NSE Nifty was down by 0.28 per cent or 65 points to 23,609, while the BSE Sensex was at 77,209 down by 0.35 per cent or 144 points at 3.30 pm.

Vinod Nair, Head of Research, Geojit Financial Services, said, “The domestic market witnessed minor profit booking amid concerns over the slow progress of the monsoon, resulting in underperformance in the FMCG sector.

The heatwave in Northern India is driving consumer durables stocks up. The global markets were subdued as weak guidance from Accenture led to profit booking in US tech stocks. Conversely, domestic IT stocks saw buying interest as market participants appeared to have factored in weaker earnings. Attention is now focused on the upcoming GST meeting, where the potential rationalization of GST rates in certain sectors is under discussion.”

Top gainers today on the NSE include Bharti Airtel (2.15%), LTIMindtree (1.95%), Hindalco (1.78%), Adani Ports (1.69%), Divi’s Lab (1.47%). Top losers today include Ultratech Cement (-1.67%), BPCL (-1.66%), Reliance Industries (-1.60%), L&T (-1.51%), Hindustan Unilever (-1.48%).