Market trades sideways; FMCG shares decline for 3rd day

The domestic equity benchmarks traded sideways in the early-afternoon trade as investor risk appetite improved as crude oil prices eased below the $90-per-barrel mark, providing some relief to sentiment. The Nifty traded below the 24,100 level.

Market participants remained focused on the upcoming speech by Kevin Warsh, who is set to deliver his first major address as Federal Reserve chair at the annual Kansas City Fed economic symposium in Jackson Hole, Wyoming. The address is being closely watched for indications of the US central bank?s monetary policy outlook.

FMCG shares extended losses for the third consecutive trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex, added 102.78 points or 0.13% to 77,036.37. The Nifty 50 index shed 2.06 points or 0.01% to 24,089.05.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index rose 0.10% and the BSE 250 SmallCap Index added 0.30%.

The market breadth was positive. On the BSE, 2,133 shares rose and 1,892 shares fell. A total of 268 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.60% to 11. The Nifty 29 September 2026 futures were trading at 24,270.20, at a premium of 181.15 points as compared with the spot at 24,089.05.

The Nifty option chain for the 29 Spetmber 2026 expiry showed a maximum call OI of 60.1 lakh contracts at the 25,000 strike price. A maximum put OI of 57.9 lakh contracts was seen at the 24,000 strike price.

Buzzing Index:

The Nifty FMCG index declined 0.62% to 46,740.05. The index fell 2.02% in three consecutive trading sessions.

Tata Consumer Products (down 0.91%), ITC (down 0.87%), Godrej Consumer Products (down 0.79%), United Breweries (down 0.79%), Colgate-Palmolive (India) (down 0.71%), Nestle India (down 0.66%), United Spirits (down 0.61%), Marico (down 0.49%), Patanjali Foods (down 0.43%) and Emami (down 0.41%) declined.

Stocks in Spotlight:

Tejas Networks surged 9.11% after the company received a Letter of Intent (LoI) from Tata Consultancy Services (TCS) for the supply of equipment for BSNL's 4G mobile network.

RailTel Corporation of India rose 0.13%. The company announced that it has secured a work order worth Rs 38.59 crore from the Cotton Corporation of India (CCI) for cloud data centre services.

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