Indian Markets end higher on strong buying interest in FMCG stocks - LuvKush Finserve

Markets ended higher, amid a volatile trading session, on the back of strong buying interest in FMCG majors Hindustan Unilever and ITC. The Sensex ended up 98 points at 19,927 and the Nifty gained 18 points to end at 5,973.

BSE FMCG index was the top gainer among the sectoral indices on the BSE, up 3.4% followed by Consumer Durables, IT, Power, Oil and Gas indices. Most other indices were trading lower with Bankex, Metal, Auto, Realty and Capital Goods indices among the top losers.

Shares of software majors gained on the back of weakening rupee. TCS and Infosys ended up 0.7-1.5% each. Bank shares extended losses after Reserve Bank of India's measures to stem the fall in the rupee and increase in borrowing costs would hurt credit growth and also impact net interest margins.

ICICI Bank, HDFC Bank and SBI ended down 1-2.4% each. Auto majors Tata Motors and Maruti Suzuki ended down 1.9-2.2% each on concerns of sales growth slowdown amid sluggish demand and high cost of auto loans. The BSE Mid-cap and Small-cap indices ended down 0.2-0.5% each.

Source : Equity Bulls

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