Nifty FMCG gains 270 pts amid broad-based buying; Tata Consumer hits new high; ITC, Dabur, Emami, Nestle add to winnings

Nifty FMCG emerged as among the top gainer on NSE led by broad-based buying.

Aug 13, 2021 01:08 IST India Infoline News Service

Business growth, bull
FMCG stocks were in the fast lane on Friday as markets reacted to the CPI Inflation and IIP data. Nifty FMCG emerged as among the top gainer on NSE led by broad-based buying. On the index, 13 scrips advanced, while 2 scrips declined.

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.

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