ETMarkets After Hours: IMD prediction boosts FMCG stocks; 130 stocks hit 52-week high

Equity benchmarks BSE Sensex and NSE Nifty scaled new closing highs as market sentiment got a boost after the India Meteorological Department (IMD) said the country may receive normal rainfall during the ensuing monsoon season.

The 30-share BSE Sensex closed 314 points, or 1.05 per cent, higher at 30,248, while the Nifty50 index closed 90 points, or 0.97 per cent, up at 9,407.

Here’s a look at the stocks and sectors that hogged limelight on Wednesday:

Raining gains: Fast moving consumer goods (FMCG) and fertiliser stocks rallied on Dalal Street on Wednesday after the Indian Meteorological Department (IMD) predicted that the monsoon rains could be 'normal' this year and can bring 100 per cent rainfall instead of 96 per cent forecast earlier. Cheering the news, the BSE FMCG index surged 1.81 per cent with EID Parry gaining the most at 5.25 per cent, followed by Balrampur Chini (up 4.60 per cent), Som Distilleries (up 4.42 per cent) and HUL (up 4.32 per cent). On the other hand, fertiliser stocks rallied up to 10 per cent. Southern Petrochemicals and Rashtriya Chemicals gained 9.93 per cent and 6.73 per cent, respectively.



Performer of the day: Shares of Bharti Airtel surged nearly 8 per cent on Wednesday despite weak Q4 earnings. The scrip closed 7.87 per cent higher at Rs 372. Deutsche Bank has maintained a ‘buy’ rating on Bharti Airtel despite the telecom major reporting 69 per cent year-on-year fall in net profit at Rs 470.60 crore for the quarter ended March 31, 2017.



Ahead of earnings: Shares of two-wheeler major Hero MotoCorp gained 1 per cent to Rs 3,322 ahead of financial results for the quarter ended March 31, 2017 later in the day.



@fresh 52-week high: As many as 130 stocks hit their fresh 52-week highs on NSE on Wednesday. The list included ABB India, Britannia, Chambal Fertilizers, CESC, Dalmia Bharat, Eicher Motors, Geojit Financial Services, HUL, Indian Bank, J Kumar, JK Paper and Maruti Suzuki.



Spurt in OI: Stock futures of Nestle India saw the biggest jump in open interest (OI) at 100 per cent. It was followed by Escorts (up 77.07 per cent), Capital First (up 48.32 per cent), Mahanagar Gas (up 36.94 per cent) and Berger Paints (up 36.24 per cent).



Most active securities: Suzlon emerged the most active stock in terms of traded volume on NSE on Wednesday. It was followed by JP Associates, Idea Cellular, Bharti Airtel and Reliance Communications.