Nifty slides below 24,900 level; FMCG shares decline; VIX rallies 3.49%

The domestic equity benchmarks traded with modest losses in early afternoon trade, tracking weak global cues, as investor sentiment turned cautious ahead of key domestic economic data releases. The Nifty traded below the 24,900 level. FMCG shares declined after advancing in the past two consecutive trading sessions.

At 12:30 ST, the barometer index, the S&P BSE Sensex, slipped 376.91 points or 0.46% to 81,799.54. The Nifty 50 index lost 148.55 points or 0.62% to 24,852.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.13% and the S&P BSE Small-Cap index added 0.32%.

The market breadth was positive. On the BSE, 1,948 shares rose and 1,824 shares fell. A total of 163 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.49% to 18.65. The Nifty 29 May 2025 futures were trading at 25,003.30, at a premium of 150.70 points as compared with the spot at 24,852.60.

The Nifty option chain for the 29 May 2025 expiry showed a maximum call OI of 139.1 lakh contracts at the 26,000 strike price. Maximum put OI of 111.4 lakh contracts was seen at a 24,000 strike price.

Buzzing Index:

The Nifty FMCG index slipped 0.22% to 56,922.65. The index advanced 2.61% in the past two consecutive trading sessions.

United Breweries (down 1.44%), United Spirits (down 1.14%), Tata Consumer Products (down 0.94%), Godrej Consumer Products (down 0.90%), ITC (down 0.29%), Britannia Industries (down 0.07%), Patanjali Foods (down 0.05%) and Hindustan Unilever (down 0.02%) declined.

On the other hand, Radico Khaitan (up 1.17%), Emami (up 0.83%) and Dabur India (up 0.59%) edged higher.

Stocks in Spotlight:

Brainbees Solutions fell 5.70% after the company?s consolidated net loss widened to Rs 76.74 crore in Q4 FY25, compared with a net loss of Rs 51.74 crore in Q4 FY24. Revenue from operations jumped 15.8% YoY to Rs 1,930.32 crore in Q4 FY25.

Olectra Greentech dropped 6.22% after the company?s consolidated net profit slipped 55.2% to Rs 20.69 crore in Q4 FY25, compared with Rs 46.62 crore in Q3 FY25. Revenue from operations declined 12.89% QoQ to Rs 448.92 crore during the quarter.

Venus Remedies soared 11.39% after the company reported a 99.80% surge in consolidated net profit to Rs 21 crore in Q4 FY25 as against Rs 10.51 crore recorded in Q4 FY24. However, revenue from operations decreased marginally to Rs 194.97 crore in Q4 FY25, as against Rs 195.16 crore posted in the corresponding quarter of the previous year.

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