Sensex gains; consumer goods stocks at record highs

Reuters Market Eye - The BSE Sensex is up 0.76 percent after hitting its highest intraday level in two months, while the Nifty gains 0.8 percent.

The Reserve Bank of India's move to tighten gold imports again on Monday with an eye to cut a record current-account deficit is seen as a broader positive for equities, dealers say.

Consumer goods companies continue to make record highs as funds opt for traditionally defensive stocks in an uncertain environment underscored by the rupee's volatility.

ITC Ltd is up 1.5 percent after touching an all-time high of 375.25 rupees while Hindustan Unilever Ltd rose 2.4 percent after touching a record high of 720 rupees.

 

Blue chip bank stocks gain on value buying after recent sharp falls, with a 6.4 percent fall in NSE's banking sub-index last week.

ICICI Bank Ltd gains 1.7 percent, while HDFC Bank Ltd edges up 0.7 percent.

Yes Bank Ltd gains 4.25 percent a day ahead of its quarterly results.

(Reporting by Abhishek Vishnoi)