Key indices were trading near the flat line in mid-afternoon trade. Stocks erased steep intraday gains as profit booking emerged at higher level. Intraday volatility was high. FMCG shares rose.
At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 30.45 points or 0.08% at 36,624.78. The Nifty 50 index added 9.05 points or 0.08% at 10,777.10.
The broader market traded with minor losses. The S&P BSE Mid-Cap index shed 0.04% while the S&P BSE Small-Cap index lost 0.28%.
The market breadth was weak. On the BSE, 1030 shares rose and 1580 shares fell. A total of 174 shares were unchanged. In the Nifty 50 index, 35 stocks advanced while 15 stocks declined.
Buzzing Index:
The Nifty FMCG index rose 1.19% to 31,188.95. The index has added 1.68 % in two sessions.
Among the index constituents, Emami (up 3.10%), Hindustan Unilever (up 2.10%), Britannia Industries (up 1.70%), ITC (up 1.57%), Colgate-Palmolive India (up 1.50%), Dabur India (up 1.23%), Nestle India (up 1.02%), Marico (up 0.51%) and Jubilant Foodworks (up 0.39%) advanced.
United Breweries (down 2.37%), Tata Consumer Products (down 1.6%), United Spirits (down 1.51%), Procter & Gamble Hygiene (down 0.74%), Godrej Consumer (down 0.81%) and Varun Beverages (down 0.07%) declined.
Stocks in Spotlight:
National Aluminium Company (down 2.61%), The Federal Bank (down 2.58%), Voltas (down 2.44%), Oil India (down 2.10%) and Vodafone Idea (down 2.05%) were the top mid-cap losers.
IDBI Bank (down 4.92%), CreditAccess Grameen (down 4.52%), Aditya Birla Capital (down 3.69%), PI Industries (down 3.90%) and Godrej Industries (down 3.26%) were the top-small cap losers.
Clariant Chemicals (India) soared 16.89% to Rs 568.45 after the company declared a special interim dividend of Rs 140 per equity share for the financial year FY 2020-21. The company has fixed 18 July 2020 as the record date for the purpose of payment of special interim dividend.
Ircon International advanced 1.74% to Rs 96.60 after the company's consolidated net profit rose 15.74% to Rs 115.40 crore on 4.24% rise in net sales to Rs 1873.35 crore in Q4 March 2020 over Q4 March 2019. The government-owned entity's order book stood at Rs 30,713 crore as on 31 March 2020.
Numbers to Track:
The yield on 10-year benchmark federal paper rose to 5.787% compared with previous closing of 5.760% in the previous trading session.
In the foreign exchange market, the partially convertible rupee edged lower to 75.19 compared with its previous closing 74.205.
In the commodities market, Brent crude for September 2020 settlement fell 52 cents to $42.72 a barrel. The contract rose 2.10% or 89 cents to end at $43.24 in the previous trading session .
MCX Gold futures for 5 August 2020 settlement rose 0.52% to Rs 49,115.
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