Nifty FMCG Index Surges 2.02% on Strong Earnings

Nifty FMCG Index Surges 2.02% on Strong Earnings (Image: Pixabay)

VoM News Desk | May 7, 2024 | 05:36 PM IST | Breaking News | Follow on Google News

Nifty FMCG Index Surges

Nifty FMCG Index Surges: The Nifty FMCG index experienced a notable 2.02% surge, recording its most significant single-day gain in nearly two years on Tuesday, May 7. Despite broader market selloffs, upbeat corporate earnings propelled the index higher.

Leading FMCG giants such as Hindustan Unilever Ltd (HUL), Marico, Britannia Industries, Nestle India, and ITC saw impressive gains ranging from 5% to 10% during the session. Notably, consumer goods maker Marico soared 10%, marking its best performance in approximately 15 years, following its forecast of revenue growth surpassing volumes in fiscal year 2025.

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