Shares of FMCG and pharmaceutical companies witnessed strong buying interest on Tuesday, as benchmark indices extend their winning streak to a sixth straight session, supported by sustained foreign inflows.
The Nifty FMCG index climbed as much as 1.7 percent, with key constituents such as Hindustan Unilever, ITC, Varun Beverages and Nestle India registering gains between 1 - 2 percent.
Colgate-Palmolive (India) led the charge, rising 5.12 percent to an intraday high of Rs 2,674.20 on the NSE. Emami advanced 4.19 percent, while Radico Khaitan rose 3.43 percent.
In the pharma space, the Nifty Pharma index added 0.7 percent, driven by a rally in all of its stocks. Lupin, Laurus Labs, Glenmark Pharmaceuticals, IPCA Laboratories and Cipla gained over 3 percent during the session.
Investors shift focus towards defensive plays such as FMCG and pharma, which tend to offer stability during uncertain times.
"A brewing clash between President Trump and Fed Chair Powell over rate cuts could also weigh on global cues. Still, India’s strong fundamentals, favourable Q4FY25 expectations, and easing inflation continue to support the bull case," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
The broader market sentiment remained upbeat, with the benchmark Sensex and Nifty continuing their upward march on the back of consistent foreign institutional investor (FII) inflows and firm global cues. Blue-chip banking counters also contributed to the upmove.
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