Twelve FMCG stocks rose by 0.08% to 3.95% at 11:35 IST on BSE, extending recent gains on expectations of normal monsoon rains this year.
Marico (up 8.63%), Procter & Gamble Hygiene & Healthcare (up 3.95%), GlaxoSmithKline Consumer Healthcare (up 3.53%), Godrej Consumer Products (up 1.75%), Jyothy Laboratories (up 1.52%), Britannia Industries (up 1.27%), Nestle India (up 1.10%), Dabur India (up 0.92%), Colgate-Palmolive (India) (up 0.73%), Tata Global Beverages (up 0.44%), Bajaj Corp (up 0.41%) and Hindustan Unilever (up 0.08%), edged higher.
Cigarette major ITC lost 2.82% at Rs 344.25 as the stock turned ex-dividend today, 31 May 2013, for dividend of Rs 5.25 per share for the year ended 31 March 2013. The stock hit record high of Rs 355.75 in intraday trade on Thursday, 30 May 2013.
The S&P BSE FMCG index was down 1.47% at 6823.27. It underperformed the S&P BSE Sensex, which was down 1.10% at 19993.32.
FMCG firms derive substantial revenue from rural India. The south-west monsoon, crucial for the country's agriculture-based economy, is likely to hit the Kerala coast by 2 June 2013, the India Meteorological Department (IMD) said on Thursday, 30 May 2013. After arriving over Kerala, monsoon moves gradually to cover the entire country by mid-July.
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