HUL hits all-time high; surges 5% in early trade

FMCG giant Hindustan Unilever Ltd (HUL) today soared nearly five per cent to hit an all-time peak on the Bombay Stock Exchange in the morning session, taking the consumer durables index higher by 84 points.

Shares of HUL witnessed a smart jump of 4.78 per cent to touch a life-time high of Rs 317.25 per scrip on the BSE.

The scrip emerged as the top performer on the 30-share benchmark in the early trade.

The rise in the stock helped the FMCG index on BSE gain the most among the 13 sectoral indices in the start of the session at 3,770.46, up 84 points from the previous close.

Marketmen attributed the surge in the stock to the strong investor confidence in the consumer goods stocks ahead of the peak festive season.

In a similar fashion, the HUL shares soared 4.66 per cent to Rs 317.45 per piece on the National Stock Exchange.

The surge in the shares of the FMCG major also drove the recovery of the broader gauge, which started the day on a weak note but later rebounded to trade over 80 points higher at 19,941.44 level.

Shares of other FMCG companies were also trading in green. ITC was trading 1.33 per cent up at Rs 178.95 while shares of Marico Industries were trading at Rs 130.00, up 2.56 per cent from previous close.