From Britannia to Nestle, consumer companies turn laggards on Street

BSE FMCG index has gained just 2.4% since the Union Budget, compared to the 11.4% rally in the benchmark during the period

The recent performance of the BSE FMCG index suggests equity investors are no more bullish about consumption growth in India.

The index, which tracks the share prices of top consumer goods companies such as Hindustan Unilever, ITC, Nestle, Britannia, Dabur, Colgate Palmolive, and Tata Consumer, has become a laggard by a big margin.

The index has been flat since the middle of December and hardly participated in the post-Budget rally.

It is up 2.4 per cent since the Budget against an 11.4 per cent rally in the Sensex during the period.

The Sensex is up nearly 12 per cent in the past two months,