Although it is one of the expensive sectors, BSE Fast Moving Consumer Goods (FMCG) index's value and returns over the years have only multiplied. Surging more than 46 percent in the last one week, the index has surpassed all other sectoral indices during volatile times.

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In the last one week, the index has jumped 46.65 percent, and in the last one year, it has risen 64.58 percent. However, this year the sector’s performance has remained tepid and slipped 3.73 percent.

A key contributor to the weekly gains for the index was Manpasand Beverages. The stock, in the last one week, has jumped nearly 5 percent while others like United Breweries, Parag Milk Foods and Godrej Consumer Products rose 1-2 percent.

However, the big FMCG names such as Jubilant Foodworks, Marico, United Spirits, Nestle India, Britannia, ITC and Dabur remained away from the spotlight.

On the weekly losers’ front, Agro Tech Foods declined the most by 1.30 percent followed by Varun Beverages which slipped 1.23 percent. Other FMCG giants like Emami, Hindustan Unilever, P&G, GSK Consumer fell more than 0.5 percent.

Even after slow rural demand growth, liquidity crisis and tougher GST base, the index managed to rally more than the other sectoral indices.

In a recent report on FMCG sector, Goldman Sachs was bearish on the index. “There is tepid outlook for near-term consumption. The muted trend will continue for at least two quarters as benefits of any government measures to revive rural demand will take time to reflect on demand,” it said.

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