FMCG stocks play safe haven role as market ship rocks in rough seas

FMCG shares attracted strong buying interest on Friday as investors turned to defensives in a volatile market session.

The Nifty FMCG index rose 1.10% to 56,224.69, outpacing the broader benchmarks. The Nifty 50 index was up 0.04% at 24,510.25.

Colgate Palmolive India led the pack with a 2.56% jump, followed by Britannia Industries which advanced 1.86%. ITC gained 1.77% while Dabur India added 1.28%. Godrej Consumer Products rose 1.14% and Patanjali Foods was up 1.10%.

Hindustan Unilever climbed 0.9%, Nestle India added 0.83%, United Spirits rose 0.77% and Tata Consumer Products moved up 0.72%. Emami gained 0.59%, Marico rose 0.55% and Radico Khaitan inched 0.38% higher.

 

The defensive buying in consumer staples comes as investors looked for stability amid choppy global cues and lingering concerns over foreign fund outflows.

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