Sensex gains 261 pts, Nifty above 19,800,FMCG stocks shine

Sensex gains 261 pts, Nifty above 19,800, FMCG stocks shine

Ira Singh
17 Oct’23

The Indian equity market indices bounced back on Tuesday after three days of fall amid recovery in global markets and buying in HDFC Bank post its quarterly earnings.

At close,the Sensex was up 261.16 points or 0.39 percent at 66,428.09, while the Nifty closed at 19,811.50, up 79.75 points or 0.40 percent.

Stocks and Sectors
BPCL, Power Grid Corporation, SBI Life Insurance, HDFC Life and Coal India were top gainers on the Nifty, while losers included Tata Motors, L&T, UPL, IndusInd Bank and TCS.

On the sectoral front,all indices ended in the green with the power index up 1 percent, while FMCG, PSU Bank, metal and oil & gas added 0.5 percent each.

BSE Midcap index added 0.4 percent and Smallcap index gained 0.7 percent for the day.

On 17 Oct’23,the Indian Rupee rises 1 paisa to close at 83.26 against US dollar led by a positive trend in the domestic equity markets.

Forex traders said the rupee is trading with a slight positive bias on positive domestic markets. However, a strong US dollar and concerns over the ongoing conflict in the Middle East capped sharp gains.

Experts Take:
Market experts have recommended six stocks to buy for Tuesday-Hero MotoCorp, MCX, Zomato, Sundram Fasteners, Star Cement and Sreeleathers.