Sensex closes flat; FMCG stocks rise | Current Affairs, Current Affairs 2017

Sensex closes flat; FMCG stocks rise

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SENSEXMumbai,  A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex) ended Monday’s trade flat, as investor sentiments were subdued due to weak global and domestic cues.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day’s trade flat. It was up 3.85 points or 0.04 percent at 8,809.35 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,170.77 points, closed the day’s trade at 29,135.88 points, up 40.95 points or 0.14 percent from the previous day’s close at 29,094.93 points.

The Sensex touched a high of 29,325.35 points and a low of 29,083.40 points in the intra-day trade.

“After a strong opening, the markets pared majority of its gains due to holiday and weak European markets,” said Alex Mathews, head research, Geojit BNP Paribas Financial Services.

According to Mathews, the wholesale inflation data which was released earlier in the day renewed hopes of further rate cutes by the central bank.

“The wholesale inflation data which came today fell second time in three month in January. The main reason for fall was the down trend in the oil prices,” Mathews added.

The WPI-based inflation decelerated by 0.39 percent in January from an increase of 5.11 percent in the corresponding period of last fiscal.

Data furnished by the commerce and industry ministry attributed the slowdown in WPI-based inflation to decline in fuel and power prices.

Fuel and power inflation declined by 10.69 percent in January as compared to an increase of 9.82 percent in the corresponding period of last year.

The prices of liquefied petroleum gas (LPG) fell by 7.65 percent, petrol became cheaper by 17.08 percent and diesel prices came down by 10.41 percent.

Food inflation in the month under review stood at eight percent from 8.85 percent recorded in the corresponding month of 2014.

On the BSE healthy buying was observed in fast moving consumer goods (FMCG), automobile and capital goods sectors, while banks, healthcare and consumer durables stocks came under selling pressure.

The S&P BSE FMCG index surged by 150.12 points, automobile index moved up by 87.28 points and capital goods index was higher by 30.52 points.

However, banks index was down 204.51 points, healthcare index dropped by 138.50 points and consumer durables lost 103.59 points.

The major Sensex gainers were: ITC, up 3.04 percent at Rs.389.55; Tata Consultancy Services (TCS), up 1.84 percent at Rs.2,585.25; Hindustan Unilever, up 1.62 percent at Rs.907.20; HDFC, up 1.55 percent at Rs.1,288.10; and Bharti Airtel, up 1.53 percent at Rs.360.55.

The losers were: Sun Pharma, down 2.65 percent at Rs.914.50; Hindalco, down 1.73 percent at Rs.150.85; Axis Bank, down 1.73 percent at Rs.571; ICICI Bank, down 1.66 percent at Rs.338.15; and Hero MotoCorp, down 1.62 percent at Rs.2,806.25.

The Indian markets will remain closed Tuesday on account of Mahashivaratri.

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