FMCG stks dip amid waning demand concern; ITC, HUL drop up to 9% in 2 days

The S&P BSE FMCG index, which fell 1.62 per cent in intra-day trade today, has slipped 4.5 per cent in the past two trading days

Shares of fast moving consumer goods (FMCG) companies were under pressure for the second straight day on Wednesday, falling nearly 5 per cent during the period, on concerns of slowing sales in the rural market.

On Tuesday, the country's largest FMCG company, Hindustan Unilever (HUL), posted a 9 per cent year-on-year (YoY) rise in net profit at Rs 2,187 crore for the July-September quarter (Q2 of FY22). This was marginally lower than the Rs 2,195 crore estimated by Bloomberg. While volume growth at 4 per cent was weaker than the 9 per cent in the June quarter, the company