Tata Global Beverages (up 2.49%), ITC (up 1.37%), United Breweries (up 1.12%), Marico (up 0.86%), Dabur India (up 0.67%), Hindustan Unilever (up 0.77%) and Nestle India (up 0.06%), edged higher.
The BSE FMCG index was up 0.82% at 4,018.07. It outperformed the Sensex, which was down 0.15% at 15,356.77.
The BSE FMCG index had outperformed the market over the past one month until 19 December 2011, falling 2.20% compared with the Sensex's 6.06% decline. The index had also outperformed the market in past one quarter, gaining 2.27% as against 8.16% fall in the Sensex. In the past one year, BSE FMCG index has risen 12.47% till 19 December 2011 compared with a decline of 22.58% in the Sensex.
FMCG stocks are considered defensive bet in a falling market. Unlike other areas of the economy, even during economically slow times, the demand for the products made by consumer staples companies does not slow.
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