FMCG index hits record high in range-bound market; Dabur, HUL up 2%

RBI governor Shaktikanta Das said that rural demand is recovering as reflected in the pace of tractor and retail two-wheeler sales, with rising farm activity

Shares of fast moving consumer goods (FMCG) companies were trading firm in an otherwise range-bound market with the Nifty FMCG (45,814.50) and the S&P BSE FMCG (16,663.76) indices hitting their respective record highs on Wednesday in the intra-day trade. The gains came on the back of expectation of volume recovery, going forward, driven by recovery in rural demand.

At 02:35 PM, Nifty FMCG (45,779) and the S&P BSE FMCG (16,651) were up 1 per cent each. In comparison, the benchmark indices, Nifty 50 and the S&P BSE Sensex, were down 0.25 per cent and 0.14 per cent, respectively. Emami,