FMCG helps Indian Markets to end higher - LuvKush Finserve

Markets ended higher, helped by FMCG shares after HUL came out with its annual results. The Nifty crossed 5,900 levels in late trades, ending finally at 5,904 - up 33 points. Sensex ended up 101 points at 19,388. BSE FMCG index surged 2.5% at 7,252 after Hindustan Unilever reported the annual results earlier in the day.

BSE consumer durables, realty, power and IT indices added 1-2.3% each. BSE auto index added 0.5% at 10,905. On the other hand, BSE metal index shed 0.8% at 8,569. Capital goods and healthcare indices also traded on a subdued note. Jindal Steel shed 4.2% at Rs 301. Coal India showed weakness and ended down 1.7% at Rs 314. Sun Pharma, HDFC, Larsen & Toubro and Tata Steel also ended in red.

Hindustan Unilever (HUL) moved higher by 7% to Rs 498, bouncing back 7.4% from its intra-day low, after reporting a better-than-expected 18% year-on-year (yoy) jump in standalone net profit at Rs 787 crore for the quarter ended March (Q4), on back of strong volume growth. Income from operations grew 12% at Rs 6,466 crore on y-o-y basis.

Broader markets were also in the green. The BSE mid-cap index added 0.6% at 6,318. Small-cap index added 0.2% at 6,040.

Source : Equity Bulls

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