Upmove continues, FMCG stocks gain

The upmove continued in the noon deals on back of continued buying visible across the board. The Sensex has gained 216 points to 18,943 and the S&P CNX Nifty was near its crucial psychological level of 5,700, up 63 points at 5,688.

According to Ashish Chaturmohta, Vice President ( Derivatives & Technical Analyst), IIFL Wealth, "Today if we sustain above 5,690 levels with good volume support we may see Nifty heading towards 5,780-5,800 levels taking now positional support around 5,550 levels."

Meanwhile, Bharti Airtel was the top gainer among the Sensex stocks, the stock surged 3.3% to Rs 396. Hindalco added 2.6% to Rs 194. Hindustan Unilever zoomed, 2.5% to Rs 338. NTPC, Jindal Steel, Reliance Infrastructure, HDFC, ITC, Tata Steel and Larsen & Toubro also advanced 1.3-2.3% each in trades so far. On the other hand Sterlite Industries and Wipro were among the losers.

Buying was visible across the board and all the sectoral indices were trading on a positive note. The BSE FMCG index was the top gainer. The index surged 1.5% to 4,044 points. Realty index gained 1.4% to 2,165. Metal, Consumer Durables, Capital Goods, Power, Oil & Gas, Auto, Healthcare and PSU indices also gained 0.75-1.3% each.

Bankex which opened lower in today's session rebounded sharply. The Bankex was up 0.75% at 13,010 points. IDBI Bank,
Kotak Mahindra Bank, SBI, Bank of Baroda, Axis Bank, HDFC Bank and Federal Bank were among the top gainers.

Marico was the top gainer among the FMCG stocks. The stock advanced 5% to Rs 159. It was followed by United Spirits, Hindustan Unilever, Colgate Palmolive, Tata Global Beverages, ITC, Dabur and Nestle were also among the gainers, up 0.5-3%.

Birla Pacific Medspa and Rushil Decor which were listed earlier in the morning were also trading on a strong note. Birla Pacific Medspa jumped 66% and was trading at Rs 17 on the BSE. Rushil Decor advanced 11% to Rs 80.

The broader markets were also trading higher in today's session. The BSE mid and small-cap indices gained 1% each.

The overall breadth was extremely positive as 1710 stocks were advancing while 843 stocks were declining.

On the macro economic front the government announced the inflation for the week ended June 25. Primary Articles inflation came in at 11.56% versus 11.48% compared to the previous week. Food Article inflation was recorded 7.61% versus 7.78% and the fuel group inflation was at 12.67% versus 12.98%.