The key equity indices were currently trading near the day's low in mid afternoon trade. The Nifty was trading below the 18,150 mark. FMCG shares declined for the fourth consecutive day.
At 14:22 IST, the barometer index, the S&P BSE Sensex, dropped 119.42 points or 0.20% to 60,804.08. The Nifty 50 index lost 59.10 points or 0.33% to 18,119.
Sentiment took a hit after the media reported that China has started shutting down schools, cancelling hundreds of flights and ramping up mass testings following a new outbreak of Covid-19.
The broader market tumbled. The S&P BSE Mid-Cap index slipped 1.47%. The S&P BSE Small-Cap index shed 1.66%.
Sellers outnumbered buyers. On the BSE, 1151 shares rose and 2099 shares fell. A total of 157 shares were unchanged.
Buzzing Index:
The Nifty FMCG index 1.62% to 38,717.05, extending losses for fourth day. The index has lost 6.85% in four sessions.
ITC (down 3.60%), Godrej Consumer (down 2.24%), Colgate-Palmolive India (down 2.10%), Tata Consumer Products (down 1.80%) and United Breweries (down 1.50%) edged lower.
Further, Procter & Gamble Hygiene (down 1.43%), Nestle India (down 1.30%), Britannia Industries (down 1.10%), United Spirits (down 0.66%), Marico (down 0.48%) and Hindustan Unilever (down 0.34%) declined.
Meanwhile, Radico Khaitan (up 0.88%) and Emami (up 0.76%) bucked the trend.
Numbers to Track:
MCX Gold futures for 3 December 2021 settlement rose 0.28% to Rs 47537.
The yield on India's 10-year benchmark federal paper was currently at 6.347% as compared with its previous closing of 6.338%.
In the commodities market, Brent crude for December 2021 settlement added 15 cents or 0.18% to $84.76 a barrel.
In the foreign exchange market, the partially convertible rupee rose to 74.7500 from its previous closing of 74.8725.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.16% to 93.62.
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