The Indian market continues to look to steady its ship, as the volatility has pushed the indices up and down more frequently in the recent past.
FMCG Stocks On The Rise
After making gains on Thursday, the marquee indices are trading in green with minor gains. Meanwhile, FMCG shares appear to be on the rise. Some of the biggest names in the industry have started the last of trading for the week on a positive note.
Hindustan Unilever Ltd
When we look at Hindustan Unilever, one of the biggest of them all. HUL shares surged 1.84 per cent or Rs 41.35.
This took the overall value of the Mumbai-based FMCG company shares to Rs 2,286.00 per share. In the past month of trade, the company shares have risen by Rs 94.75 or 4.33 per cent.
Nestle India Ltd
Nestle India, the Indian arm of the Swiss-Giant Nestle, also saw its shares rise in the intraday trade.
The company shares jumped 1.82 per cent or Rs 40.75 per share. This took the overall value of the company shares to Rs 2,282.80.
Britannia Industries Ltd
The Kolkata-based Britannia was also trading in green with major gains. The company shares made a total expansion of 2.85 per cent or Rs 137.90.
This surge in the trading session took the overall value of Britannia to Rs 4,979.10 per shares.
ITC Ltd
Another Kolkata-based company, ITC also saw a rise in the company shares.
The company that gains most of its revenue from the sale of tobacco products upped its value by 1.00 per cent or Rs 4.10, taking the overall value to Rs 413.55 per piece.
Why Is This Happening?
This surge in the price of FMCG stocks is largely attributed to a renewed possibility of the sector growing, after a recent slowdown.
In addition, the potential of the rural market, and ambitions to penetrate this market has also shown signs of expansion and progress.
In addition, the reduction of the interest rate or repo rate by RBI has aided flow of resources.
Not just, the recent decline in inflation but also the subsequent consumption boost in India, has also further upped the prospect of growth of the FMCG sector.
