FX.co ★ Sensex, Nifty Modestly Higher In Early Trade; FMCG Stocks Decline

On Wednesday, Indian equities experienced a moderate uptick, influenced by positive trends from global counterparts and renewed optimism about a potential rate reduction by the Reserve Bank of India in the upcoming week.

Early in the trading session, the key index, S&P BSE Sensex, saw an increase of 230 points, equivalent to a 0.3% rise, bringing it to 76,132. Meanwhile, the NSE Nifty index similarly advanced, climbing 84 points or 0.4% to reach 23,041.

A standout performer was Bajaj Auto, which surged by 3.7%, alongside TVS Motor, which soared nearly 7% following their announcement of unexpectedly strong results for the October-December quarter.

Other notable gainers included BEL, Shriram Finance, Tech Mahindra, and Trent, each appreciating around 2%. Conversely, the Fast-Moving Consumer Goods sector saw some declines, with companies like Nestle India, Britannia Industries, Hindustan Unilever, and Tata Consumer Products experiencing losses ranging from 0.5% to 1%.

Hyundai Motor shares ticked up slightly, even as the company disclosed a 19% drop in its Q3 net profit. In another development, Hindustan Zinc rose by 1.5%, following the shelving of its demerger plans.