Fast moving consumer goods, information technology, auto, and pharma sectoral indices struggled to recoup losses in Tuesday's session. These four were the only losers among the 12 sectors compiled by National Stock Exchange Ltd.
Nifty FMCG Hits Lowest Level Since May 2023
The NSE Nifty FMCG declined 1.03% and hit a 22-month low. The day's low was 50,199.35, the lowest level since May 26, 2023. The index reversed one-day gain in Tuesday's session.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Sentiment for FMCG companies changed as investors figured out that the tax incentives announced in the budget for financial year 2025-26 will only benefit companies which cater to discretionary consumption. Companies serving the need for daily essentials will not really support other FMCG companies.
Colgate Palmolive (India) Ltd., Nestle India Ltd., and Marico Ltd. shares were top loser in the index around noon.
Nifty IT Hits Eight-Month LowÂ
The NSE Nifty IT declined 2.17% and hit an eight-month low. The index has been on a downward trajectory on concerns of monetary conditions in the US and discretionary demands. Indian IT companies conduct substantial businesses in the US.
Shares of LTIMindtree Ltd., Persistent Systems Ltd., and HCLTech Ltd. were top losers in the IT index.
Nifty Auto Falls To Nearly One-Year LowÂ
The NSE Nifty Auto declined 1.36% and hit nearly one-year low. Bajaj Auto Ltd. and Hero MotoCorp Ltd. stocks were top loser in the index, which was trading 1.06% down at 20,321.00 as of 11:47 a.m.
Weakening currency and retail sales and overall weakness in risk-off sentiment in the markets weighed on the Nifty Auto.
Nifty Pharma Hits Eight-Month LowÂ
The NSE Nifty Pharma snapped one day of rise to fall 1.23% and hit eight-month-low on Tuesday, tracking broad-based weakness in overall market.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.