICI Bank, Bajaj Finserv, Tata Motors and Adani Ports too were in the green. However, metal stocks fell with Hindalco losing by 1.2 per cent, JSW Steel by 0.6 per cent and Tata Steel by 0.4 per cent. Index heavyweight Reliance Industries slipped by 0.3 per cent to Rs 2,082.90 per share.
Meanwhile, Asian shares wobbled amid sharp losses in gold and oil prices. Holidays in Tokyo and Singapore made for thin trading conditions, leaving MSCI's broadest index of Asia Pacific shares outside Japan down 0.1 per cent. Japan's Nikkei was shut but futures were trading just below Friday's close. (ANI)