Nifty FMCG continues winning streak; Breweries stocks lift the spirits

United Spirits and United Breweries lead the gains while Jubilant Foodworks like United Spirits hits a fresh 52-week high on Wednesday.

Aug 18, 2021 01:08 IST India Infoline News Service

Nifty FMCG remained in the fast lane on Wednesday. The Index was among the top gainers in the morning but trimmed some gains amid volatile trade in the afternoon. The FMCG index has been bullish when both CPI and WPI inflation eased. The food prices have recorded a steep fall in July 2021 as well.

Shares of breweries companies were in focus on Wednesday with United Spirits and United Breweries (UBL) surging over 5% on the NSE due to speedy recovery in volumes amid lockdowns restrictions. United Spirits hit a fresh 52-week high. Jubilant Foodworks also hit a new high on Wednesday. Colgate Palmolive was under pressure.

BSE Sensex and Nifty 50 scaled fresh all-time highs on Wednesday. Sensex started trading above 56,000 for the first time ever, while NSE Nifty 50 wclosed on 16,700. However, the indices fell in the afternoon.

At around 1.15 pm, BSE Sensex was trading at 55,729.91 down 62.36 points or 0.11% and Nifty50 at 16,587.50 down 27.10 points or 0.16%. 

The Nifty FMCG was trading at 37,700.35 up 221.80 points or 0.59%, after touching a high of 37,878.85 and low of 37,538.90 during intraday trade.

United spirits hit fresh 52-week high of Rs719 per piece during intraday trade on Wednesday. Each stock was trading at Rs708.35 per piece, up 7.3% on the NSE. UBL surged 5.7% at Rs1,487.00 per piece. Jubilant Foodworks also scaled new 52-week high of Rs 4164 per piece on the NSE. Each stock was trading at Rs4,071.15 per piece, up 4.7%. Emami also gained over 1% while Tata Consumer was nearly 1% higher.

Colgate Palmolive shed nearly 1% at Rs1,669.75 per piece to emerge the biggest laggard in the sector. Heavyweights HUL and ITC were trading flat. 

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