FMCG stocks among top losers

New Delhi: Fast Moving Consumer Goods (FMCG) stocks are trading weak on Tuesday with the sectoral index down 1.9 per cent.

FMCG index is among the top sectoral losers. Sensex stock Nestle is down more than 3 per cent.

Colgate Palmolive is down almost 4 per cent. Honasa Consumer is down 3.7 per cent, Tata Consumer is down 3.4 per cent, Patanjali Foods is down 3.2 per cent, United Breweries is down 3 per cent, Godrej Consumer is down more than 2 per cent, Britannia is down more than 2 per cent.

BSE Sensex is down more than 600 points on broad based selling. Most sectoral indices are trading in the red.

Corporate commentary on the FMCG sector has highlighted the muted demand setting prevailing in Q4FY24, which has been projected by data agencies for CY24, Emkay Global Financial Services said in a recent report.

Nielsen, which tracks retail data, is building a case of 4.5-6.5 per cent value growth for the sector. Kantar, which tracks household consumption data, echoed the same muted outlook, the report said.

With the El-Nino effect remaining till May-24 (agri growth is projected at 1.8 per cent in FY24; a seven-year low), and expectation of no material shift in consumption from elections (as in the past), demand outlook remains weak for 1HFY25, Emkay Global Financial Services added.


Market Outlook: Budget, Q1 results & FII inflows key factors for upcoming week

Mumbai: India equity indices witnessed volatility in the last week. At the start of the week, indices experienced buying but in the last session profit booking was seen in the...

Union Budget: Markets bet big on defence, capital goods, electronics manufacturing, tourism

New Delhi: As the Centre is set to present the Union Budget 2024-2025 on July 23, stock market experts bet big on four key sectors -- capital goods, defence, electronics...

Study shows how cancer cells evade drug treatments

New Delhi: US researchers have found during a study how cancer cells manage to evade despite treatment. Published in the Proceedings of the National Academy of Sciences, the study delves...

UPI adding up to 60 lakh new users every month, global adoption surge

New Delhi: The digital payment growth continues to surge and Unified payments Interface (UPI) is now adding up to 60 lakh new users every month. The stupendous growth in UPI...

Economic Survey to be tabled in Parliament on July 22

New Delhi: Finance Minister Nirmala Sitharaman will table the Economic Survey in Parliament on July 22, a day ahead of the Union Budget, which will be a report card on...

100 crore new jobs to be created globally in 20 years, India to have 25 pc share

New Delhi: The world is likely to see a huge addition of 100 crore new workers in the global economy in the next 20 years and India will have at...

Sharp selloff hits Indian stock market, investors lose Rs 8 lakh crore

Mumbai: The Indian equity market witnessed a sharp selloff on Friday, following weak global cues and profit booking on higher levels. At closing, Sensex was down 738 points or 0.91...

NITI Aayog sets $500 bn target for electronics manufacturing to create 6 million jobs by 2030

New Delhi: India's goal of becoming the third-largest global economy necessitates a more ambitious vision for its technology-driven sectors to achieve a USD 500 billion target in electronics manufacturing by...

Indian economy shows signs of speeding up as rural demand surges: RBI

Mumbai: The second quarter (July-September) of 2024-25 has begun with signs of quickening momentum in the Indian economy as an improvement in the outlook for agriculture and the revival of...

Vehicles with non-affixed FASTag have to pay double fee at toll plazas: NHAI

New Delhi: The Centre said on Thursday that owners of vehicles with non-affixed FASTag on the front windshield will have to shell out double fee at the toll plazas on...

Infosys’ headcount drops 1,908 in Q1 FY25, plans to hire 20,000 freshers as per growth

Bengaluru: IT giant Infosys on Thursday reported a drop in headcount by 1,908 in the April-June quarter of the current fiscal (FY25). The company’s Chief Financial Officer (CFO) Jayesh Sanghrajka...

ADB forecasts robust growth in India’s industrial sector, rebound in agriculture

Manila: The Asian Development Bank (ADB) has kept India’s growth forecast unchanged at 7 per cent in 2024-25 as it sees the country as the fastest growing economy with robust...

Read Previous

American Dream of several Indian-descent families ends inexplicably in pools of blood

Read Next

Bank of Japan ends decades-long negative interest policy

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By :