The Nifty FMCG stocks rose over 250 with the broader market term being on the bullish note on Thursday.
ITC surged 3% while
Emami stayed bullish post Q1 earnings.
Britannia Industries also was higher.
Varun Beverages dragged the most after Q1 earnings and
Colgate Palmolive also shed over 1%.
The Indian equity indices, Sensex and Nifty traded near fresh record levels after volatility in the morning. Among sectors, PSU Bank, realty indices fell the most, while Nifty IT, Nifty Metal, and Nifty Pharma indices are in the green.
Concerns over the rapid spread of Delta variant as the coronavirus pandemic takes centre stage globally hinting for restrictions and slowdown in economic growth recovery. Globally the markets were mixed on Thursday.
At around 2.10 pm, BSE Sensex was trading at 54,688.58 up 318.81 points or 0.59% and Nifty50 at 16,341.60 up 82.80 points or 0.51%.
Nifty FMCG was trading at 36,700.15
up 217.70
points or 0.60% after touching a high of 36,711.50 and low of 36,320.90 during intraday trade on Thursday.
ITC rose 3% at Rs214.95 per piece amid reports that the company will ramp up the direct-to-consumer play through its own e-store after rising online sales. The company had reported a 28.6 per cent YoY growth in standalone profit at Rs 3,013.5 crore for Q1FY22, partly driven by low base in the year-ago quarter.
Emami continued to rise after stellar Q1 results on Tuesday. The company stock gained 1% at Rs567.35 per piece. Britannia also advanced 0.8% at Rs3,606.00 per piece. Tata Consumer also rose 0.6%. Nestle India and United Spirits were also over 0.4% higher while Dabur India was marginally higher.
Varun Beverages dragged the most at Rs778.95 per piece, down 1.75%. Varun Beverages Ltd (VBL) recorded a net profit for the Jun-21 quarter was up 119% yoy at Rs308.17cr as top-line improved yoy resulting in more efficient absorption of fixed costs in the production line.
Colgate Palmolive shed over 1% at Rs1,649.35 per piece. Godrej Consumer also shed nearly 1% post Q1 earnings. UBL, Jubilant Foodworks, Marico were over 0.7% lower. HUL was down 0.4% while P&G Hygiene was also marginally lower.
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