Nifty FMCG remains stable, index exceeds 195 pts as Varun Beverages, United Breweries, HUL lead

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FMCG stocks are the focus of attention as expectations for price increases due to rising commodity prices in the future gain momentum. Overall, however, the FMCG Index is trading on a higher note, particularly thanks to heavyweight Hindustan Unilever as well as Varun Beverages and United Breweries. The FMCG index was among the main sectors that challenged the larger volatile markets. The index also limited losses on the NSE and BSE benchmarks.

The Nifty FMCG Index was trading between an intraday high and low of 41,452.30 and 41,108.20 respectively. At around 11:59 a.m., the index was trading at 41,365.20, up 195.50 points or 0.47%.

Varun Beverages was the first winner with an increase of 5.5%, while Varun Beverages followed with a gain of almost 2.6%. The HUL heavy truck index climbed more than 1%. The ITC jumped nearly 0.6%.

Dabur India and PGHH jumped 0.3% each, while Colgate Palm-olive and Tata Consumer Products edged up. Mcdowell traded flat.

On the downside, Marico was the first bear to fall 1.2%, followed by Nestlé India which plunged 0.9%. Godrej Consumer Products and Britannia fell slightly, while Jubilant Foodworks and Emami were on a moderate note.

For the sector, Nestlé chief Suresh Narayanan expects commodity prices to continue to rise and lead to a specter of food inflation for manufactured goods. Narayanan at a virtual media roundtable told reporters that in the future, “2022 is clearly shaping up to be a difficult year.”

Over the past six to eight months, Nestlé has seen an average price increase of 1-3% and the company’s products are expected to become more expensive in 2022. Likewise, we can expect that other FMCG players are also closely watched. .

The sector is also expected to experience better sales and better demand over the coming holiday season.


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