Market Update: Nifty FMCG outperforms as ITC jumps 3%; UltraTech, Yes Bank up 4%

The Indian benchmark indices�have�slipped into the red�this Thursday afternoon�with the Nifty�shedding�23�points and is trading at 10,746 mark.�The Sensex is trading�lower�by�81�points at 35,564.

Nifty FMCG�is up over 1 percent led by ITC which jumped 3 percent while Emami, Marico and Hindustan Unilever are�the other gainers.

The metal and the IT index are the biggest drag to the market weakness. The top IT losers include�names�like Infosys which is down over 5 percent followed by KPIT Tech, Tech�Mahindra and�KPIT Technologies.

The top metal losers include names like NALCO, Hindustan Zinc, Jindal Steel and Power, SAIL, Tata Steel, Vedanta and Hindalco Industries.

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After the 41st AGM, Reliance Industries has slipped into the red, trading lower by over 1.5 percent which has also dragged the Nifty energy index down. The other stock which�have lost some ground include�GAIL India.

Following the launch of JioGigaFiber and registering a customer base of 215 million, other telecom stocks have come under pressure. Bharti Airtel and Idea Cellular�are�down 1 percent each. DEN Networks is down 8 percent while Hathway Cable�has�fallen�close to�15 percent.

Nifty�realty�is down 1 percent with loses from DLF, Godrej Properties, HDIL, Phoenix Mills, Oberoi Realty, Prestige Estates and Sobha.

The top gainers among Nifty constituents were Yes Bank,�UltraTech Cement, ITC, HPCL and�Asian Paints�which gained�up to 4�percent.

The most actively traded stocks on the NSE are Reliance Industries, Infosys, Shriram Transport, Maruti Suzuki and�Yes Bank.

The top NSE losers included�Infosys, Titan Company, Vedanta, Tata Motors and�Reliance Industries.

Some of the top gainers on BSE are IL&FS Transport which jumped close to 10 percent followed by Future Lifestyle, GATI,�Firstsource Solutions and�Yes Bank.

The top losers included Hathway which tanked�14�percent while DEN Networks is trading lower by 8 percent. HCC,�Infosys�and Vakrangee are the other losers.

Britannia Industries, Graphite India, Hindustan Unilever�and HEG�are�some�of the very�few stocks that hit fresh 52-week high in the�afternoon�trade.

On the other hand,�156�stocks have hit new 52-week low including BHEL, DEN Networks, Dena Bank, Grasim Industries, Hathway Cable, Finolex Industries, Kwality, Max Financial, Punj Lloyd and Tata Motors among others.

The breadth of the market favoured�declines, with�742�stocks advancing, 954�declining and�369�remaining unchanged. On BSE,�1055�stocks advanced,�1428�declined and�139�remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. First Published on Jul 5, 2018 02:19 pm