FMCG Stocks Outlook
More pain seen next week on rising oil prices, rupee fall
This story was originally published at 19:23 IST on 20 March 2026
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MUMBAI – The spike in crude oil prices is likely to further weigh down the fast-moving consumer goods sector, analysts said. While the war in West Asia has affected the overall market, the benchmark Nifty 50 index ended the week nearly flat despite plunging nearly 3.5% Thursday. The sectoral Nifty FMCG index on the other hand fell nearly 2% on week.
The Brent Crude futures contracts on the Intercontinental Exchange have risen as much as 65% since the start of the hostilities in West Asia. The contract for delivery in May rose to an almost four-year high of $119.50 per barrel on Mar. 9. At 1750 IST Friday, it was at $106.84 per barrel. The increased crude oil price poses a risk to the raw material used in packaging by FMCG companies, Nirmal Bang Equities said.
The rise in crude oil prices could also push edible oil prices higher, given linkages through biofuels and energy costs, the brokerage said. The rupee's fall to a new low against the dollar is also a headwind to import-linked inputs that could exacerbate cost pressures for FMCG companies. The Indian currency closed at 93.7100 a dollar Friday, against 92.6300 Wednesday. Friday, the rupee logged its biggest single-day fall in over four years.
Friday, the Nifty FMCG index rose 0.3%, or 145.60 points, to end the week at 47007.55 points. Five of its constituents closed in the red while all the others ended in positive territory. The current corrective phase may take the index towards 44300 points, with immediate support pegged at 46500 points and resistance at 48000 points, Vatsal Bhuva, technical analyst at LKP Securities, said. "Momentum remains weak with RSI (relative strength index) showing a negative bias," Bhuva said. He expects the weak momentum in stocks such as Hindustan Unilever, Dabur, and Colgate-Palmolive (India) to continue.
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Following are the resistance and support levels for key FMCG stocks for next week as per calculations based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| AWL Agri Business | 192.10 | 11.10 | 207.20 | 169.70 |
| Britannia Industries | 5,618.50 | (-)3.30 | 5,810.80 | 5,495.80 |
| Colgate-Palmolive (India) | 1,896.10 | (-)3.10 | 1,934.40 | 1,870.80 |
| Dabur India | 430.70 | (-)5.00 | 437.30 | 425.70 |
| Emami | 402.75 | (-)3.20 | 417.30 | 393.00 |
| Godrej Consumer Products | 1,017.60 | (-)1.00 | 1,045.90 | 998.70 |
| Hindustan Unilever | 2,082.70 | (-)3.60 | 2,114.60 | 2,053.00 |
| ITC | 299.95 | (-)0.50 | 312.90 | 291.70 |
| Jyothy Labs | 208.55 | (-)5.10 | 214.60 | 203.10 |
| Marico | 744.30 | (-)1.10 | 754.60 | 735.00 |
| Nestle India | 1,193.60 | (-)0.70 | 1,218.10 | 1,165.30 |
| Procter & Gamble Hygiene and Health Care | 9,707.00 | (-)7.80 | 10,185.70 | 9,437.70 |
| Tata Consumer Products | 1,050.20 | (-)3.10 | 1,062.40 | 1,037.40 |
| Varun Beverages | 401.45 | 0.00 | 413.40 | 394.10 |
| Index | Level | |||
| Nifty FMCG | 47007.55 | (-)1.90 | 47970.20 | 46444.00 |
| Nifty 50 | 23114.50 | (-)0.20 | 23453.30 | 22898.20 |
| S&P BSE Sensex | 74532.96 | (-)0.00 | 75636.10 | 73833.40 |
End
US$1 = INR 93.7100
Reported by Simran Rede
Edited by Rajeev Pai
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