Nifty FMCG stocks lift performance; Varun Beverages, Dabur, HUL among top gainers

Tata Consumer, Britannia and Nestle India however couldn’t escape the market bears and were the worst affected in the sector.

Jul 28, 2021 01:07 IST India Infoline News Service

Nifty FMCG shrugged off bearish sentiments on Wednesday to trade higher. Varun Beverages, Dabur India were the top gainers while heavyweights Hindustan Unilever Limited and ITC also lifted the performance. Tata Consumer, Britannia  and Nestle India however couldn’t escape the market bears and were the worst affected in the index.

The weak Indian markets tracked Asian peers which in turn followed Wall Street lower as a route in China spurs caution and US mega cap technology earnings to receive a mixed response. Investors will follow the outcome of the Fed meeting which concludes today.

At around 1.12 pm, BSE Sensex was trading at 52,284.88 down 293.88 points or 0.56% and Nifty50 at 15,663.50 down 82.95 points or 0.53%.

Nifty FMCG was trading at 36,423.90 up 63.10 points or 0.17%, touching a high of 36,446.90 and low of 36,194.65 during intraday trade on Wednesday.

Varun Beverages outperformed at Rs752.35 per piece, up 1.3%. Dabur India also stretched the winning streak on Wednesday at RsRs595.95 per piece up 1.2%. Hindustan Lever also advanced 0.8% at Rs2,361.70 per piece to boost the sector.

UBL, Procter & Gamble Hygiene and Godrej Consumer also were trading higher between 0.7% to 0.4%. ITC also gained 0.25% at Rs209.20 per piece, continuing its outperformance post strong Q1 earnings earlier this week. UBL was also higher.

Tata Consumer sank over 1.5% at Rs758.00 per piece to drag. United Spirits was down 1.15% at Rs637.05 per piece. Britannia also underperformed 0.7% at Rs3,426.20 per piece. Emami and Jubilant FoodWorks were  trading 0.6% and 0.5% respectively on the downside.

Nestle India was also under pressure ahead of Q1 earnings annoucement later in the day. It was trading 0.4% lower at Rs18,156.00 per piece. Marico and Colgate Palmolive were  also trading lower. As the Nifty FMCG had 7 advances and 8 declines. 

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