Market Now: FMCG stocks sag; Dabur cracks 2%
Disappointing quarterly earnings by some blue- chip companies and weak global cues made investors cautious.
By ETMarkets.com | Updated:
NEW DELHI: FMCG stocks Dabur India (down 1.86 per cent), Godrej Industries (down 1.70 per cent), ITC (down 1.60 per cent), Marico (down 1.19 per cent) and Hindustan Unilever (down 1.12 per cent) were trading in the red in morning trade on Wednesday.
The Nifty FMCG index was trading 1.14 per cent down at 25,287 around 10:20 am (IST).
Shares of Godrej Consumer Products (down 0.96 per cent), GlaxoSmithKline Consumer Healthcare (down 0.83 per cent), United Breweries (down 0.60 per cent), Procter & Gamble Hygiene & Healthcare (down 0.36 per cent), Emami (down 0.26 per cent), Colgate-Palmolive (India) (down 0.06 per cent) and United Spirits (down 0.05 per cent) also appeared dull.
However, shares of Jubilant Foodworks (up 2.04 per cent) gained over 2 per cent. Britannia Industries (up 0.04 per cent) and Tata Global Beverages (up 0.04 per cent) were also marginally up around that time.
Equity markets were trading in the negative territory, weighed down by metal, pharma, FMCG stocks, as trade deficit widened to an almost 3-year high.
Moreover, disappointing quarterly earnings by some blue- chip companies and weak global cues made investors cautious.
Among the 51 stocks in Nifty index, 21 were trading in green, while 29 were in red.
Shares of Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Indian Oil Corporation, Ambuja Cements, Tech Mahindra and Tata Consultancy Services were among the top gainers in the Nifty50 index.
However, Hindalco, Vedanta, Indiabulls Housing Finance, Sun Pharma, HCL Tech and NTPC were among top losers.
The Nifty FMCG index was trading 1.14 per cent down at 25,287 around 10:20 am (IST).
Shares of Godrej Consumer Products (down 0.96 per cent), GlaxoSmithKline Consumer Healthcare (down 0.83 per cent), United Breweries (down 0.60 per cent), Procter & Gamble Hygiene & Healthcare (down 0.36 per cent), Emami (down 0.26 per cent), Colgate-Palmolive (India) (down 0.06 per cent) and United Spirits (down 0.05 per cent) also appeared dull.
However, shares of Jubilant Foodworks (up 2.04 per cent) gained over 2 per cent. Britannia Industries (up 0.04 per cent) and Tata Global Beverages (up 0.04 per cent) were also marginally up around that time.
Equity markets were trading in the negative territory, weighed down by metal, pharma, FMCG stocks, as trade deficit widened to an almost 3-year high.
Moreover, disappointing quarterly earnings by some blue- chip companies and weak global cues made investors cautious.
ADVERTISEMENT
Among the 51 stocks in Nifty index, 21 were trading in green, while 29 were in red.
Shares of Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Indian Oil Corporation, Ambuja Cements, Tech Mahindra and Tata Consultancy Services were among the top gainers in the Nifty50 index.
However, Hindalco, Vedanta, Indiabulls Housing Finance, Sun Pharma, HCL Tech and NTPC were among top losers.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
