Last Updated :
28 April 2009 at 13:55 IST
HUL, ITC take a dip as consumer demand weakens
Commodity Online
MUMBAI: FMCG majors traded negative on the bourses today as markets continued reeling under negative sentiments amid heavy selling pressure.
Concerned with the falling consumer demand in the wake of reduced GDP growth rate of the country, India’s consumer giants are facing tough time to sail through. Many companies are found to have put a cut to their expenses, let it be advertisement or the input cost.
Leading FMCG companies including Hindustan Uniliver Ltd (HUL) and ITC Ltd traded negative today. HUL was trading at Rs.225 down by 2.60% and ITC Ltd was traded at Rs.186 down by 3.73% during the afternoon trading session on the BSE.
The sectoral index, BSE FMCG traded 2051 points down by 2.77% from its Monday’s levels. Ruchi Soya Industries Ltd, which recorded a fall of over 3% at Rs.28.5 during the day. Meanwhile, Sensex traded at 11099 points down by over 2.4% or 272 points.
Experts opined that the current fiscal would bring some positive indications to country’s FMCG sector, which till now was faced with critical situation of reduced demand from end consumers.
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