Sensex, Nifty end flat as FMCG stocks fall; HUL, Nestle India top losers
The S&P BSE Sensex was down 16.82 points to 80,065.16 at the closing bell, while the NSE Nifty50 ended 36.10 points lower at 24,399.40.
by Koustav Das · India TodayIn Short
- Sensex ends down 16.82 points, Nifty falls 36.10 points
- FMCG stocks slide; HUL, Nestle India report weaker Q2 results
- Foreign institutional investors continue selling
Benchmark stock market indices ended flat on Monday amid a slide in FMCG stocks and continued selling by foreign institutional investors.
The S&P BSE Sensex was down 16.82 points to 80,065.16 at the closing bell, while the NSE Nifty50 ended 36.10 points lower at 24,399.40.
Most of the broader market indices also fell during the session as volatility thrashed smallcap and midcap stocks.
The top five gainers on the Nifty50 were Ultratech Cement, Shriram Finance, M&M, Titan and Grasim.
On the other hand, the top losers were HUL, SBI Life, Hindalco, Nestle India and Bajaj Auto.
It may be noted that HUL shares nearly tanked 6% and Nestle India fell over 3%. Both companies reported weaker-than-expected results in Q2, citing sluggish demand.
Vinod Nair, Head of Research, Geojit Financial Services, “Despite persistent selloffs by FIIs, the benchmark indices recorded only a minor loss, as India’s October PMI data continued to indicate healthy growth, which also supports the RBI's growth guidelines for FY25.”
“The broader market exhibited a mixed response due to valuation corrections in sectors such as PSUs and banking & financials. Meanwhile, the FMCG sector faced declines attributed to delayed demand recovery and margin pressures,” he added.