Sensex slips from record; FMCG, banking weigh

Team Udayavani, Jul 7, 2017, 11:51 AM IST

Mumbai :  Market today moved lower from its all-time peak as participants were quick to take profit amid a lacklustre trend overseas.

Stocks of FMCG, capital goods, banking, IT and realty remained subdued. The 30-share index, which had closed at a record high of 31,369.34 yesterday, was down 56.84 points, or 0.18 per cent at 31,312.50.

The gauge had gained 159.55 points in the previous two sessions. The broader NSE Nifty too declined 21.55 points, or 0.22 per cent, at 9,653.

US jobs data coming in below par and concerns about a tighter monetary policy gave investors here some anxiety. Other Asian markets struggled to recover from the current stand-off between the US and North Korea over the latter’s missile launch.

Quarterly earnings numbers are due this month. Investors are also tracking monsoon progress ahead of their next move. The laggards were HDFC Ltd, ICICI Bank, ITC, Tata Motors, Bajaj Auto and Asian Paints, falling by up to 1.10 per cent.

Hong Kong’s Hang Seng was down 0.42 per cent while Japan’s Nikkei shed 0.14 per cent in their early deals. Shanghai Composite too lost 0.36 per cent.

The US Dow Jones Industrial Average ended 0.74 per cent lower yesterday.