Nifty FMCG index down over 350 points; HUL, Colgate stocks slip

The FMCG index is among top sectoral loser on the NSE index.

May 07, 2020 11:05 IST India Infoline News Service

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The Nifty FMCG index dropped over 390 points or 1.5% at 26,239.55 levels. The index is among top sectoral loser on the NSE index. The index opened at 26,402.25 levels and hit a low at 25,984 in the morning trade.

Shares of Colgate tanked 3.5%, among top loser on the FMCG index, followed by Britannia, Dabur and Godrej Consumer slipped 3% each.

Marico, Nestle and HUL dropped 2% each, Emami, Jubilant Food, ITC and Tata Consumer also in the negative territory.

On the flip side, Godrej Industries, Procter & Gamble, United Spirits and UBL were in the positive zone.  

Share price of Hindustan Unilever (HUL) down over 2% after GlaxoSmithKline Pte and Horlicks sold 5.69% stake in the company via block deals.

As per media reports, 9cr shares of the company exchanged hands in six large trades on the NSE and the deal took place between Rs1,938 and Rs1,951/ share.

GSK sold the stake Wednesday and the expected settlement date for the transaction is May 11, the media reports said. 

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