The BSE FMCG index was down 0.12% at 6,124.37. It underperformed the Sensex, which was down 0.02% at 19,165.88
Britannia Industries (down 1.33%), Nestle India (down 0.71%), GlaxoSmithkline Consumer Healthcare (down 3.18%), Colgate-Palmolive (India) (down 0.7%), Hindustan Unilever (down 0.63%), Dabur India (down 1.01%) and Tata Global Beverages (down 1.25%) declined. Godrej Consumer Products gained 3.28%.
Index heavyweight and cigarette major ITC rose 0.28% to Rs 317.80. The stock hit a record high of Rs 318 in intraday trade today, 23 April 2013. The government raised the excise duty on cigarettes by about 18% on all cigarettes except cigarettes of length not exceeding 65 mm in Union Budget 2013-14, which was unveiled on 28 February 2013.
FMCG shares declined today, 23 April 2013 on profit booking after recent upmove triggered on reports of likely normal monsoon this year. FMCG companies derive a substantial revenue from rural markets.
The BSE FMCG index had outperformed the market over the past one month till 22 April 2013, rising 4.76% compared with the Sensex's 2.32% rise. The scrip also outperformed the market in past one quarter, advancing 6.81% as against Sensex's 4.06% fall.
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