Sensex, Nifty Swing To Losses As FMCG, Telecom Decline: Midday Market Update
The Sensex declined 0.26% (over 150 points) to 59,674.63. The Nifty 50 fell by similar magnitude to 17,686.95.
India's stock benchmarks declined in a volatile session, dragged by losses in FMCG, telecommunication, and banking stocks while metal, auto, and information technology stocks advanced.
The Sensex declined 0.26% or over 150 points to 59,674.63 on the BSE, while the Nifty 50 fell by similar magnitude to 17,686.95 on the NSE. Among the Nifty 50 constituents, 26 stocks advanced while 24 declined.
Tech Mahindra Ltd., JSW Steel Ltd., Maruti Suzuki India Ltd., Tata Motors Ltd. and Hindalco Industries Ltd. gained the most, while Nestle India Ltd., Britannia Industries Ltd, Hindustan Unilever Ltd., Kotak Mahindra Bank Ltd. and Bajaj Finserv Ltd. declined the most among Nifty 50 stocks.
The broader indices outperformed their large peers with the mid-cap gauge gaining 0.34% and the small cap remaining little changed. Eleven of the 19 the sectoral measures complied of BSE Ltd. advanced.
The market breadth is skewed in the favour of bears. About 1,391 stocks rose, 1,853 fell and 119 remained unchanged.