Auto, FMCG lead market charge as Nifty closes at a four-month high

The benchmark Nifty on Thursday closed at 17,659 — the highest close since April 11, when it had ended at 17,675.

The market has been on a roller-coaster ride since April 11 — first dropping as much as 10 per cent to 15,924 on June 17 and then climbing 11 per cent.

While the index is back to where it was four months ago, stock prices of its 50 components — with the exception of just a few — have seen significant changes.

Investors would have been better off rotating into automotive and fast-moving consumer goods stocks and rotating out