Indices trade with minor gains; FMCG shares advance

The domestic equity indices traded with decent gains in the afternoon trade tracking positive global cues. Market mood stayed buoyant on hopes of easing India-U.S. diplomatic tensions and rate-cut expectations from the U.S. Federal Reserve next week. The Nifty traded above the 24,900 level.

FMCG shares witnessed buying demand for second consecutive trading session.

At 14:25 IST, the barometer index, the S&P BSE Sensex gained 207.95 points or 0.26% to 81,309.27. The Nifty 50 index rose 74.55 points or 0.29% to 24,940.50.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.62% and the S&P BSE Small-Cap index jumped 0.62%.

The market breadth was negative. On the BSE, 2,366 shares rose and 1,699 shares fell. A total of 166 shares were unchanged.

Fitch Ratings:

Global ratings agency Fitch Ratings has revised its growth forecast for India, raising its projection for the fiscal year ending March 2026 (FY26) to 6.9 percent, up from the previous 6.5 percent.

India-US Trade Deal

US President Trump indicated progress in India-US trade negotiations, a move that could lift sentiment in Indian equities. He expressed confidence in concluding discussions with Prime Minister Narendra Modi, who underscored the strategic importance of the India-US partnership.

Buzzing Index:

The Nifty FMCG index jumped 0.36% to 56,698.70. The index increased 0.94% for the two trading sessions.

Emami (up 1.69%), Radico Khaitan (up 1.36%), Tata Consumer Products (up 1.07%), Britannia Industries (up 0.94%) and Nestle India (up 0.82%) were the top gainers. Among the other gainers were Godrej Consumer Products (up 0.58%), ITC (up 0.54%), Varun Beverages (up 0.48%), Dabur India (up 0.32%) and United Spirits (up 0.25%) surged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.28% to 6.504 from the previous close of 6.486.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.1400 compared with its close of 88.1525 during the previous trading session.

MCX Gold futures for 3 October 2025 settlement rose 0.04% to Rs 109,076.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 97.82.

The United States 10-year bond yield added 0.17% to 4.079.

In the commodities market, Brent crude for November 2025 settlement rose 59 cents or 0.89% to $66.98 a barrel.

Stock in Spotlight:

Vikram Solar rallied 4.41% after the company's consolidated net profit soared 483.9% to Rs 133.36 crore in Q1 FY26, compared with Rs 22.84 crore posted in same quarter last year. Revenue from operations jumped 79.7% YoY to Rs 1,133.58 crore during the quarter ended 30th June 2025.

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