Nifty FMCG stocks edge higher amid volatile markets; Marico, Procter -; Gamble, Godrej Consumer lead gains

31 Mar 2022 , 11:50 AM

Nifty FMCG stocks edged higher on Thursday tracking mixed global cues. Marico, Procter & Gamble and Godrej Consumer led the gains while Dabur, Britannia, Tata Consumer and Hindustan Unilever also helped the index go up through substantial gains.

The Indian equity benchmarks traded marginally higher on Thursday amid a sharp drop in crude oil rates. Asian stocks eased tracking an overnight Wall Street stumble.In the last three sessions on positive peace talks between the Russians and the Ukrainians. However, the Thursday session could see some volatility as the optimism about the peace talks fizzle out after reports of Kremlin bombing the outskirts of Kyiv, soon after promising to de-escalate. Investors are also worried about the hawkish stance of the US Fed, which could curb the economic growth.

At around 11.50 AM, BSE Sensex was trading at 58,616.31 down 67.68 points or 0.12% and Nifty 50 at 17,479.55 down 18.70 points or 0.11%.

Nifty FMCG was trading at 36,083.55 up 225.30 points or 0.63%, touching a high of 36,231.60 and low of 35,939.40 during intraday trade on Thursday.

Marico rose 2.1% at Rs500.25 per piece while Procter & Gamble Health & Hygiene was 1.9% higher at Rs14,275.10 per piece. Godrej Consumer edged 1.8% higher at Rs741.10 per piece. Dabur gained 1.7% at Rs536.65 per piece. Britannia and Tata Consumer advanced 1.35% and 1.2% respectively while HUL was 0.77% on the upside. Radico gained 0.73%.

Emami and Varun Beverages were under pressure, shedding over 1% each on Thursday.