<p>Mumbai: Benchmark indices Sensex and Nifty pared initial gains and settled lower on Saturday due to selling in FMCG and IT shares.</p>.<p>The 30-share BSE Sensex fell by 259.58 points or 0.36 per cent to settle at 71,423.65 as 24 of its components declined and six advanced.</p>.<p>The Nifty declined 50.60 points or 0.23 per cent to 21,571.80.</p>.<p>Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers.</p>.<p>HUL, TCS, M&M, IndusInd Bank, HCL Tech were among the losers.</p>.<p>"Amid rising optimism about AI, US markets surged over the weekend. However, domestic markets exhibited a subdued trend influenced by extended holidays, low volumes, and weekly option expiration," Vinod Nair, Head of Research, Geojit Financial Services said.</p>.<p>Profit booking was noted in IT and FMCG, while private banks witnessed selective buying post the recent sharp correction and stable Q3 earnings, Nair added.</p>.<p>Among sectors, FMCG and IT stocks suffered the most, while banks and financial services gained.</p>.<p>Shares of HUL and Reliance Industries were under pressure after their December quarter results.</p>.<p>Reliance Industries shares settled 0.80 per cent down at Rs 2713.20 on BSE post its third quarter earnings announcement on Friday.</p>.<p>The company posted a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals.</p>.<p>The stock of HUL was closed 3.72 per cent down at Rs 2469.30 apiece.</p>.<p>Hindustan Unilever Ltd on Friday reported an 1.08 per cent increase in consolidated net profit at Rs 2,508 crore in the third quarter ended December 2023.</p>.<p>On Friday, the 30-share BSE Sensex jumped 496.37 points or 0.70 per cent to settle at 71,683.23 points. The Nifty climbed 160.15 points or 0.75 per cent to close at 21,622.40 points.</p>.<p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,689.68 crore on Friday, according to exchange data.</p>.<p>NSE and BSE on Friday announced holding normal trading sessions on Saturday as stock markets are closed on January 22 amid a half-day holiday declared by banks. Money markets and forex trading will also be closed on Monday.</p>
<p>Mumbai: Benchmark indices Sensex and Nifty pared initial gains and settled lower on Saturday due to selling in FMCG and IT shares.</p>.<p>The 30-share BSE Sensex fell by 259.58 points or 0.36 per cent to settle at 71,423.65 as 24 of its components declined and six advanced.</p>.<p>The Nifty declined 50.60 points or 0.23 per cent to 21,571.80.</p>.<p>Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers.</p>.<p>HUL, TCS, M&M, IndusInd Bank, HCL Tech were among the losers.</p>.<p>"Amid rising optimism about AI, US markets surged over the weekend. However, domestic markets exhibited a subdued trend influenced by extended holidays, low volumes, and weekly option expiration," Vinod Nair, Head of Research, Geojit Financial Services said.</p>.<p>Profit booking was noted in IT and FMCG, while private banks witnessed selective buying post the recent sharp correction and stable Q3 earnings, Nair added.</p>.<p>Among sectors, FMCG and IT stocks suffered the most, while banks and financial services gained.</p>.<p>Shares of HUL and Reliance Industries were under pressure after their December quarter results.</p>.<p>Reliance Industries shares settled 0.80 per cent down at Rs 2713.20 on BSE post its third quarter earnings announcement on Friday.</p>.<p>The company posted a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals.</p>.<p>The stock of HUL was closed 3.72 per cent down at Rs 2469.30 apiece.</p>.<p>Hindustan Unilever Ltd on Friday reported an 1.08 per cent increase in consolidated net profit at Rs 2,508 crore in the third quarter ended December 2023.</p>.<p>On Friday, the 30-share BSE Sensex jumped 496.37 points or 0.70 per cent to settle at 71,683.23 points. The Nifty climbed 160.15 points or 0.75 per cent to close at 21,622.40 points.</p>.<p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,689.68 crore on Friday, according to exchange data.</p>.<p>NSE and BSE on Friday announced holding normal trading sessions on Saturday as stock markets are closed on January 22 amid a half-day holiday declared by banks. Money markets and forex trading will also be closed on Monday.</p>