Indices trade in negative terrain; FMCG shares drop

The key equity indices traded with major losses in mid-morning trade on Wednesday, as persistent concerns over elevated crude oil prices, weakness in heavyweight stocks and mixed corporate earnings continued to weigh on investor sentiment. Cautious positioning ahead of the US Federal Reserve?s monetary policy decision further dampened risk appetite, with investors awaiting clarity on the central bank?s interest rate outlook and its potential implications for global financial markets. The Nifty hovered below the 22,650 mark, reflecting continued weakness in the domestic equity market

FMCG shares declined, snapping a two-session winning streak.

At 11:25 IST, the barometer index, the S&P BSE Sensex declined 624.52 points or 0.85% to 72,981.19. The Nifty 50 index fell 129.65 points or 0.56% to 22,620.10.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index increased 0.08% and the BSE 250 SmallCap Index rose 0.02%.

The market breadth was negative. On the BSE, 1,811 shares rose and 2,097 shares fell. A total of 253 shares were unchanged.

Initial Public Offer (IPO)

EAAA India Alternatives received bids for 26,75,052 shares as against 52,99,684 shares on offer, according to stock exchange data at 11:25 IST on 28 October 2026. The issue was subscribed 0.50 times.

The issue opened for bidding on 26 October 2026 and will close on 28 October 2026. The price band of the IPO is fixed between Rs 1,585 and 1,665 per share. An investor can bid for a minimum of 9 equity shares and multiples thereof.

BLS Polymers received bids for 18,49,35,600 shares as against 1,19,00,000 shares on offer, according to stock exchange data at 11:25 IST on 28 October 2026. The issue was subscribed 15.54 times.

The issue opened for bidding on 27 October 2026 and will close on 29 October 2026. The price band of the IPO is fixed between Rs 142 and 150 per share. An investor can bid for a minimum of 100 equity shares and multiples thereof.

SFC Environmental Technologies received bids for 20,74,815 shares as against 1,41,59,744 shares on offer, according to stock exchange data at 11:25 IST on 28 October 2026. The issue was subscribed 0.15 times.

The issue opened for bidding on 27 October 2026 and will close on 29 October 2026. The price band of the IPO is fixed between Rs 313 and 330 per share. An investor can bid for a minimum of 45 equity shares and multiples thereof.

M. K. Sons Fine Jewels received bids for 11,05,104 shares as against 1,19,00,000 crore shares on offer, according to stock exchange data at 11:25 IST on 28 October 2026. The issue was subscribed 0.09 times.

The issue opened for bidding on 28 October 2026 and will close on 30 October 2026. The price band of the IPO is fixed between Rs 153 and 162 per share. An investor can bid for a minimum of 91 equity shares and multiples thereof.

Buzzing Index:

The Nifty FMCG index declined 1.65% to 42,406.15. The Nifty rose 1.03% in the past two trading sessions.

Varun Beverages (down 3.03%), Patanjali Foods (down 2.77%), Hindustan Unilever (down 2.63%), ITC (down 2.6%), Tata Consumer Products (down 1.94%), Nestle India (down 1.88%), Godfrey Phillips India (down 1.68%), Marico (down 1.31%), Godrej Consumer Products (down 1.3%) and Radico Khaitan (down 1.26%) declined.

Global Market:

Dow futures fell 123 points, signalling a higher opening for US stocks.

Asian indices advanced on Wednesday, as renewed optimism over artificial intelligence demand lifted technology stocks ahead of earnings from major US technology companies and the Federal Reserve's policy decision.

South Korean chipmaker SK Hynix's record quarterly results strengthened sentiment towards semiconductor stocks. The company reported a sharp increase in revenue and operating profit, driven by demand for high-bandwidth memory chips used in AI infrastructure.

US stocks advanced on Tuesday, 27 October 2026, as AI-related shares rallied and investors assessed corporate earnings ahead of the Federal Reserve's policy announcement. The Dow Jones Industrial Average edged up 15.99 points, or 0.03%, to 52,377.57. The S&P 500 gained 45.83 points, or 0.60%, to 7,722.60, while the Nasdaq Composite rose 308.43 points, or 1.18%, to 26,477.81.

Broadcom gained after announcing a $63 billion financing arrangement involving Bank of America, Blackstone, Citigroup and Morgan Stanley to fund AI computing capacity for Anthropic. The deal highlights the scale of financing now supporting AI infrastructure investment.

SK Hynix reported preliminary third-quarter revenue of 104.62 trillion won, up 327.9% year on year, while operating profit surged 557.2% to 83.33 trillion won. Net profit rose 215.7% to 39.78 trillion won. Revenue and operating profit reached record levels as demand for high-bandwidth memory and other AI-related products lifted chip prices.

Investors are now awaiting third-quarter results from Alphabet and Microsoft, due after the US market closes on Wednesday.

The Conference Board's US Consumer Confidence Index rose 7.5 points to 91.7 in October from a revised 84.2 in September, exceeding the Reuters poll forecast of 81. The improvement reflected better assessments of current business conditions and the near-term outlook, although concerns about living costs persisted.

US durable goods orders increased 1.8% in September, below the 2.0% forecast in one market calendar but above August's 0.1% increase. Excluding transportation, orders rose 0.5%. New single-family home sales declined 0.6% to an annualised rate of 676,000 units, exceeding the 650,000 forecast. The data pointed to resilience in parts of the economy, although durable goods orders missed the cited consensus estimate.

The Federal Reserve is due to announce its policy decision on Wednesday. Markets widely expect interest rates to remain unchanged, with investors looking for guidance on the future rate path amid inflation concerns and higher energy prices.

Powered by Capital Market - Live News