Nifty slides below 25,150 mark; FMCG shares drop

The headline equity indices traded with moderate losses in the morning trade. The market could experience volatility today due to the weekly F&O expiry of Nifty and Bank Nifty. The Nifty traded below the 25,150 mark. FMCG shares extended losses for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, slipped 226.75 points or 0.28% to 81,931.47. The Nifty 50 index lost 74.80 points or 0.29% to 25,129.25.

In the broader market, The S&P BSE Mid-Cap index declined 0.28% and the S&P BSE Small-Cap index fell 0.23%.

The market breadth was negative. On the BSE, 1,634 shares rose and 2,027 shares fell. A total of 234 shares were unchanged.

New Listing:

Shares of Euro Pratik Sales were currently trading at Rs 252 at 10:11 IST on the BSE, representing a premium of 2.02% compared with the issue price of Rs 247.

The scrip was listed at Rs 273.45, reflecting a premium of 10.71% to the issue price.

So far, the stock has hit a high of Rs 279.55 and a low of Rs 251.20. On the BSE, over 6.43 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty FMCG index dropped 0.93% to 55,485.25. The index fell 1.83% in the three consecutive trading sessions.

Radico Khaitan (down 1.33%), Nestle India (down 1.32%), Britannia Industries (down 1.14%), Godrej Consumer Products (down 1.02%), Dabur India (down 0.81%), ITC (down 0.74%), Tata Consumer Products (down 0.70%), United Spirits (down 0.60%), Colgate-Palmolive (India) (down 0.51%) and Hindustan Unilever (down 0.44%) declined.

On the other hand, Patanjali Foods (up 0.67%) and United Breweries (up 0.24%) edged higher.

Stocks in Spotlight:

Refex Industries surged 16.49% after the company's board approved a composite scheme of arrangement aimed at unlocking value from its green mobility business.

Shilpa Medicare rallied 3.03% after the firm received the initial authorization from European Medicine Agency (EMA), recommending final marketing approval for its Rivaroxaban Orodispersible Films (ODF).

ACME Solar Holdings shed 0.92%. The company has secured domestic funding of Rs 1,100 crore from the State Bank of India (SBI) to refinance existing debt for its 300 MW renewable energy project in Rajasthan.

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