Markets weighed down by FMCG, IT stocks; ICICI Bank hits record high

Benchmark market indices Sensex and Nifty were dragged lower due to weak performance by FMCG and IT stocks.

Indian shares inched lower on Monday, dragged by consumer and information technology stocks, while banks scaled a record high after strong quarterly earnings from private lender ICICI Bank.

The blue-chip NSE Nifty 50 index was down 0.2% at 18,088 by 9:25 am, while the benchmark S&P BSE Sensex fell 0.1% to 60,775.46.