Nifty FMCG drops 1% led by ITC, UBL, Tata Global

However, the index’s fall was cushioned by a buying seen in Dabur, which gained 2%.

May 23, 2019 08:05 IST India Infoline News Service

FMCG
The Nifty FMCG index slipped 1% on Thursday amid heavy selling pressure seen in ITC, UBL, Tata Global, United Spirit, and Marico.

Shares of ITC and UBL, which declined 3% each, were leading the index’s fall. Shares of Tata Global also contributed to the fall, declining 2% followed by United Spirit, Marico, and Procter & Gamble Hygiene and Health Care, which declined 1% each.

However, the index’s fall was cushioned by a buying seen in Dabur, which gained 2% followed by Jubilant Foodworks and Godrej Industries, which gained 1% each.

Meanwhile, equity benchmark indices were trading in the green, with the Sensex gaining 144 points at 39,254 levels. However, the Nifty rose 52 points at 11,790 levels.

Benchmark indices have spurted to a record high level with the Sensex and Nifty crossing 40,000 levels and 12,000 levels, respectively after counting showed that BJP and its partners are leading over opponents.

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