The domestic equity benchmarks were trading with small losses in morning trade. FMCG shares advanced for second day in a row. At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 147.61 points or 0.30% at 49,344.71. The Nifty 50 index lost 50.95 points or 0.35% to 14,513.90.
US President-elect Joe Biden is expected to unveil a major Covid-19 relief package on Thursday.
In the broader market, the S&P BSE Mid-Cap index gained 0.18% while the S&P BSE Small-Cap index shed 0.16%.
The market breadth was negative. On the BSE, 1169 shares rose and 1333 shares fell. A total of 147 shares were unchanged.
COVID-19 update:
Total COVID-19 confirmed cases worldwide stood at 92,317,137 with 1,977,912 deaths. India reported 213,603 active cases of COVID-19 infection and 151,727 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
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Earnings Today:
Den Networks (up 0.52%), HFCL (up 0.47%), Reliance Industrial Infrastructure (down 0.32%) and Tata Steel Long Products (up 1.41%) will announce Q3 earnings today.
Buzzing Index:
The Nifty FMCG index rose 0.68% to 34,854.35, extending gains for second day. The index has added 1.06% in two sessions.
Varun Beverages (down 2.43%), Jubilant Foodworks (down 2.14%), Colgate-Palmolive India (down 0.65%) and Tata Consumer Products (down 0.61%) declined.
Dabur India (up 1.87%), Britannia Industries (up 1.75%), ITC (up 1.37%), Emami (up 1.13%), Godrej Consumer (up 1.03%), United Spirits (up 0.88%) and Nestle India (up 0.64%) advanced.
Stocks in news:
Hindustan Aeronautics (HAL) jumped 9.68% to Rs 1010. The Union Cabinet on January 13 has approved procurement of 83 Light Combat Aircrafts (LCA) 'Tejas' from the company for the Indian Air Force (IAF).
Indian Hume Pipe Company rose 1.15% to Rs 210.25 The steel pipes maker has received a letter of acceptance (LoA) for the work of Rs 198.80 crore from the Karnataka Government. The scope of the work is lifting water from Bennethora Reservoir for ground water development & drinking water purpose on turnkey basis including operation and maintenance for five years. The project is to be completed within 24 months.
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