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EQUITY - MARKET SCREENER

Indices turn range bound; FMCG shares slide
09-Jun-23   12:35 Hrs IST
The domestic equity barometers traded near the flat line with some negative bias losses in early afternoon trade. The Nifty hovered below the 18,650 mark after hitting the day's high of 18,676.65 in early trade. FMCG shares declined for the two consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 12.49 points or 0.02% to 62,836.15. The Nifty 50 index shed 3.50 points or 0.02% to 18,631.05.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index gained 0.30% while the S&P BSE Small-Cap index rose 0.28%.

The market breadth was positive. On the BSE, 1,842 shares rose and 1,545 shares fell. A total of 145 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.64% to 11.07. The Nifty 29 June 2023 futures were trading at 18,686.15, at a premium of 55.1 points as compared with the spot at 18,631.05.

The Nifty option chain for the 29 June 2023 expiry showed maximum Call OI of 42.2 lakh contracts at the 19,000 strike price. Maximum Put OI of 54.9 lakh contracts were seen at 18,000 strike price.

Buzzing Index:

The Nifty FMCG index declined 0.59% to 50,839.65. The index slipped 1.49% in two trading sessions.

Among the components of the Nifty FMCG index, Hindustan Unilever (down 1.71%), Godrej Consumer Products (down 1.7%), Emami (down 1.23%), Colgate-Palmolive (India) (down 0.98%), Radico Khaitan (down 0.77%), Marico (down 0.72%), Tata Consumer Products (down 0.19%), ITC (down 0.14%), Nestle India (down 0.03%) and Dabur India (down 0.02%) edged lower.

On the other hand, Varun Beverages (up 1.06%) ,United Spirits (up 0.51%) and Procter & Gamble Hygiene and Health Care (up 0.41%) advanced.

Stocks in Spotlight:

Sarda Energy & Minerals rose 3.20% after the company announced that the resolution professional of SKS Power Generation (Chhattisgarh) (SKS) has declared the company as the successful resolution applicant for SKS.

KPI Green Energy jumped 5.08% after the company obtained the commissioning certificate from Gujarat Energy Development Agency (GEDA) for capacity 7.20 MW wind-solar hybrid power project under its Captive Power Producer (CPP) segment.

Hindustan Zinc declined 0.59%. The company said that CRISIL Ratings has reaffirmed its 'CRISIL AAA/Stable/CRISIL A1+' ratings on the bank facilities and debt programmes of the company.

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