Nifty FMCG stocks were trading marginally lower amid volatile trade on Wednesday.
Varun Beverages and
United Breweries dragged the most while,
Emami surged 4% to outperform. The FMCG index after a bullish start slipped into the negative zone before resisting further losses as the day progressed.
Domestic barometers were fragile as buying in auto shares was offset with selling in Information Technology and FMCG stocks a day ahead of the monthly expiry of June future and option contracts.
At around 2.15 PM, Nifty FMCG was trading at 36,238.75
down 60.90
points or 0.17%, touching a high of 36,437.35 and low of 36,111.15 during intraday trade on Wednesday.
BSE Sensex was trading at 52,498.87 down 89.84 points or 0.17% and Nifty50 at 15,748.75 down 24.00 points or 0.15%.
VBL shed nearly 3% at Rs755.00 per piece to drag the sector while UBL was also down around 2.5% at Rs1,421.80 per piece. United Breweries (UBL) revered it yesterday’s gain post block deal. The stock has hit a 52-week high of Rs1,498.95 on the NSE earlier today. Around 40 million equity shares of the company changed hands via block deals on the BSE.
United Spirits was also 1% down. HUL, ITC and Nestle India also traded lower. Procter & Gamble Hygiene and Colgate Palmolive was trading flat.
Emami led the gains by surging nearly 4% at Rs548.95 per piece and provide support to the sector. Godrej Consumer was also 0.8% higher and Britannia also rose 0.5%. Tata Consumer, Jubilant FoodWorks, Dabur and Marico were also trading higher.
Related Tags: