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FMCG stocks decline as IMD predicts below normal monsoon

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Shares of six FMCG stocks fell by 0.21% to 1.05% at 11:20 on after the Meteorological Department said rains this year will be below normal as the chances of El Nino occurring during monsoon are very high.

The FMCG index was down 0.48% at 6,900.64. It underperformed the Sensex, which was down 0.43% at 25,469.64.

ITC (down 1.05% to Rs 335.10), Tata Global Beverages (down 0.96% at Rs 169.60), Marico (down 0.77% at Rs 249.80), (down 0.82% at Rs 188), Godrej Consumer Products (down 0.18% at Rs 843.30), and Nestle (down 0.21% at Rs 4,883.95) edged lower.

Britannia Industries (up 0.22% at Rs 882.90), Colgate-Palmolive (India) (up 0.79% to Rs 1,436.45) and Hindustan Unilever (up 0.18% to Rs 633.20) gained.

The FMCG index had underperformed the market over the past one month till 9 June 2014, rising 1.95% compared with the Sensex's 11.25% rise. The index also underperformed the market in past one quarter, rising 4.86% as against Sensex's 16.7% rise.

Shares of FMCG companies declined after the India Meteorological Department (IMD) on Monday, 9 June 2014, said rains this year will be below normal as the chances of El Nino occurring during monsoon are very high at more than 70%. FMCG firms derive substantial revenue from rural India.

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First Published: Tue, June 10 2014. 11:26 IST
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