FMCG stocks gain; Dabur, Godrej Consumer scrips shine

MUMBAI: Led by Dabur India and Godrej Consumer, shares of FMCG companies gained by up to 3 per cent in a choppy stock market today.

Dabur India moved up by 2.72 per cent to Rs 134.30, while Godrej Consumer Products rose by 2.57 per cent to Rs 812.

Among others, Hindustan Unilever gained 2.15 per cent, ITC (1.34 per cent), Jubilant FoodWorks Ltd (1.41 per cent) and United Breweries (1.20 per cent) on the BSE.

FMCG is considered to be one of the defensive sectors, which attract inflows during sluggish phases of stock market.

Led by gains in these stocks, the BSE FMCG index ended at 5,895.15, up 1.13 per cent today.

"In turbulent times, FMCG majors such as Hindustan Unilever and ITC are acting as pure defensives and seeing buying interest," said Milan Bavishi, Head Research, Inventure Growth and Securities.

Recovering from a seven-day downtrend, the BSE benchmark Sensex today ended 23.11 points up at 18,704.53.

In the past seven sessions, the index had plunged by 889.02 points or 4.54 per cent.

Analysts said the market ended with marginal gains as investors preferred to remain on the sidelines ahead of the expiry of the monthly futures and options contracts on Thursday.