Sensex slips over 250 points, Nifty dips below 25,700 as private banks, FMCG stocks drag
[hfe_template id='11223']
[ad_1]
Indian stocks began November on a softer note Monday, with the Sensex and Nifty retreating after a strong October rally, as weakness in private banks and fast-moving consumer goods stocks weighed on sentiment. Still, momentum from quarterly earnings and monthly auto sales data helped temper the decline. The S&P BSE Sensex dropped 258 points, or 0.31%, to open at 83,680.70, while the NSE Nifty 50 slipped 60.50 points, or 0.24%, to start at 25,661.60. On the 30-stock Sensex, shares of Maruti Suzuki, Bharat Electronics Ltd., Titan, Adani Ports and Axis Bank led the declines, slipping between 1% and 3%. The private bank index fell 0.3%, while FMCG stocks also edged 0.3% lower. Defying the broader weakness, the PSU Bank index advanced 1.7% for the day. Live Events In the broader market, small-caps climbed 0.6% and mid-caps added 0.2%.Shriram Finance jumped 4.6% after reporting a rise in quarterly profit, emerging as the top Nifty 50 gainer...