Shares of fast moving consumer goods (FMCG) companies were in focus with the S&P BSE Index up more than 2% hitting a new high on the BSE.
The FMCG index hit record high of 11,085 in intra-day trade surpassed its previous high of 11,047 recorded on February 1, 2018.

At 01:47 pm; the S&P BSE FMCG index, the largest gainer among sectoral indices, was up 2.1% as compared to 0.45% rise in the S&P BSE Sensex.

In past two weeks, the FMCG index has outperformed the market by surging 7% after private forecaster Skymet said monsoon in India is likely to be normal with no chances of drought this year. On comparison, the benchmark index was up 5% during the same period.

The Indian Meteorological Department’s (IMD) has also predicted southwest monsoon (April-September) to be at 97% of the long period average (LPA) with a margin of error of +/- 5%.

ITC, Godrej Consumer Products and Dabur were up more than 3% today. Hindustan Unilever, Nestle India, Gujarat Ambuja Exports and Godrej Consumer Products from the FMCG index hit their respective record highs on the BSE.