The domestic equity barometers continued to trade near the day's low in mid-afternoon trade. The Nifty was trading a tad above 15,750 level. The Nifty FMCG index outperformed the other sectoral indices on the NSE.
At 14:23 IST, the barometer index, the S&P BSE Sensex, was down 131.92 points or 0.25% to 52,603.67. The Nifty 50 index lost 57.80 points or 0.37% to 15,756.90.
The broader market traded sideways. The S&P BSE Mid-Cap index skid 0.24%. The S&P BSE Small-Cap index gained 0.13%.
Buyers outpaced sellers. On the BSE, 1697 shares rose and 1479 shares fell. A total of 128 shares were unchanged.
Numbers to Watch:
In the foreign exchange market, the partially convertible rupee fell to 74.2625 compared with its previous closing of 74.19.
MCX Gold futures for 5 August 2021 settlement shed 0.47% to Rs 46,785.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 92.04.
The yield on 10-year benchmark federal paper fell to 6.052% from its previous close of 6.056%.
In the commodities market, Brent crude for August 2021 settlement fell 11 cents to $74.57 a barrel. The contract lost 1.97% or $1.50 in the previous trading session to settle at $74.68.
Stocks in Spotlight:
Bajaj Healthcare jumped 13.23% to Rs 815.50 after the company said that it has moved the Indian Patent Office requesting to grant a compulsory license for manufacturing & supply of COVID-19 drug Baricitinib (API and formulation).
Bharat Forge advanced 1.14% to Rs 746.95. The company, through its wholly owned subsidiary BF Industrial Solutions (BFISL), acquired 100% control of Sanghvi Forging & Engineering (SFEL). The company's resolution plan for Sanghvi Forging was approved by the National Company Law Tribunal Ahmedabad Bench on 26 April 2021 and by the Committee of Creditors (CoC) of SFEL on 17 February 2021.
Sanghvi Forging & Engineering is engaged in the manufacture of open and closed die forging products for the oil & gas, defence, ship building, power & other sectors and is an exporter of products to various foreign countries over the last two decades.
Buzzing Index:
The Nifty FMCG index rose 0.49% to 36,232.80. The index has added 0.63% in two sessions.
Marico (up 5.15%), United Breweries (up 1.47%), Godrej Consumer (up 1.27%), Hindustan Unilever (up 0.89%), Nestle India (up 0.83%) and Emami (up 0.72%) advanced.
United Spirits (down 0.74%), Tata Consumer Products (down 0.74%), Procter & Gamble Hygiene (down 0.68%), Varun Beverages (down 0.59%) and Britannia Industries (down 0.47%) declined.
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