The Indian benchmark was trading in green in the morning session of day’s trade as a result of rise in FMCG stocks led by ITC followed by Globus Spirits, Ess Dee Aluminium, Usher Agro and Advanta. Shares of ITC were trading nearly 8 per cent higher on the National Stock Exchange (NSE). The stock of cigarettes makers touched a 52-week low on Monday in intra-day trade, following the increase in excise duty on cigarettes in the Union Budget. The Union Budget announced an increase in additional excise duty (AED), which forms a very small portion of the overall excise duty on filter cigarettes while kept the Basic Excise Duty (BED) unchanged for FY17.
At 10:23AM BSE SENSEX was at 23502.86, up by 500.86 points or by 2.18 per cent while the NSE Nifty was at 7137.55, up by 150.5 points or by 2.15 per cent.
The BSE MIDCAP was at 9704.77, up by 129.67 points or by 1.35 per cent while the BSE SMLCAP was at 9709.1, up by 160.77 points or by 1.68 per cent.
Shares of BEML were trading higher after the company announced that it has bagged order valued at Rs 900 crore for the supply of metro coaches to Kolkata East-West Metro Line.
The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 318.80,+7.78 per cent), ICICI Bank Ltd. (Rs. 200.00,+5.26 per cent), GAIL (India) Ltd. (Rs. 316.80,+4.02 per cent), Hero MotoCorp Ltd. (Rs. 2586.50,+3.47 per cent), Maruti Suzuki India Ltd. (Rs. 3350.50,+3.33 per cent), among others.
The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 192.00,-1.08 per cent), Hindustan Unilever Ltd. (Rs. 826.00,-0.46 per cent), Mahindra & Mahindra Ltd. (Rs. 1224.00,-0.23 per cent), Housing Development Finance Corporation Ltd. (Rs. 1059.50,-0.19 per cent), Coal India Ltd. (Rs. 311.00,-0.06 per cent), among others.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of total 1940 shares traded, 1506 shares advanced, 372 shares declined while 62 were unchanged.
Among the sectoral indices on BSE, BSE_FMCG index was at 7372.92, up by 258.47 points or by 3.63 per cent led by ITC Ltd. (Rs. 318.80,+7.78 per cent), Globus Spirits Ltd. (Rs. 54.00,+6.30 per cent), Ess Dee Aluminium Ltd. (Rs. 134.90,+4.98 per cent), Usher Agro Ltd. (Rs. 28.50,+4.59 per cent), Advanta Ltd. (Rs. 403.00,+4.28 per cent).