Sensex slides 520 pts; FMCG shares decline

The key equity benchmarks traded with modest cuts in early afternoon trade, weighed down by weakness in banking shares after the Reserve Bank of India tightened Cash Reserve Ratio (CRR) maintenance norms for banks. Investor sentiment also remained subdued ahead of India's inflation data, due later in the day. Despite a recent decline, crude oil prices remained elevated, keeping inflationary concerns in focus. The Nifty slipped below the 22,400 level. FMCG shares declined after advancing in the past trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 519.66 points or 0.74% to 71,950.44. The Nifty 50 index fell 138.45 points or 0.61% to 22,382.

In the broader market, the BSE 150 MidCap Index added 0.33% and the BSE 250 SmallCap Index rose 1.10%.

The market breadth was weak. On the BSE, 2,343 shares rose and 1,880 shares fell. A total of 285 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.04% to 15.39. The Nifty 27 October 2026 futures were trading at 22,436.10 at a premium of 120.95 points as compared with the spot at 22,774.05.

The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 87.3 crore contracts at the 23,500 strike price. A maximum put OI of 52 crore contracts was seen at the 23,500 strike price.

Buzzing Index:

The Nifty FMCG index declined 1.54% to 44,174.95. The index rose 2.20% in the past trading session.

ITC (down 2.63%), Dabur India (down 2.13%), United Breweries (down 1.65%), Colgate-Palmolive (India) (down 1.49%) and Hindustan Unilever (down 1.48%), Marico (down 1.39%), Varun Beverages (down 1.32%), United Spirits (down 1.24%), Britannia Industries (down 1.11%) and Nestle India (down 1.04%) fell.

Stocks in Spotlight:

Waterways Leisure Tourism spurted 6.25% after the company reported a consolidated adjusted net profit of Rs 10.98 crore in Q2 FY27, compared with a loss of Rs 8.93 crore in Q2 FY26. The company received exceptional income of Rs 49.48 crore from $5.2 million in compensation for the early delivery and handover of the vessel SKY on 10 September 2026, ahead of its originally scheduled delivery date of 30 September 2026. The compensation was received under an agreement dated 1 September 2026 with Norwegian Sky Limited and was classified as an exceptional item. Net sales rose 30.88% YoY to Rs 132.90 crore from Rs 101.54 crore in the year-ago quarter.

Avenue Supermarts fell 4.21% after the company reported a 7.64% YoY increase and a 14.12% QoQ decline in standalone profit after tax to Rs 803.60 crore in Q2 FY27. Revenue from operations rose 18.42% YoY and 4.70% QoQ to Rs 19,206.18 crore, compared with Rs 16,218.79 crore in Q2 FY26 and Rs 18,343.49 crore in Q1 FY27.

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