Markets open firm, FMCG leads surge

Mumbai: The market is trading firm amid buying in pharma, FMCG, capital goods, auto, consumer durables and select oil stocks. Weakness however is seen in some technology stocks.

The market is trading firm. At 11:17 am, the Sensex is up 31.56 points at 10076.38. It has touched an all-time high of 10,116.24.

The Nifty is up 10.90 points at 10.90 points at 3019.85. It has touched an all-time high of 3025.90.

The CNX Midcap Index is up 43.10 points at 4413.85. It has touched an all-time high of 4413.85.

The BSE Small Cap Index is up 1.21% and the BSE Midcap Index is up 0.69%.

The market breadth is positive, about 1328 shares have advanced, 794 shares declined, and 81 shares are unchanged.

Analysts say the market is likely to be rangebound with Nifty remaining within the 2990-3030 band with a positive bias. There is not much short-covering happening in the market.

Zee, Cipla, Larsen, HLL, Hero Honda and ITC are the biggest index gainers.

ICICI Bank, Bharti Tele, Infosys, Nalco and ABB are the biggest index losers.

A rally is seen in pharma, FMCG and capital goods stocks. The BSE Healthcare Index is up 1.76% and the BSE FMCG Index is up 1.75%. The BSE Capital Goods Index is up 1.52%.

Buying is also seen auto, consumer durables and select oil stocks.

The BSE Auto Index is up 0.93% and the BSE Consumer Durables Index is up 0.62%. The BSE Oil & Gas Index is up 0.24%.

Weakness however is seen in some technology stocks. The BSE IT Index is down 0.35%.

Select banking and metal stocks have also lost ground.