The weak Indian markets tracked Asian peers which in turn followed Wall Street lower as a route in China spurs caution and US mega cap technology earnings to receive a mixed response. Investors will follow the outcome of the Fed meeting which concludes today.
At around 1.12 pm, BSE Sensex was trading at 52,284.88 down 293.88 points or 0.56% and Nifty50 at 15,663.50 down 82.95 points or 0.53%.
Nifty FMCG was trading at 36,423.90 up 63.10 points or 0.17%, touching a high of 36,446.90 and low of 36,194.65 during intraday trade on Wednesday.
Varun Beverages outperformed at Rs752.35 per piece, up 1.3%. Dabur India also stretched the winning streak on Wednesday at RsRs595.95 per piece up 1.2%. Hindustan Lever also advanced 0.8% at Rs2,361.70 per piece to boost the sector.
UBL, Procter & Gamble Hygiene and Godrej Consumer also were trading higher between 0.7% to 0.4%. ITC also gained 0.25% at Rs209.20 per piece, continuing its outperformance post strong Q1 earnings earlier this week. UBL was also higher.
Tata Consumer sank over 1.5% at Rs758.00 per piece to drag. United Spirits was down 1.15% at Rs637.05 per piece. Britannia also underperformed 0.7% at Rs3,426.20 per piece. Emami and Jubilant FoodWorks were trading 0.6% and 0.5% respectively on the downside.
Nestle India was also under pressure ahead of Q1 earnings annoucement later in the day. It was trading 0.4% lower at Rs18,156.00 per piece. Marico and Colgate Palmolive were also trading lower. As the Nifty FMCG had 7 advances and 8 declines.