Sensex extends gains to hit fresh high, Nifty tests 9,500; FMCG stocks rise

The benchmark indices extended gains on Friday with S&P BSE Sensex hitting fresh record high, tracking a rebound in global markets, while back home, FMCG stocks rallied after GST Council notified the rates for 1,211 goods on Thursday. At 10:08 am, the S&P BSE Sensex was trading at 30,669, up 235 points, while the broader Nifty50 was ruling at 9,493, up 64 points. In the broader market, the S&P BSE Midcap the S&P BSE Smallcap indices added 0.8% and 1%, respectively. "We would continue with the positive bias as long as Nifty manages to hold the important support of 9,372. Only a sustainable move below this level would apply brakes on ongoing optimism. However, as of now, we do not want enter this bandwagon. We would rather expect the index to reclaim the 9,500 mark soon," said brokerage Angel Broking in a technical note. Commodity Trading Tips

Sectors and stocks 

Nifty FMCG was the leading sectoral gainer and gained over 4%, led by gains in Colgate Palmolive (up 6%), ITC (5.5%), Marico (up 4%), Tata Global (3.5%) and Emami (up 2.2%).  ITC and HUL were the best performers on Sensex and jumped up to 6% on the BSE. Bank of Baroda rallied over 4% after the company reported a fourth-quarter net profit of Rs 155 crore ($23.89 million). The Mumbai-based bank, the fifth-biggest in the country by assets, had reported a net loss of Rs 3,230 crore in the year-ago quarter. Nifty Trading Tips