FMCG stocks fall 7

FmCG stocks took a beating after industry behemoth HLL declared lower-than-expected financial results. Though Sensex gained 23 points, FMCG counters slipped up to 7 per cent and the Bombay Stock Exchange FMCG index plummeted 1.45 per cent in a relatively strong market. Hindustan Lever, which has a weightage of about 6.5 per cent, was the sole loser during the day among the top-ten heavyweight counters in the benchmark BSE Sensex. The stock dipped 3.33 per cent during the day to close at Rs 192.8 witnessing an erosion in market capitalisation worth Rs 732 crore. The other heavyweight losers among the FMCG pack included Nestle, Nirma, Dabur, Gillette, Colgate Palmolive and Godrej Consumer Products. These counters declined up to 2 per cent during the day.