FX.co ★ Sensex, Nifty End Lower; FMCG Stocks Rally

Despite strong signals from international markets, Indian stocks ended lower on Tuesday. This decline occurred as investors awaited further information on the events relating to the conflict in Gaza. This situation arose after Hamas reportedly agreed to an Egyptian-Qatari proposal to end the seven-month conflict with Israel. Yet, the latter stated that the agreement did not satisfy its primary requirement.

While negotiations for a ceasefire persist, Israel continues to plan military operations in the southern city of Rafah. Bank hawkish remarks from several Federal Reserve authorities over the rate forecast also affected the markets.

The leading S&P BSE Sensex ended the session with a decline of 383.69 points, equivalent to 0.52 percent, at a total of 73,511.85 points, thereby forfeiting its earlier gains. The broader NSE index dropped by 140.20 points, or 0.62 percent, to 22,302.50. Among the most significant losers were Hindalco, IndusInd Bank, ONGC, Power Grid Corp and Bajaj Auto, which fell by 3-4 percent.

However, FMCG stocks saw a rally following reports that companies are targeting higher volume growth in financial year 2025 after the elections, due to a regular monsoon season. Industry media reports indicated early signs of a revival in rural demand following an extended slowdown. Companies like Hindustan Unilever, ITC, Britannia Industries and Nestle, saw their stocks rise.