Nifty FMCG stocks decline over 240 points; Godrej Consumer, HUL drag while Jubilant Foodworks advances

Britannia, Dabur, and Tata Consumer were also under pressure.

Sep 29, 2021 01:09 IST India Infoline News Service

Bear Market
The Nifty FMCG stocks declined to go with bearish markets on Wednesday. The Index shed points, after resisting the weak markets on Tuesday. Jubilant Foodworks advanced 2% while United Breweries, Varun Beverages, and Emami also surged 1%.

Godrej Consumer
tanked 3% while heavyweights Hindustan Unilever, Britannia, Dabur, and Tata Consumer were also under pressure.

Indices were lower for the second straight day with IT, financials cracking amid weak global cues. At around 1.10 pm, Sensex was trading at 59,275.27 down 392.33 points or 0.66% and Nifty50 at 17,663.30 down 85.30 points or 0.48%.

Nifty FMCG was trading at 40,442.90 down 240.05 points or 0.59%, touching a high of 40,830.70 and low of 40,418.40 during intraday trade on Wednesday.

Jubilant Foodworks surged 2.4% at Rs4,097.50 per piece resisting weak markets to push the sector. United Breweries gained over 1% at Rs1,580.75 per piece while Emami stock was also bullish. Marico and Colgate Plamolive also traded in the green.

Godrej Consumer Products shares tanked over 3% at Rs1,020.90 per piece a day after its shares gained on expectations of rebound in its business in Indonesia, Heavyweight HUL also shed 1.25% at Rs2,689.65 per piece to weigh down. Tata Consumer was over 0.9% down while Britannia lost 0.85% in the trade on Wednesday. Dabud also was 0.7% lower. 

Out of toal 15 listed stocks on the NSE, FMCG Index had 5 advances and 10 declines on Wednesday. 

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