Nifty FMCG declines over 335 points; Dabur, Varun Beverages, Emami, Jubilant Foodworks drag

Procter & Gamble Hygiene was the only stock trading above 1% while UBL was marginally higher.

Aug 24, 2021 01:08 IST India Infoline News Service

Bear Market
The Nifty FMCG stocks fell 335 points amid overall positive sentiments in the market. The sector was among the lead gainers last week and has been on a winning streak in recent times along with other consumer-led sectors with the Retail sector at the top of gainers.

However, the FMCG Index was under negative bias on Tuesday with Dabur India and Varun Beverages emerging the top losers and Jubilant Foodworks and Emami also under selling pressure. Procter & Gamble Hygiene was the only stock trading above 1% while UBL was marginally higher, in a sector that had 13 declines and 2 advances out of the total 15 stocks.

Sensex and the Nifty 50 are extended morning gains on Tuesday led by surge in metals and IT stocks tracking positive global cues. Broader markets supported the upmove as the smallcap and midcap indices are trading higher.

At around 1.15 PM, BSE Sensex was trading at 55,783.88 up 228.09 points or 0.41% and Nifty50 at 16,561.60 up 65.15 points or 0.39%. Nifty FMCG was trading at 38,154.90 down 334.60 points or 0.87%, touching a high of 38,675.05 and low of 38,141.80 during intraday trade on Tuesday.

Dabur India shed 3% at Rs591.60 per piece to emerge the biggest lower while Varun Beverages also declined 2.84% at Rs809.85 per piece. 
Emami was 2.63% down at Rs587.40 per piece. Jubilant Foodworks dropped 2.4% at Rs3,700.00 per piece. Godrej Consumer also shed 1.9%. 

United Spirits, Marico, Nestle India and Britannia also were lower between 1% to 1.5%. Colgate Palmolive, ITC and Hindustan Unilever also traded in the red while Tata Consumer was just marginally lower. 

Procter & Gamble Hygiene bucked the trend to gaine 1.3% at Rs12,922.50 per piece while UBL was also 0.15% higher. 

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