Nifty FMCG index hits six-week low; ITC, Godrej Consumer down 2%

Thus far in September, the Nifty FMCG index underperformed the market by falling 8% against 2% decline in Nifty 50 index.

Shares of fast moving consumer goods (FMCG) companies were under pressure with Nifty FMCG index hitting its six-week low, falling 8% so far in the current month on the National Stock Exchange (NSE) on valuation concerns.

ITC, Godrej Consumer Products, Colgate Palmolive (India), Hindustan Unilever (HUL), Marico and Jubilant FoodWorks among the key FMCG stocks that are trading lower in the range of 1% to 3% on the NSE.

The Nifty FMCG index, the sole loser from the sectoral indices, lost 1.7% at 30,288 in intra-day trade, as compared to 0.03% rise in the Nifty 50 index. The