FMCG, healthcare stocks withstand investor pressure in weak market

Fearing that companies may not post good Q2 numbers, Sensex closed the day 1.30% down at 18,693.13

Consumer product and healthcare companies withstood the pressure created by jittery investors who hammered stocks today following concerns over the global economic outlook and its impact on corporate earnings.

India Inc is scheduled to announce results for the second quarter of the current fiscal shortly.

Fearing that companies may not post good numbers for the quarter under review thanks to overall weakness in the global as well as the domestic economy, the benchmark Bombay Stock Exchange (BSE) Sensex closed the day 1.30% down at 18,693.13.

Most sectoral indices were down including auto, information technology, oil & gas and realty on the BSE. Only fast moving consumer goods and healthcare appeared to have bucked the trend with the FMCG Index closing up marginally at 0.03%, while healthcare inched up 1.2% over Friday's close.

Among consumer companies, Colgate-Palmolive, Godrej Consumer, ITC and Tata Global Beverages were up, while Dabur, Hindustan Unilever (HUL), Jubilant Foodworks and Nestle were down during trade today.

Of the healthcare companies, Apollo Hospitals, Aurobindo Pharma, Cadila Healthcare and Sun Pharma were some of the top performers for the day, while Biocon, Lupin and Ranbaxy were down.