Stock market today: Amid news that FPI GQG Partners reduced its stake in the flagship Indian FMCG brand, ITC shares came under sell-off pressure during the Thursday session. ITC share price opened lower at ₹264 and touched an intraday low of ₹254.70 apiece on the NSE, losing around 4% against the previous close of ₹265.70.
According to stock market experts, ITC shares are under selling pressure due to the FPI sell-off during the pre-market session. They said that noted FPI, GQG Partners, has offloaded its stake in the company worth around ₹9,500 crore, which is dragging down the ITC share price today. However, they expected a trend reversal as there is nothing wrong with the company's fundamentals. They said the company is expected to report better Q2FY27 numbers, and advised ITC shareholders to hold the scrip, maintaining a stop-loss at ₹246.
Speaking on the major trigger for the ITC shares today, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “ITC share price is falling today due to the block deal executed in the pre-market session. In this session, noted FPI, GQG Partners have sold out their stake in the company, which is worth around ₹9,500 crore. This is the major trigger, which is dragging the ITC share price today.”
Expecting a rebound in ITC shares, Avinash Gorakshkar, Founder of Avinash Mentor Research, said, “Today's fall in ITC shares is sentimental. There is nothing wrong with the company's fundamentals. The market hopes for better Q2 results from ITC."
Gorakshkar said the market is expecting better ITC Q2 results, driven by higher margins and profitability from soft tobacco prices during the July to September 2026 quarter. He said that ITC is a portfolio stock and it is available at a discounted price. So, some investors are expected to engage in value buying of ITC shares.