Nifty FMCG stays steady amid major Q3 results; Tata Consumer, Hindustan Unilever lift performance

21 Jan 2022 , 12:00 PM

Nifty FMCG stocks resisted weak markets to trade in the green on Friday as investors cheered HUL earnings for Q3 of FY22. The sector trimmed early gains but remained in thEe green zone despite volatile markets.

Tata Consumer and Hindustan Unilever gave the sector a major boost amid the gloom. Varun Beverages, Marico, Dabur, Godrej Consumer, and United Breweries were under selling pressure.

Indices remained bearish on Friday with IT, Consumer Durables, Bank stocks under extreme selling pressure. The markets tracked weak global cues due to an overnight selloff in US stocks. Further, strong FII selling also weighed on market sentiments. The selling was broad-based, with all sectors barring FMCG and Auto in the red.

At around 12.00 noon, BSE Sensex was trading at 59,054.14 down 410.48 points or 0.69% and Nifty50 at 17,629.90 down 127.10 points or 0.72%.

Nifty FMCG was trading at 36,782.35 up 100.95 points or 0.28%, after touching a high of 36,993.95 and low of 36,502.95 during intraday trade.

Tata Consumer Products Ltd. gained 1.9% at Rs737.20 per piece. The stock has been bullish since yesterday after Morgan Stanley upgraded the maker of Tata Tea by two notches, citing a shift in its focus toward a domestic-oriented business.

Hindustan Unilever was 1% higher at Rs2,284.05 per piece. The stock was over 2% higher early on. The company’s net profit rose 19% in December quarter to Rs2,300cr from Rs1,938cr. Its revenue from sales during the quarter came in at Rs13,196cr, up 10.25%, as against Rs11,969cr in the corresponding period a year ago.

Britannia, ITC and Colgate Plamolive were also trading in the green.

VBL dragged 2.65% at Rs915.00 per piece while Marico was 1.46% lower at Rs480.65 per piece. Dabur and Godrej Consumer also shed 1.44% and 1.37% respectively.  United Breweries was also nearly 1% lower.