Sensex, Nifty Edge Lower; FMCG Shares Outperform

Eleven of 15 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Realty index's 1.4 per cent decline.

The Indian equity benchmarks were largely flat on Tuesday as buying interest in HDFC, Asian Paints, Hindustan Unilever, HDFC Bank, ITC and HCL Technologies was offset with selling pressure in Infosys, ICICI Bank, Axis Bank and State Bank of India. The Sensex fell as much as 122 points and Nifty 50 index was trading near its important psychological level of 17,400. As of 9:25 am, the Sensex was down 113 points at 58,209 and Nifty 50 index declined 21 points to 17,357. Meanwhile, global stocks inched higher on Tuesday to a record high for the eight straight session as investors wagered the US Federal Reserve is likely to delay the start of tapering its asset purchases after the soft US jobs data. Japanese shares extended their bull run on hopes the ruling Liberal Democratic Party will compile additional economic stimulus and easily win an upcoming general election after the country's unpopular Prime Minister Yoshihide Suga said he would quit.