Nifty 50, Sensex close little changed as FMCG, auto stocks offset financial gains

The benchmark Nifty 50 and Sensex ended on a flat note on Wednesday as consumer and auto stocks strongly offset gains in financial stocks.

The Nifty declined 36 points to end at 24,399. The Sensex fell 17 points to close at 80,065.

FMCG stocks edged lower as urban demand slowed, with the index down nearly 3%. Losses were mostly offset by financials, which rose 0.4%. The Nifty Bank index outperformed, gaining 292 points to 51,531, boosted by strong contributions from HDFC Bank.

Hindalco shares fell as much as 7% after Constellium reported weak earnings, weighing on market sentiment.

Hindustan Unilever (HUL) emerged as the top loser on the Nifty, falling 6% following weaker-than-expected Q2 results.

SBI Life also faced pressure, closing 5% lower after the company revised its growth outlook for FY25.

Colgate-Palmolive Ltd. reported high-single-digit toothpaste volume growth, compared to a CNBC-TV18 survey estimate of 7% to 8% growth. However, shares fell 3% after management said it expects “difficult market conditions” to continue.

Cement stocks saw an increase in buying activity, driven by a positive outlook for the second half of the financial year, with UltraTech and Dalmia among the early gainers.

Adani Group’s cement firm ACC rose 0.2 percent after reporting mixed second-quarter results, with profit falling short of the CNBC-TV18 survey estimate but revenue growing with strength

Adani Wilmar reported a profit compared to a loss in the same quarter last year, leading to a 6% rise in its share price.

Syngene reversed yesterday’s losses, rising 5% after posting steady growth in the second quarter and making key management transitions.

The board of directors of Sona BLW Precision Forgings Ltd. (Sona Comstar) has approved the acquisition of Escorts Kubota’s rail equipment business, confirming a report from CNBC-TV18. Shares rose 13% after the announcement.