Nifty slips below 24,600 level; FMCG shares drop

The key equity benchmarks continued to trade with major losses in morning trade. Market sentiment remained subdued amid weak global cues, with concerns that the U.S. budget bill could significantly increase the national debt, potentially threatening the country's status as a global safe haven and triggering risk-off mood among investors. Traders are expected to monitor global bond markets and fiscal developments closely in coming days. The Nifty dropped below the 24,600 level.

FMCG shares declined after advancing in the past trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, fell 708.85 points or 0.89% to 80,871.92. The Nifty 50 index tumbled 233.45 points or 0.94% to 24,578.85.

In the broader market, the S&P BSE Mid-Cap index declined 0.13% and the S&P BSE Small-Cap index rose 0.29%.

The market breadth was positive. On the BSE, 1,714 shares rose and 1,711 shares fell. A total of 190 shares were unchanged.

Result Today:

Grasim Industries(down 1.19%), ITC(down 1.67%), Sun Pharmaceuticals Industries (down 0.96%), Astra Microwave Products(up 0.35%), Barbeque-Nation Hospitality(up 0.24%), Clean Science and Technology(up 0.57%), Container Corporation of India(up 0.30%), Deepak Fertilisers & Petrochemicals Corporation (up 0.38%), Emcure Pharmaceuticals(up 0.21%), Gandhar Oil Refinery (India)(up 0.58%), GMR Airports (up 0.05%), Goodluck India(down 1.18%), Greenpanel Industries(down 1.99%), Gujarat State Petronet(down 1.82%), Honasa Consumer(up 0.46%), Metro Brands(up 0.39%) and MTAR Technologies(up 0.68%) will declare their result later today.

Buzzing index:

The Nifty FMCG index declined 1.31% to 55,673.45. The index advanced 0.37% in the past trading session.

Colgate-Palmolive (India) (down 5.41%), Emami (down 2.8%), Marico (down 1.59%), Nestle India (down 1.52%), Hindustan Unilever (down 1.37%), ITC (down 1.22%), Britannia Industries (down 0.78%), Godrej Consumer Products (down 0.71%), United Breweries (down 0.68%) and Varun Beverages (down 0.54%) declined.

Colgate Palmolive (India) declined 5.41% after the company's standalone net profit fell 6.5% to Rs 355 crore on 1.9% decline in revenue from operations to Rs 1,452.02 crore in Q4 FY25 over Q4 FY24.

Stock in Spotlight:

Rail Vikas Nigam shed 0.28%. The company reported 4.05% decrease in consolidated net profit to Rs 459.15 crore in Q4 FY25 as against Rs 478.56 crore posted in Q4 FY24. Revenue from operations slipped 4.27% YoY to Rs 6,426.88 crore in the quarter ended 31 March 2025.

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