19 May Closing Update- Sensex settles with small gains, FMCG stocks gained

sensex up The last trading day witnessed a divergent trend as the BSE index, Sensex settled with small gains whereas the NSE Nifty settled a bit lower. The Sensex, rose 30.13 points or 0.1% at 30,464.92,. The Nifty index was off 1.55 points or 0.02% at 9,427.90, Gains triggered by stable global stocks and reports of the GST Council finalizing rates for most goods were mostly offset by profit booking.

SBI rose 1.9 percent after net profit rose 122.72 percent to Rs 2,814.82 Cr, on 7.83 percent increase in total income to Rs 57,720.10 crore in Q4 FY17 year-on-year. FMCG stocks gained on hopes the new GST rates reportedly announced by the govt will cut the tax incidence from the current level.

HUL rose 2.19%, Britannia Industries rose 1.35%, Colgate-Palmolive went up Dabur India Ltd, rose 1.17%, Godrej Consumer Products rose 1.19%, Marico rose 1.34%, Nestle India up 0.04% and Tata Global Beverages rose 1.42%.

Asian stocks gained after a lethargic start on strong U.S economic data overnight since some risk appetite returned in spite of caution over political turmoil in the USA.