Nifty FMCG index falls as food inflation edges higher

Increased Consumer Food Price Index (CFPI) data for the month of August seems to have upset many FMCG stocks as the Nifty FMCG index broke three-session winning streak to slip into the negative zone in Wednesday’s early trade.
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The Nifty FMCG index was trading at 25,737, down 0.68 % around 10.25 am (IST), with shares of FMCG majors ITC (down 1.60 %), Emami (down 1.55 %), Jubilant Foodworks (down 1.11 %), Tata Global Beverages (down 0.21 %) and Hindustan Unilever (down 0.06 %) as the laggards.

However, some FMCG stocks such as Godrej Consumer Products(up 1.29 %), United Breweries (up 1.03 %) and United Spirits (up 0.80 %) registered good gains.

The overall market appeared firm, with bank, auto and IT stocks as lead gainers.

Benchmarks Nifty and Sensex were at 10,113 and 32,221, respectively, each up by 0.20 % around that time.

In the Nifty pack, Tata Power, Reliance Industries, Bank of Baroda, Tech Mahindra and TCS were trading as the top gainers.

ITC, Larsen & Toubro, Bharat Petroleum and Indiabulls Housing Finance were losing in trade.

In the Nifty50 pack, 32 stocks were trading in the green, while 19 stocks were in red.

On BSE, 1,243 stocks were advancing whereas 892 stocks were lagging.

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