Nifty trades below 25,350 mark; FMCG shares drop

The headline equity benchmarks traded with substantial losses in the morning session, weighed down by weak global cues and rising geopolitical tensions surrounding Iran. The Nifty slipped below the 25,350 mark. FMCG shares extended their losses for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, dropped 484.10 points or 0.59% to 81,762.08. The Nifty 50 index slumped 166.45 points or 0.65% to 25,330.35.

In the broader market, the BSE 150 MidCap Index slumped 0.81% and the BSE 250 SmallCap Index fell 0.67%.

The market breadth was weak. On the BSE, 1,381 shares rose and 2,190 shares fell. A total of 210 shares were unchanged.

 

New Listing:

Shares of Gaudium IVF and Women Health were currently trading at Rs 80.12 at 10:10 IST on the BSE, representing a premium of 1.42% as compared with the issue price of Rs 79.

The stock was listed at Rs 83, reflecting a premium of 5.06% to the issue price.

So far, the stock has hit a high of 87.15 and a low of 79.05. On the BSE, over 3.45 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty FMCG index tumbled 1.41% to 51,290.70. The index fell 1.80% in three consecutive trading sessions.

Dabur India (down 2.09%), Radico Khaitan (down 2.07%), Godrej Consumer Products (down 1.82%), Nestle India (down 1.78%), Hindustan Unilever (down 1.71%), Marico (down 1.58%), Tata Consumer Products (down 1.41%), Patanjali Foods (down 1.34%), Colgate-Palmolive (India) (down 1.34%) and Emami (down 1.30%) declined.

Stocks in Spotlight:

MSTC added 1.75% after it has secured a contract from Coal India to provide end-to-end services for Non-Regulated Sector (NRS) linkage auctions.

Dee Development Engineers shed 0.71%. The company announced that has secured a letter of intent (LoI) for manufacturing alloy steel seamless pipes at its new forged seamless pipe plant in Anjar, Gujarat.

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