FMCG stocks rebound steeply
ITC gains 4.5%, after the cigarette maker had dropped 10.6% since hitting a record high on April 27
Consumer goods stocks rally with investors, recovering from recent steep falls.
ITC gains 4.5%, after the cigarette maker had dropped 10.6% since hitting a record high on April 27 as of Tuesday's close.
Hindustan Unilever gains 4.1%, having falling 7.4% since its all time high on May 10 as of the previous close.
Consumer good stocks had previously rallied because of expectations for good earnings, and as investors sought out more defensive sectors as protection against broader market volatility.
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First Published: Jun 06 2012 | 3:07 PM IST