Closing Bell: Indian markets end 3-day losing streak; FMCG, Banking & Financials grew the most

On Monday, Indian markets recorded a three-day lower rally as Sensex gained over 300 points, while Nifty50 was above the 15800 level, led by FMCG with banks and financials.

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

No less than 35 stocks rose and 15 fell on Nifty50 at the close. FMCG stocks rise with palm oil prices down 10%, Nifty FMCG up 3% – three of Nifty’s top 5 gainers are FMCG stocks (HUL, Britannia and ITC). ITC continues bullish move with stocks hitting 3-year highs

Hindustan Unilever became Nifty’s top gainer to close nearly 4% higher, followed by IndusInd Bank and Britannia each up more than 3%, while ITC, ICICI Bank, Power Grid and UPL each rose 2%. 3% at closing.

On the contrary, ONGC continued to fall for the second straight session, down almost 4% on Monday, followed by TCS and Tata Steel down more than 2% each. While JSW Steel and Cipla each slipped almost 2% at market close.

Metals stock remains weak as global prices fall, JSW Steel and Tata Steel are among Nifty’s biggest 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 brokers consider 50% price hike forecast by ONGC in October ‘at risk’.

AU Small Fin Bank is a top midcap loser with a 3% drop after the quarterly update, while IDFC First Bank is a top midcap gainer after the business update with a 6% increase. Siemens closed at the day’s high with a 5% gain on a positive brokerage note.