Volatility continued on the bourses in early afternoon trade as key benchmark indices trimmed gains. At 12:20 IST, the barometer index, the S&P BSE Sensex was up 133.12 points or 0.5% at 26,896.58. The Nifty 50 index was currently up 43 points or 0.52% at 8,246.60. Earlier, key indices had witnessed a sudden spurt after hitting more than one-week low in early trade.
The Sensex rose 208.60 points or 0.77% at the day's high of 26,972.06 in mid-morning trade. The index dropped 80.38 points or 0.3% at the day's low of 26,683.08 in early trade, its lowest level since 2 June 2016. The Nifty rose 62 points or 0.75% at the day's high of 8,265.60 in mid-morning trade. The index fell 24.55 points or 0.29% at the day's low of 8,179.05 in early trade, its lowest level since 2 June 2016.
In overseas markets, Asian stocks edged lower as investors sought refuge in safe-haven assets amid festering concerns over the 23 June 2016 referendum that could see Britain exit the European Union. US stocks dropped yesterday, 9 June 2016 after three days of gains as crude oil futures pulled back from 10-month highs.
Closer home, the broad market depicted strength. There were almost two gainers against every loser on BSE. 1,509 shares rose and 774 shares fell. A total of 141 shares were unchanged The BSE Mid-Cap index was currently up 0.4%, underperforming the Sensex. The BSE Small-Cap index was currently up 0.67%, outperforming the Sensex.
Most FMCG stocks gained. Nestle India (up 0.52%), Marico (up 1.51%), Britannia Industries (up 0.21%), Jyothy Laboratories (up 0.1%), Procter & Gamble Hygiene and Health Care (up 1.81%), Dabur India (up 0.41%), Colgate Palmolive India (up 2.7%), and Godrej Consumer Products (up 0.2%) gained. Tata Global Beverages (down 0.28%), GlaxoSmithkline Consumer Healthcare (down 0.26%), and Bajaj Corp (down 0.23%) declined.
FMCG major, Hindustan Unilever (HUL) rose 0.56%. The company announced that considering the recent change in the organization structure of the company, it has decided to report its segmental information under the four segments, and a residual segment for 'others'. The new segments comprises viz; home care to include fabric wash, household care and water; personal care to include personal wash, skin care, hair care, oral care, deodorants and colors; foods to include packaged foods (excluding ice cream and frozen dessert) and popular foods and refreshments to include tea, coffee, ice cream and frozen dessert. This change complies with the IND AS segment reporting principles, and the reporting therefore will be made effective from 1 April 2016, which will be reflected in Q1 June 2016, HUL said. The announcement was made after market hours yesterday, 9 June 2016.
Shares of power generation and power distribution companies gained. Torrent Power (up 0.66%), NHPC (up 0.41%), NTPC (up 1.2%), Tata Power Company (up 0.66%), Adani Power (up 0.33%), Power Grid Corporation of India (up 0.92%), Reliance Infrastructure (up 2.23%) and Reliance Power (up 0.76%) gained.
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