ITC, HUL: Is it time to bet on FMCG stocks in an uncertain market?

If the Nifty FMCG index manages to sustain above the 35,000-levels, it is expected to see a fresh breakout toward 36,200 to 36,400 levels

As states announce localised lockdowns and weekend curfews to pull the plug on the rapidly spreading coornavirus, the demand for packaged foods has risen with consumer goods companies, kirana stores and online grocery platforms seeing early signs of stocking up. 

As per media reports, Kirana stores and supermarkets have seen a 25 per cent spike in weekday grocery shopping volumes, while online grocer Grofers has seen a 30 per cent spike in weekly demand in the markets that have been affected by the second wave, particularly for packaged foods categories. FMCG firms such as ITC, Parle Products, Marico, Emami and CG