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Market fails to hold early gains; FMCG hits all-time high

At close, the Sensex was up 13.65 points or 0.02% at 81,711.76, while the Nifty was up 7.20 points or 0.03% at 25,017.80.

Market fails to hold early gains; FMCG hits all-time high

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Benchmark indices failed to hold on to early gains on Tuesday and ended the session on a flat note.

At close, the Sensex was up 13.65 points or 0.02% at 81,711.76, while the Nifty was up 7.20 points or 0.03% at 25,017.80.

Among the sectors, FMCG was the worst hit as it slipped over 1%. It was followed by energy, automobiles and metals, which were down 0.1-0.6%.

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However, the banks, pharma and realty indices rose 0.2-0.8%.

The Bank Nifty ended at 51,148.1, with an intraday high of 51,404.7 and a low of 50,938.1.

The midcap as well as smallcap indices outperformed the benchmarks and rose around 0.5% each.

Notably, the Nifty FMCG index hit a new all-time high crossing the 63,800 mark to reach a peak of 63,805 points, approaching the 64,000 level.

The index hits fourth consecutive day of setting new records. However, it ended the session with a decline of 1.06%.

On BSE, Aarti Drugs, Akzo Nobel, Alkem Labs, Ashok Leyland, Bajaj Auto, Cipla, eClerx Services, Emami, Eris Life, HCLTech, HDFC Life, ICICI Lombard, Quess Corp, Sun Pharma, and Suven Pharma among others touched their 52-week-high.

On Nifty, the biggest gainers were SBI Life Insurance, HDFC Life, Bajaj Finserv, Maruti Suzuki, and Shriram Finance. The losers included JSW Steel, Titan Co, HUL, Tata Motors and Coal India.

NBCC Ltd, a Navratna Central Public Sector Enterprise, is likely to distribute bonus shares to the shareholders after approval from the board at its upcoming board meet.

NBCC informed the shareholders, through an exchange filing, that a meeting of the board of directors of the company is scheduled to be held on Saturday, August 31.

The shareholders have witnessed mega rally in the counter in the year so far with the stock rising 117.20 per cent.

Further, the shares of Zee Entertainment jumped 11.6% after the media firm said it has entered into an agreement to settle all disputes with Sony regarding the termination of merger.

Tata Elxsi zoomed 16.5% in trade, riding on the back of heavy trading volumes in the counter.

Shares of Bharat Electronics fell 1.8% due to profit booking.

The rupee depreciated by 5 paise to close at 83.92 (provisional) against the US dollar on overnight jump in crude oil prices and a surge in commodity prices.

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