MUMBAI (Commodity Online): FMCG stocks boom amid high volatility in the markets today. Key FMCG stocks extended gains on the Bombay Stock Exchange (BSE) with sectoral index trading in green.
Colgate Palmolive, ITC Ltd and Hindustan Unilever Ltd were among the top gainers in the FMCG category. Colgate-Palmolive (India) Ltd (BOM: 500830) gained by close to 1% to Rs.640 during the afternoon trading session today. Hindustan Unilever Ltd (BOM: 500696) gained the most at Rs.282.65 up by close to 6% amid weakness on the bourses. ITC Ltd (BOM: 500875) traded at 245.45 up by close to 3% on the BSE today.
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The sectoral index, BSE FMCG gained by 2.6% at 2698 points. Meanwhile, the key benchmark index, Sensex was trading in red at 16813.26 up by 0.32% from its previous close.
The rise in the FMCG segment was mainly attributed to the upcoming festive season in India. Upbeat mood in the economy with increased salary structure has pushed the expectations of consumption expenditure upwards.
Companies anticipate increased selling during the festive season, on the back of which the stock prices have seen an upward trend.
