FMCG, healthcare stocks defy markets with spirited fight back, gain up to 4%
Sensex and Nifty tanked nearly 4% to the day's low of 73,659.29 and 22,389.85 respectively on Tuesday, with early trends suggesting a fightback by the India alliance albeit a majority mark for the NDA alliance, certain sectors managed to hold themselves as others witnessed a free fall.
While Sensex slipped from Monday's closing of 76,468.78 by 2809 points on the intraday basis, the broader Nifty witnessed an 874 point fall to 23,263.90.
The sectors which defied the trends were FMCG and healthcare, with NIfty FMCG, Nifty Pharma and Nifty Healthcare gaining 0.23%, 0.40% and 0.60%, respectively around 10:40 am.
The Nifty FMCG was trading at 54,606.85, down by 46.75 points or 0.09% with 11 stocks trading in the green around this time while the rest 4 were in the red. The top gainers were Dabur India, Colgate Palmolive and Marico which were up by up to 4% while the losers in the pack were Balrampur Chini, Radico Khaitan, Varun Beverages and ITC which fell between 4% and 0.76%.
Meanwhile, Nifty Healthcare was marginally up with over 6 points lead and traded at 11,854.15. There were 8 advances and 12 declines in a 20-stock index. The gainers were Max Healthcare, Divi's Laboratories and Abbott India. They were up by 2%, 1% and 0.84%, respectively. The laggards were Glenmark Pharma, Granules India, Biocon and Alkem Laboratories which declined by up to 4.21%.
Nifty Pharma which fought against the trends in early trade also fell by 0.40% or 75 points to 18,789.40.
While attributing today's steep fall to the trends so
