Live: FMCG, banking stocks take NSE below 8,500 level

FMCG stocks faced heavy selling pressure on NSE exchange. The index slumped nearly 211 points or 0.96% at 21,762.40. Major FMCG player were on hotbed with Hindustan Unilever taking the top loser spot after reporting its Q1FY17 performance. HUL dipped by 3.03% at Rs. 894. Other noticable losers were, Dabur India at Rs. 306.90 down by 2.18%, followed by Britannia Industries at Rs. 2,767.45 (1.73%) and Godrej Consumer product at Rs. 1,561.40 (1.49%). Emami, Jubilant Foodworks and Marico were trading in the range of 0.70% - 1.20%. However, ITC was trading flat at Rs. 248.70.

Ultratech cement jumped 16 points or 0.47% at Rs. 3,516 after reporting positive quarterly results. The company's net profit rose by 29% to Rs. 780.1 crore.

European markets are trading lower on Tuesday trading session. The DAX was among biggest loser down by 118.95 points or 1.18% at 9,944, while CAC 40 was at 4,319.47 lower by 0.88% and FTSE 100 was below 0.38% at 6,670.19. 

Indian markets are in tight range, FMCG banking stocks skid

ICICI Bank is trading at Rs. 267.05 up by 1.31% as its plans to bring its subsidiary ICICI Prudential Life for initial public offering (IPO). 

National Aluminium Company stocks will be in focus as it has signed a pact with the Union Ministry of Mines to meet revenue target Rs 7,100 crore revenue from operations. The company's share price stood at Rs. 47.45 up by 1.82% on BSE. 

Oil prices fell ahead of tomorrow's DOE crude oil inventories data while U.S. dollar index is flat. U.S. housing starts (June) will be released today. On the earnings front, big tech firms like Microsoft, IBM, Intel will be in spotlight.

Jaiprakash Power and Ventures ltd soared 7.74% at Rs. 6.54 on BSE exchange after it posted a standalone net loss of Rs 196.16 crore for June quarter ended (Q1FY17) versus net profit of Rs 66.96 crore in the corresponding quarter of the previous year. 

Jindal Steel and Power ltd was trading above 0.94% at Rs. 69.60 as its shareholders have approved sale of 1,000 MW power plant in Chhattisgarh to brother Sajjan Jindal’s firm, JSW Energy. The shares of the company opened at Rs. 69.90 slightly above its previous closing of Rs. 68.95. 

Adani Power was trading up by 1.24% at Rs. 28.65. The company has raised Rs 1,000 crore on Monday by allotment of 10,000 Rated, Listed, Secured, Taxable, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis. 

Ultratech Cemet soared over 50 points or 1.43% at Rs. 3,549.70 from its previous closing of Rs. 3,499.60 on the back of its quarterly result announcement today. 

Wipro is trading below 3 points or 0.46% at Rs. 549.45 ahead of its quarterly results. 

Hindustan Unilever slumped 20 points or 2.17% at Rs. 901.30 after its quarterly result announcement. The company reported net profit of around Rs. 1,173 crore, a growth of 10% yoy. However in the early tradings, the stock opened at Rs. 904.90 which was lower from its previous closing of Rs. 920.45. The company's total turnover stood at Rs. 9.30 crore on BSE exchange. 

Auto stocks continues to be in lead since two consecutive trading session. Where all other sectors are trading near 60 points range, Auto stocks soar by 130 points. Tata Motors is among the top pick, trading at Rs. 503 up by 2.10%, followed by Motherson & Sumi at Rs. 301.65 rising by 1.58%. Ashok Leyland, Cummins India, Bharat Forge and MRF were trading in the range of 0.60%-1.30%. However, auto-majors such Maruti Suzuki, Eicher Motors were trading below marginal level. 

Domestic equity markets are moving slow on early trading session. BSE was trading below 14 points or 0.05% at 27,733.03. While NSE was above 8 points or 0.09% at 8,516.35.