Sensex, Nifty Edge Lower As FMCG Stocks Drag
(RTTNews) - Indian shares edged lower in cautious trade on Monday as weak inflation data from China suggested Beijing's recent efforts to shore up faltering economic demand are having only limited impact.
The benchmark S&P/BSE Sensex was down 145 points, or 0.2 percent, at 81,52 in early trade while the broader NSE Nifty index was down 56 points, or 0.2 percent, at 24,621.
Among the prominent decliners, Trent, Nestle India, Britannia Industries, Hindustan Unilever and Tata Consumer Products fell 2-4 percent.
Godrej Consumer Products plunged more than 9 percent after it warned of a challenging demand environment and external pressures affecting its key business segments.
Tata Power rose about 1 percent after reports it will incur a capex of Rs 1.25 lakh crore between 2026 and 2030.
Welspun Corp rallied 2.1 percent on securing two large orders-one each for the supply of HSAW-coated pipes and HSAW-coated pipes for Natural Gas Pipeline Projects in the U.S.
Delta Corp advanced 1.3 percent as it announced a revised plan for demerging its hospitality and real estate businesses.
Easy Trip Planners jumped nearly 2 percent after confirming new core strategic acquisitions.
Paytm gained 1 percent on news the company is selling its stake in Japan's PayPay Corporation to SoftBank in a Rs 2,364 crore deal.
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