FMCG sector weightage in Nifty 50 falls to lowest level since 2010

The Nifty FMCG index has been almost flat since and is up just the 0.3 per cent since the start of the 2024 calendar year

The Indian equity market reached a new high on Wednesday as the benchmark S&P BSE Sensex crossed the 80,000 mark for the first time. Similarly, the National Stock Exchange Nifty 50 crossed 24,300 during the day and closed with gains of 0.67 per cent.

Year-to-date, the Nifty 50 has risen by 11.8 per cent, while the Sensex has increased by 10.7 per cent since the beginning of the year.

The recent rally in the Indian equity market occurred despite limited support from fast-moving consumer goods (FMCG) heavyweights such as Hindustan Unilever, ITC, and Asian Paints, among others.