Nifty struggles below 9400 amid consolidation; FMCG, banks dive

Epic Update HDFC Bank
Benchmark indices continued to tread lower in noon, with the Nifty struggling below 9400 level due to consistent fall in private banking & financials and FMCG stocks.

The 30-share BSE Sensex was down 66.22 points at 30,184.76 and the 50-share NSE Nifty fell 32 points to 9,390.40.

The broader markets underperformed benchmarks, with the BSE Midcap and Smallcap indices falling half a percent each on weak breadth. About two shares declined for every share rising on the exchange.

Asian Paints remained top loser, down 3 percent followed by HDFC, ITC, Reliance Industries, ICICI Bank, Axis Bank and HDFC Bank.

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