Live: FMCG, banking stocks take NSE below 8,500 level
FMCG stocks faced heavy selling pressure on NSE exchange. The index slumped nearly 211 points or 0.96% at 21,762.40. Major FMCG player were on hotbed with Hindustan Unilever taking the top loser spot after reporting its Q1FY17 performance. HUL dipped by 3.03% at Rs. 894. Other noticable losers were, Dabur India at Rs. 306.90 down by 2.18%, followed by Britannia Industries at Rs. 2,767.45 (1.73%) and Godrej Consumer product at Rs. 1,561.40 (1.49%). Emami, Jubilant Foodworks and Marico were trading in the range of 0.70% - 1.20%. However, ITC was trading flat at Rs. 248.70.
Jindal Steel and Power ltd was trading above 0.94% at Rs. 69.60 as its shareholders have approved sale of 1,000 MW power plant in Chhattisgarh to brother Sajjan Jindal’s firm, JSW Energy. The shares of the company opened at Rs. 69.90 slightly above its previous closing of Rs. 68.95.
Hindustan Unilever slumped 20 points or 2.17% at Rs. 901.30 after its quarterly result announcement. The company reported net profit of around Rs. 1,173 crore, a growth of 10% yoy. However in the early tradings, the stock opened at Rs. 904.90 which was lower from its previous closing of Rs. 920.45. The company's total turnover stood at Rs. 9.30 crore on BSE exchange.
Auto stocks continues to be in lead since two consecutive trading session. Where all other sectors are trading near 60 points range, Auto stocks soar by 130 points. Tata Motors is among the top pick, trading at Rs. 503 up by 2.10%, followed by Motherson & Sumi at Rs. 301.65 rising by 1.58%. Ashok Leyland, Cummins India, Bharat Forge and MRF were trading in the range of 0.60%-1.30%. However, auto-majors such Maruti Suzuki, Eicher Motors were trading below marginal level.