FMCG withstands market pessimism, Tata Global leads the way
Shital Jibhe / 13 Jan 2017
The FMCG sector has withstood general pessimism and has gained 0.33 per cent. The FMCG index was primarily pulled up by Tata Global, which gained 3.9 per cent at Rs 130 from its previous close, followed by UBL which gained 1.5 per cent at the Rs 824.9 level.
The FMCG sector has withstood general pessimism and has gained 0.33 per cent. The FMCG index was primarily pulled up by Tata Global, which gained 3.9 per cent at Rs 130 from its previous close, followed by UBL which gained 1.5 per cent at the Rs 824.9 level.
Other FMCG heavyweights such as Dabur, Hindustan Unilever, Godrej Industries, Colgate Palmolive too were up by about 0.8-0.9 per cent. Britannia and ITC too were up marginally with 0.2 per cent gains. However, Godrej Consumer Products proved to be a drag with over 1 per cent loss at Rs 1561. Moreover, Emami and Jubilant Food followed suit with losses of 0.7 per cent each.
Going forward, the FMCG stocks might witness a slide ahead of results due to the negative impact on the earnings post demonetisation.
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