Maket slip in negative territory; FMCG shares decline

The key equity indices traded near flat line in mid-afternoon trade despite positive global cues. Positive global cues failed to sustain investor enthusiasm as crude oil prices climbed. However, investors remained focused on the ongoing quarterly earnings season. Nifty traded below the 23,700 level.

FMCG shares witnessed selling pressure for the four consecutive trading sessions.

At 14:25 IST, the barometer index, the S&P BSE Sensex declined 96.47 points or 0.12% to 75,227.12. The Nifty 50 index fell 3.55 points or 0.02% to 23,655.45.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.24% and the BSE 250 SmallCap Index jumped 0.72%.

The market breadth was positive. On the BSE, 2,433 shares rose and 1,642 shares fell. A total of 231 shares were unchanged.

Economy:

The combined Index of Eight Core Industries (ICI) increased by 1.7% (provisional) in April, 2026 as compared to the Index in April, 2025. The production of cement, steel and electricity recorded positive growth in April, 2026. The cumulative growth rate of ICI during April to March, 2025-26 is 2.7% as compared to the corresponding period of last year.

The HSBC Flash India PMI Composite Output Index stood at 58.1 in May was down only marginally from 58.2 in April and therefore signalled another marked expansion in private sector activity. Underlying data showed that a pick-up in growth across the service economy was offset by a weaker increase in factory production, one that was the second-slowest since mid-2022, excluding March?s reading..

The HSBC Flash India Manufacturing PMI was down from 54.7 in April to 54.3 in May, indicating the secondweakest improvement in the health of the sector in close to four years after March. Meanwhile, the HSBC Flash India Services PMI Business Activity Index edged up to 58.9 in May from 58.8 in April, while the Manufacturing PMI Output Index eased slightly to 56.6 from 56.9 in the previous month.

Buzzing Index:

The Nifty FMCG index declined 0.61% to 50,213. The index fell 1.64% in four consecutive trading sessions.

Emami (down 3.78%), United Breweries (down 1.41%), Hindustan Unilever (down 1.15%), Tata Consumer Products (down 1.13%), Colgate-Palmolive (India) (down 1%), United Spirits (down 0.86%), Marico (down 0.8%), Godrej Consumer Products (down 0.72%), Britannia Industries (down 0.65%) and Dabur India (down 0.65%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 0.17% to 7.091 compared with the previous session close of 7.079.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 96.3650 compared with its close of 96.8600 during the previous trading session.

MCX Gold futures for 5 June 2026 settlement declined 0.28% to Rs 159,550.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 99.15.

The United States 10-year bond yield advanced 0.15% to 4.582.

In the commodities market, Brent crude for July 2026 settlement advanced 96 cents or 0.91% to $105.98 a barrel.

Stocks in Spotlight:

Jubilant FoodWorks dropped 7.39% after the quick-service restaurant operator reported Q4 FY26 performance. The company?s consolidated revenue from operations rose 19.3% YoY to Rs 2,499.5 crore in Q4 FY26 from Rs 2,095 crore in Q4 FY25. Profit after tax surged 67.1% YoY to Rs 82.4 crore in Q4 FY26 from Rs 49.3 crore in the year-ago quarter. PAT from continuing operations increased 67.3% to Rs 93.6 crore.

JSW Cement rallied 6.70% after the company?s consolidated net profit surged more than ten-fold to Rs 371.33 crore in Q4 FY26 from Rs 34.22 crore posted in Q4 FY25. Revenue from operations jumped 10.86% YoY to Rs 1,894.99 crore in the quarter ended 31st March 2026.

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