HNI Commodity Pack, Market Is Expected To Trade Range Bound Lack Of Any Major Triggers

Indian Benchmark Index Nifty opened at 9480 made a high of 9499 and closed at 9438 after making a low of 9428. Selling pressure was witnessed after a gap up opening.

FMCG stocks led the pack of gainers, while PSU banks and pharma led the losers. FMCG stocks extended their rally for the second straight session on Monday, surging up to 14% after the GST Council finalized rates for the bulk of the items last week. Shares of LT Foods soared 13.84%, ITC (6.21%), Venkys (5%), Kohinoor (4.34%), Marico (1.79%), Britannia (1.31%), HUL (1.07%) and Dabur (0.54%). Bank of India was down by (-10.96% ) after the bank posted dismal numbers. State bank was down (-4.42%) while Lupin and dives lab lost -(4.42%) and -(3.30%) each.

Bank Nifty traded weak throughout the day. The Index made a high of 22918 and closed at 22653 after making a low 22638.

Small cap Index continued its fall for the 3rd day.The Index opened at 7435 and closed at 7265 after making a low of 7255.

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