Nifty FMCG spikes over 550 points to push bull markets; ITC stock nears 52-week high to lift performance

Godrej Consumer Products and Jubilant Foodworks were under pressure.

Sep 16, 2021 02:09 IST India Infoline News Service

The Nifty FMCG stocks pushed the bull markets to record levels on Thursday. ITC Limited spurred a 7% near a 52-week high of Rs239.20 per piece to lift the performance of the sector. Godrej Consumer Products and Jubilant Foodworks were under pressure. 

A broad-based buying was witnessed across the sectoral indices with FMCG and banking stocks outperforming. Sensex topped 58,900-level for the first time while Nifty 50 placed itself for 17,600-mark.

At around 2.00 pm, Sensex was trading at 59,044.35 up 321.15 points or 0.55% and Nifty50 at 17,593.20 up 73.75 points or 0.42%.

The Nifty FMCG was trading at 41,066.25 up 561.75 points or 1.39%, after touching a high of 41,402.30 and low of 40,453.70 during intraday trade on Thursday.

Shares of ITC Ltd. jumped as much as 9% after multiple large trades on Thursday. Each stock was trading at Rs231.05 per piece, up 7%. ITC hit a day's high of Rs233.65 per piece on Thursday. 

United Breweries gained 0.8%. Procter & Gamble Hygiene and Dabur India were also trading higher. HUL, Tata Consumer, Marico and Varun Beverages were marginally higher.

Godrej Consumer was 2% down at Rs1,103.95 per piece, dragging the sector most. Jubilant Foodworks shed 1.2% at Rs4,114.25 per piece. 
United Spirits, Emami, Nestle India, Britannia and Colgate Palmolive also traded in the red.

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