Nifty 50 Ends Below 24,800 As ITC Drags FMCG Lower, LIC Shares See Record Volumes

Indian equity benchmarks consolidated in a narrow range on Wednesday, with the Nifty 50 ending below 24,800. 

The Sensex ended 239 points lower to close at 81,312, while the Nifty 50 fell 73 points to finish at 24,752.

Among the top Nifty gainers were HDFC Life, BEL, and Bajaj Finance, which rose between 1% and 2%. Nifty losers included IndusInd Bank, Apollo Hospitals, Ultratech Cement, Hindalco, and Nestle India, which ended 2% lower.

The broader market fared slightly better, the Nifty Midcap index ended flat, and the Smallcap index gained 0.3%. 

On the sectoral front, FMCG was the biggest loser, led by ITC, which ended 3% lower after its biggest shareholder, British American Tobacco, offloaded a 2.57% stake through a block deal valued at $1.5 billion. 

On the other hand, the Nifty Bank ended in the green, with significant buying in PSU bank counters.

LIC surged 8%, and saw the highest-ever traded volumes since its listing, after March quarter profits rose 38%. The insurer expects double-digit growth in FY26.

In the mid-cap space, strong earnings boosted stocks like Techno Electric (+13%), ITI (+10%), and Triveni Engineering (+6%). 

However, Bharat Dynamics and NMDC fell around 2% due to weaker-than-expected fourth-quarter (Q4) results.

Belrise Industries made a solid debut on Dalal Street, with the stock ending 8% higher on its listing day.  

Meanwhile, retail investor sentiment surrounding the Nifty 50 remained ‘bullish’.

Globally, European markets traded lower, and Dow Futures pointed to a subdued opening for Wall Street.

For updates and corrections, email newsroom[at]stocktwits[dot]com. 

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