Market recovers from lows but trade lower; FMCG shares extend losses

The domestic equity benchmarks recovered from some of their losses and traded with moderate declines in the early-afternoon trade as investors assessed a slew of Q1 FY27 earnings announcements amid the ongoing results season. Sector- and stock-specific movements remained in focus, while investors also tracked the progress of the monsoon, an important factor for the broader economic outlook.

The Nifty traded below the 24,300 level, while market sentiment remained subdued in the absence of strong directional cues. Investors continued to monitor movements in crude oil and gold prices, along with developments on the global geopolitical front, for further indications on the market's near-term trajectory.

FMCG shares extended losses for the second consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex dropped 340.41 points or 0.44% to 77,668.84. The Nifty 50 index fell 77.40 points or 0.31% to 24,288.30.

In the broader market, the BSE 150 MidCap Index shed 0.02% and the BSE 250 SmallCap Index fell 0.14%.

The market breadth was negative. On the BSE, 1,820 shares rose and 2,433 shares fell. A total of 256 shares were unchanged.

Derivatives :

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.48% to 11.47. The Nifty 25 August 2026 futures were trading at 24,347 at a premium of 58.70 points as compared with the spot at 24,288.30.

The Nifty option chain for the 25 August 2026 expiry showed a maximum call OI of 96.4 lakh contracts at the 25,000 strike price. Maximum put OI of 97.5 lakh contracts was seen at a 24,000 strike price.

Buzzing Index:

The Nifty FMCG index fell 0.75% to 48,249.45. The index dropped 1.20% in two consecutive trading sessions.

ITC (down 1.74%), Nestle India (down 1.21%), Colgate-Palmolive (India) (down 0.91%), Hindustan Unilever (down 0.84%), Godrej Consumer Products (down 0.77%), Tata Consumer Products (down 0.77%), Marico (down 0.54%), United Breweries (down 0.52%), Britannia Industries (down 0.48%) and Emami (down 0.33%) declined.

Stocks in Spotlight:

PhysicsWallah jumped 6.10% after the company reported a significant improvement in operating profitability in Q1 FY27, with EBITDA turning positive. On a consolidated basis, loss for the period narrowed to Rs 88 crore in Q1 FY27 from Rs 127 crore in Q1 FY26 and Rs 69 crore in Q4 FY26. Revenue from operations increased 24% YoY and 14.7% QoQ to Rs 1,054 crore in Q1 FY27.

Anupam Rasayan India shed 0.11%. The company has reported a 6% rise in consolidated net profit to Rs 512 crore on a 35% increase in revenue from operations to Rs 6,550 crore in Q1 FY27 as compared with Q1 FY26.

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