Nifty Surpasses 23,500 Mark Amid Strong FMCG Gains
Nifty tad above 23,500 level; FMCG shares rally
Business Standard
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The Nifty 50 index rose by 117.15 points to reach 23,501.25 as FMCG shares rebounded from previous declines. The S&P BSE Sensex also saw gains, climbing 312.32 points to 74,871.56. Investors are closely watching upcoming Q4 earnings reports.
- 01Nifty 50 index increased by 0.52% to 23,501.25.
- 02S&P BSE Sensex rose by 0.42% to 74,871.56.
- 03FMCG shares rebounded, with the Nifty FMCG index up 0.78%.
- 04Retail inflation in India rose to 3.48% in April 2026.
- 05The rupee hit a record low of 95.7750 against the dollar.
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In mid-afternoon trading, the Nifty 50 index gained 117.15 points or 0.52%, reaching 23,501.25, while the S&P BSE Sensex increased by 312.32 points or 0.42% to 74,871.56. This upward movement was supported by a rebound in FMCG shares, which had previously declined. The Nifty FMCG index rose 0.78% to 50,846.90. Notable gainers included Varun Beverages and ITC, both showing increases of over 1%. The broader market outperformed the frontline indices, with the BSE 150 MidCap Index climbing 1.21% and the BSE 250 SmallCap Index increasing 0.62%. Meanwhile, India's retail inflation rose to 3.48% in April 2026, driven by food inflation, which accelerated to 4.20%. The rupee also faced pressure, hitting a record low of 95.7750 against the dollar, influenced by high crude oil prices.
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The rise in the Nifty index and FMCG shares can boost investor confidence and potentially lead to increased spending in the economy. However, the record low of the rupee may affect import costs, impacting consumers.
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