US election results impact on FMCG stocks
DSIJ Intelligence / 09 Nov 2016
Market is yet to grapple with the situation with Sensex down by almost 3 per cent on an intraday basis. As of now Trump is leading with a major lead and is all set to win the elections. Global markets as expected are reacting negatively to the development in the US.
Market is yet to grapple with the situation with Sensex down by almost 3 per cent on an intraday basis. As of now Trump is leading with a major lead and is all set to win the elections. Global markets as expected are reacting negatively to the development in the US.
It was expected that markets may come down by almost 6 per cent if Trump wins. Dow futures as of now is trading down by 3 per cent.
FMCG sector stocks are down, with ITC leading the downfall and contributing to 193 points of the 322 points fall in the BSE FMCG index. Other stocks like Hindustan Uniliver, Nestle, United Spirits, etc., are down by more than 3 per cent on an intraday basis on Wednesday.
The index is down by almost 3.75 per cent or 322 points at 8,268 levels. FMCG index is one of the few sectoral indices that is doing well compared to other indices.
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