Sensex, Nifty volatile; MPC rate decision eyed; Marico falls 5%

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Equity benchmarks remained flat in afternoon, with the Sensex gyrating around 32,500 level ahead of rate decision from Monetary Policy Committee due Wednesday.

The 30-share BSE Sensex was down 26.01 points at 32,488.93 and the 50-share NSE Nifty gained 6.05 points at 10,083.15.

The market breadth remained weak as about three shares declined for every two shares rising on the BSE.

Marico’s results were a miss on all estimates after it posted a 12 percent fall in its June quarter net profit at Rs 236 crore against Rs 268 crore posted during the same period last year.

The FMCG major also saw an almost 4 percent fall in its consolidated revenue for the quarter under review at Rs 1,692.4 crore against Rs 1,754.3 crore posted during the June quarter in 2016. The revenue dip could have been dragged by de-growth of 9 percent in its volumes.

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Epic Research
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