Indices trade with deep cuts, FMCG shares decline

The domestic equity indices traded with substantial losses in mid-afternoon trade. The Nifty traded below the 21,600 level. FMCG shares declined in the second consecutive trading sessions.

At 14:26 IST, the barometer index, the S&P BSE Sensex, was down 492.63 points or 0.68% to 71,533.52. The Nifty 50 index declined 153.45 points or 0.71% to 21,557.35.

In the broader market, the S&P BSE Mid-Cap index down 0.59% and the S&P BSE Small-Cap index shed 0.16%.

The market breadth was almost even. On the BSE, 1,970 shares rose and 1,980 shares fell. A total of 98 shares were unchanged.

Buzzing Index:

The Nifty FMCG index slipped 1.48% to 56,813.95. The index declined 1.54% in the two trading sessions.

Marico (down 4.15%), Godrej Consumer Products (down 3.73%), Dabur India (down 2.32%), Hindustan Unilever (down 1.78%), Britannia Industries (down 1.66%) Radico Khaitan (down 1.65%), Emami (down 1.53%), Nestle India (down 1.48%), ITC (down 1.26%) and United Breweries (down 1.12%) declined.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper shed 0.21% to 7.214 as compared with previous close 7.235.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.1125, compared with 83.1500 its close of during the previous trading session.

MCX Gold futures for 5 February 2024 settlement declined 0.59% to Rs 62190.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.10% to 102.51.

The United States 10-year bond yield slipped 0.29% to 7.214.

In the commodities market, Brent crude for March 2024 settlement loss 0.62 cent or 0.79% to $78.14 a barrel.

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