Closing Bell: Indian markets snap 3-day losing streak; FMCG, banking and financials surge most

The Indian markets on Monday snapped a three-day declining rally as Sensex gained over 300 points, while Nifty50 was above the 15800-level, led by FMCG along with banking and financials.

At the market close, the BSE Sensex gained over 327 points or 0.62 per cent to 53235, while Nifty50 up 83 points or 0.53 per cent to 15835. The broader markets outperformed the benchmarks as both Nifty mid and small-cap gained around 0.7 per cent at the close.

As many as 35 stocks advanced and 15 declined on Nifty50 at the close. FMCG stocks surge with palm oil prices falling 10 per cent, Nifty FMCG up 3 per cent - three of the top 5 Nifty gainers are FMCG stocks (HUL, Britannia and ITC). ITC continues the up move with stock rising to 3-year highs

Hindustan Unilever become the top Nifty gainer to close nearly 4 per cent higher, followed by IndusInd Bank and Britannia each up over 3 per cent, while ITC, ICICI Bank, Power Grid, and UPL were each up between 2-3 per cent at close.

On the contrary, ONGC continued to decline for the second straight session, down nearly 4 per cent on Monday, followed by TCS and Tata Steel down over 2 per cent each. While JSW Steel and Cipla each slipped nearly 2 per cent at the market close.

Metals stock remain weak as global prices fall, JSW Steel and Tata Steel are among the top Nifty losers. Auto stocks see a mixed reaction to June sales, M&M, and Tata Motors slipped while Bajaj Auto gained. City Gas companies rise as brokerages see ONGC’s expected 50 per cent price rise in October as ‘at risk’.

AU Small Fin Bank is a top Midcap loser with a fall of 3 per cent post quarterly update, while IDFC First Bank is a top midcap gainer after the business update, stock up 6 per cent. Siemens closed at a day’s high with a gain of 5 per cent on a positive brokerage note.