Sensex Choppy; FMCG, Capital Goods Stocks Gain

The Sensex turned volatile in the late noon trades after remaining flat for most part of the day on Tuesday.

 

The 50-share Nifty was trading above 8,850 levels led by buying in HUL, Larsen & Toubro and ITC.

 

After initial selling in banking stocks after yesterday's wage revision move, traders purchased the shares in this space at lower levels, analysts said.

 

FMCG, capital goods and real estate stocks came in demand in trades today and were among the gainers on the BSE. The BSE FMCG and capital goods indices were up over 1 per cent each. At the same time oil & gas stocks were facing the selling pressure as the crude oil future prices rose 2 per cent in international markets.

 

From the Nifty basket, Kotak Mahindra Bank was the top gainer. The stock advanced 2.5 per cent to Rs 1,350. BHEL, Hindustan Unilever, Zee Entertainment, HUL, Larsen & Toubro and BPCL were also trading higher by over 1 per cent each. On the other hand, ONGC was the top Nifty loser, down 3 per cent to Rs 315. Sesa Sterlite, Cairn India, Jindal Steel, Bank of Baroda and Ambuja Cements were also trading weaker by 1-2 per cent each.

 

The BSE mid-cap and small-cap indices were trading with a negative bias.

 

At 2:25 PM, the Sensex was up 46 points at 29,021 and Nifty was up 12 points at 8,767.