Fast Moving Consumer Goods or FMCG stocks continued to drag in the late afternoon trade on Wednesday. While the benchmark indices were on a recovery path after a bearish trading session in the morning, FMCG stocks followed the opposite trend.
At around 3.28pm, Nifty FMCG was trading at 30,993.35 down ~1% or 293.40 pts.
Varun Beverages Limited stocks gained by 4.12%, while
Jubilant Foodworks followed lead by rising by 3.03%.
United Spirits gaining by 0.67% and
Godrej Consumer Products Limited rising by 0.66% were also among the top gainers.
Hindustan Unilever tumbled by 1.97% emerging as the top loser on the index.
ITC and
Dabur were the next on the list, both falling by 1% each.
The BSE FMCG index tumbled by 1.10% losing 126.39 pts. Apex Frozen Foods came out as the top gainer, rising by a whopping 10.65%. The stocks of Associated Alchohols and Breweries rose by 8.15% taking the stock price to 287.15.
Britannia Industries Ltd stocks underperformed by 0.44%.