At around 12.50 pm, Nifty FMCG was trading at 36,790.55 up by 268.70 points or 0.74%. The index has touched an intraday high and low of 36,888.15 and 36,575.80 respectively.
Tata Consumer was the top gainer soaring by 3.4%. The stock has hit a new 52-week high of Rs802.85 per piece earlier today.
PGHH and Varun Beverages were among the top three stocks surging by 2.3% and 2% respectively.
Heavyweights Dabur, ITC and Emami contributed to the winnings by climbing more than 1% each.
Jubilant Foodworks, Mcdowell-N, United Breweries and Nestle jumped between 0.6-1%.
HUL and Colgate soared marginally.
However, Britannia was the top underperformer plunging nearly 0.7%. Godrej Consumer dipped marginally.
Traders cheered equities as they welcomed India's CPI Inflation and IIP data that has improved signalling sooner-than-expected economic growth recovery amid the pandemic.
India's Consumer Price Index (CPI) or retail inflation cooled to a 3-month low of 5.59% in July 2021 due to a steep drop in food prices. The CPI was at 6.26% in June 2021 and 6.73% in July 2020. The Consumer Food Price Index (CFPI) stood at 3.96% in July 2021 compared to 5.15% of the previous month and 9.27% of July 2020.
Meanwhile, the Index of Industrial Production (IIP) or factory output further expanded to 13.6% in June 2021 due to the low base effect. The quick estimates of the index with base 2011-12 stands at 122.6 during the month. The factory output continued its rising momentum even in June 2021 compared to a surge of 28.6% in May 2021 and a whopping 134% increase in April this year.