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Markets continue on the upward trajectory
During the week, the Indian stock market continued its strong performance,
with the Sensex and Nifty rising by 2.1% and 2.0%, respectively. The Indian
market showed resilience during the week, gaining despite a number of
markets across the world remaining flat or negative. The week was much
lesser volatile, unlike the earlier weeks. During the week, India's food inflation
increased to 14.1% compared to 12.1% during the previous week. BSE midcap
and small-cap indices outperformed the large-cap indices, growing
2.3% and 3.4%, respectively. On the sectoral front, the BSE realty index was
the biggest gainer, up 3.3%, followed by the BSE FMCG index and BSE
Bankex, up 2.8% each. The BSE oil and gas index lagged the other indices,
losing 0.3% of its value during the week.
FMCG marginally outperforms the Sensex
The BSE FMCG index marginally outperformed the Sensex by gaining 2.8%
during the week. Gains were largely driven by heavy weights HUL, ITC,
Colgate, Glaxo Consumer and Nestle India; while among mid caps, United
Breweries was the major gainer. During the week, Glaxo Consumer increased
the most by 7%. HUL gained 6% as news of selling its prime property near
Worli sea face in an attempt to consolidate its land holdings and monetise
non-core assets came early this week. ITC and Nestle were up 3% each.
Colgate gained 2%. United Breweries gained 7% during the week, largely
on account of the New Year festivities.
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