{"id":43592,"date":"2024-02-08T10:32:42","date_gmt":"2024-02-08T10:32:42","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/02\/08\/sensex-nifty-tumble-as-fmcg-and-private-banks-drag\/"},"modified":"2024-02-08T10:32:42","modified_gmt":"2024-02-08T10:32:42","slug":"sensex-nifty-tumble-as-fmcg-and-private-banks-drag","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/02\/08\/sensex-nifty-tumble-as-fmcg-and-private-banks-drag\/","title":{"rendered":"Sensex, Nifty Tumble As FMCG And Private Banks Drag"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Indian shares fell sharply on Thursday, with FMCG stocks leading losses. <\/p>\n<p>Rate-sensitive stocks also underperformed after the Reserve Bank of kept its key interest rate unchanged for a sixth consecutive meeting, as widely expected. <\/p>\n<p>The central bank projected headline consumer price inflation to be 5.4 percent in the current fiscal year and 4.5 percent for 2024-25.<\/p>\n<p>The Indian <span class=\"landLinks\">economy<\/span> is set projected to expand 7.3 percent in 2023-24 and 7.0 percent in 2024-25.<\/p>\n<p>The benchmark S&amp;P BSE Sensex fell 723.57 points, or 1.0 percent to 71,428.43 while the broader NSE Nifty index dropped 212.55 points, or 0.97 percent, to 21,717.95.<\/p>\n<p>Among the prominent decliners, Eicher Motor, Nestle India, Axis Bank, Britannia Industries and Kotak Mahindra Bank lost-2-3 percent. <\/p>\n<p>ITC declined 2.6 percent after British American Tobacco announced that it plans to sell some of its stake in India&#8217;s cigarette-to-hotels conglomerate.<\/p>\n<p>Tata Consumer Products fell 2.2 percent after Q3 profit missed estimates. <\/p>\n<p>Among the top gainers, SBI rallied 3.6 percent amid reports that it is looking to sell Rs 5000-7000 crore worth of YES Bank shares via a block deal.<\/p>\n<p>Hindalco, Coal India, Power Grid Corp and BPCL climbed 2-3 percent. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Sensex, Nifty Tumble As FMCG And Private Banks Drag<\/a><br \/>\n<br \/>2024-02-08 10:32:42<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian shares fell sharply on Thursday, with FMCG stocks leading losses. Rate-sensitive stocks also underperformed after the Reserve Bank of kept its key interest rate unchanged for a sixth consecutive&#8230;<\/p>\n","protected":false},"author":2,"featured_media":43593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":{"0":"post-43592","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asian-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/43592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=43592"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/43592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/43593"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=43592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=43592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=43592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}