Nifty FMCG index declines 0.8% as investors book profits

The Nifty FMCG index faced selling pressure, declining 0.80% to trade near 47,476 levels. Investors booked profits in consumer staple counters due to margin compression worries stemming from high raw material costs. Technical analysts trace immediate support for the consumption index at 47,400, while overhead resistance sits firmly around 47,900.