Indian equity markets opened lower on July 31, as widespread selling pressure gripped most sectors except FMCG. At around 11:00 AM, the Sensex had dropped over 340 points, while the Nifty hovered near 24,750, reflecting subdued investor sentiment across the board.
Sectoral Snapshot: FMCG Bucks the Trend
According to data from Moneycontrol and BSE/NSE feeds, most sectoral indices were trading in the red, including:
Auto, IT, Metal, Consumer Durables, Capital Goods, Telecom, and Oil & Gas — down between 0.5% and 2%
BSE Midcap and Smallcap indices — also declined by nearly 1% each, indicating broader market weakness
However, FMCG emerged as the only bright spot, with select stocks showing resilience amid the broader downtrend.
Also Read: M&M Q1 Results: Net Profit Rises 32% to ₹3,450 Crore, Beats Street Estimates
Major Nifty Losers and Gainers
Among Nifty 50 constituents, the top losers were:
Dr Reddy’s Laboratories
Adani Enterprises
Reliance Industries
Bharti Airtel
Hindalco Industries
Meanwhile, top gainers included:
Jio Financial Services
Hindustan Unilever (HUL)
Eternal
Power Grid Corporation
JSW Steel
The contrast between sectors reflects investor rotation and profit booking in heavyweight stocks while selectively favoring defensives like FMCG.
Market Mood: Global Cues, Earnings in Focus
Market sentiment appears cautious as traders eye global macroeconomic signals, ongoing earnings season, and potential commentary from central banks. Concerns around rising valuations and global growth uncertainty may also be impacting investor appetite.
Neutral Analysis
The current market movement indicates short-term consolidation, with profit booking in high-growth sectors and selective buying in defensive segments like FMCG. While the broader indices show weakness, stock-specific action continues, especially amid the earnings season.
Investors are likely adopting a wait-and-watch approach as key results, global developments, and macro indicators unfold over the week.
