Nifty FMCG index trades higher amid volatile markets; Colgate, Emami lead gains

Tata Consumer and Procter & Gamble Hygiene shed over 1% to emerge top laggards.

Jul 07, 2021 12:07 IST India Infoline News Service

Stock market report with bull and bear
The Nifty FMCG stocks rallied to gain over 175 points amid volatile trade witnessed on Wednesday.  However, despite a gap-down start, the index gained momentum to progress in the day. FMCG stocks are in focus ahead of June 2021 quarterly result. The sector is expected to witness a healthy Q1FY22 as demand continued to improve despite the shocks arising from the second wave of the pandemic.

At around 12.35 PM, the Nifty FMCG was trading at 36,413.65 up 175.15 points or 0.48%, after touching a high of 36,462.55 and low of 36,105.40 during intraday trade on Wednesday.

BSE Sensex was trading at 52,963.14 up 101.96 points or 0.19% and Nifty50 at 15,841.15 up 22.90 points or 0.14%.

Colgate Palmolive led the gains at Rs1,725.00 per piece up 2.5% while Emami surged nearly 2% at Rs560.95 per piece. Varun Beverages and Godrej Consumer continued the winning streak with teh former gainign 1.7% at Rs735.595 per piece and latter rose 1.5% at Rs978.50 per piece. 

Index heavyweights Nestle India (up 0.8%) and Hindustan Unilever (0.3%) after underperforming on Tuesday made significant gains to lift sectoral performance. United Spirits, Britannia, ITC, Marico, and Dabur.

Jubilant Foodworks and United Breweries traded flat amid up and down movements of the market. 

Tata Consumer dived for the second straight day to emerge the biggest laggard. It shed 1.04% at Rs754.65 per piece. Procter & Gamble Hygiene also dropped 1% at Rs13,444.05 per piece to drag the sector. 

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