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Nifty Fmcg Declines Concerns Over New Covid Variant;  Itc, Hul, Radico Khaitan dip

 | Breaking News Updates

Nifty Fmcg Declines Concerns Over New Covid Variant; Itc, Hul, Radico Khaitan dip

| Breaking News Updates | Local News


FMCG stocks traded under pressure on Friday with sector gauge Nifty FMCG down 0.65% at the start of trading. Only 3 of the 15 stocks listed on the gauge traded positively, led by Dabur. Among the laggards, UBL, McDowell, Radico, Tata Consumer, ITC, Marico fell by up to 3%.

At 9:54 am, Nifty FMCG was at 38,011.50, down 0.65%, after opening at 38,050.55. It hit the day’s high at 38,097.20 and the low at 37,874.35.

ITC shares fell more than 1.6%, trading at Rs 227.55 at 10:11 am. Hindustan Unilever was flat, down 0.10%, listed at Rs 2,346.80.

Among alcohol stocks, Radico Khaitan was down 2.08% with stocks trading at Rs 1,087.05, while UBL stocks were down 3.26%, beating laggards, to 1,515 , 45 Rs.

Indian stocks started trading sharply lower on Friday with sales across all sectors as concerns over a new, mutant variant of COVID-19 dampened investor sentiment in Asia and global markets.

The Center has called on all states and union territories to conduct rigorous screening and testing of all international travelers from South Africa, Hong Kong and Botswana where several cases of a variant COVID-19 B.1.1529 have been reported.

The 30-stock index plunged 880.9 points or 1.5% to 57,914.2 in early trades after opening down. The benchmark Nifty50 slipped to 17,272, down 264.3 points or 1.5% from its previous close.

At 10:15 am, the 30-stock BSE Sensex was trading 980 points at 57,815. The larger Nifty50 lost 291 points to trade at 17,245.

With the exception of pharmaceutical series, all sectors were in the red during the first transactions. Larger markets also weakened, with mid-cap and small-cap indices falling 0.9% and 0.4% respectively.

(Edited by : Ajay Vaishnav)

First publication: STI

Nifty Fmcg Declines Concerns Over New Covid Variant; Itc, Hul, Radico Khaitan dip

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