D-Street Buzz: Nifty FMCG outperforms, HUL jumps 5%, hits new high; PSU banks drag

The Indian equity market edged higher but is off the high point of the day following gains in Asian markets, on hopes that the worst of the coronavirus in China may have passed.

Sensex is up 388.87 points or 0.94 percent at 41605.01, and the Nifty jumped 101.70 points or 0.84 percent at 12209.60.

Nifty FMCG is the outperforming sector, up 2 percent led by Hindustan Unilever which jumped over 5 percent, hitting all-time high after Motilal Oswal retained its bullish stance, seeing significant 'levers' for company's earnings growth.

The other gainers included Godrej Consumer which added 3 percent followed by Dabur India, Nestle India and United Spirits.

Bank Nifty added half a percent led by Kotak Mahindra Bank, ICICI Bank, HDFC Bank and Axis Bank.

However, PSU banks are under pressure with the top losers being Allahabad Bank which disappointed with its Q3 earnings followed by Indian Bank, Bank of Baroda, Punjab National Bank, J&K Bank and Union Bank of India among others.

India VIX shed 2.02 percent and was trading at 13.60 level.

The top gainers from Nifty are Hindustan Unilever, Kotak Mahindra Bank, Nestle India, JSW Steel and Wipro while the top losers included YES Bank, Bharti Infratel, IndusInd Bank, BPCL and State Bank of India.

106 stocks hit new 52-week high on BSE including Shilpa Medicare, Metropolis Healthcare, Ipca Labs, Hindustan Unilever, GSK Consumer, Can Fin Homes, Strides Pharma, Dabur India, L&T Infotech, Relaxo Footwear and Asian Paints among others.

177 stocks hit 52-week low on BSE including Allahabad Bank, Bharat Heavy Electricals, OBC, PNB, Future Consumer and Engineers India among others.

About 884 shares have advanced, 1377 shares declined, and 132 shares are unchanged.