Sensex, Nifty Decline; Metals, FMCG, Banking Stocks Drag: Midday Market Update
Indian stock benchmarks declined, dragged by losses in FMCG, metals, banks and commodities.
The Sensex fell nearly 300 points (0.5%) to trade at 57,938.01. The Nifty 50 lost 0.5% to 17,244.10 as of 12:40 p.m. Of the Nifty 50 constituents, 37 stocks fell and 13 rose.
Titan Co., Hero MotoCorp Ltd., Bajaj Auto Ltd., Maruti Suzuki India Ltd., Bharti Airtel and Oil and Natural Gas Corp. were the top gainers.
JSW Steel Ltd., Adani Ports and Special Economic Zone Ltd., UltraTech Cement Ltd., Tata Consumer and State Bank of India Ltd. were the top laggards.
The mid-cap index underperformed its larger peers, down 0.7%. The small-cap gauge fell 0.2%. Seventeen of the 19 sectoral indices compiled by BSE Ltd. declined, with metal falling nearly 1.5%.
The market breadth was skewed in favour of the bears. About 1,711 stocks fell, 1,534 rose and 143 remained unchanged.
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