FMCG Stocks Outlook
Seen down amid overall market weakness on West Asia war
This story was originally published at 22:15 IST on 2 April 2026
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MUMBAI – Shares of companies that are part of the Nifty FMCG index are expected to face some weakness in the near-term, analysts said. This is in line with the ongoing downtrend in the overall market owing to the war in West Asia. Benchmark indices closed the last trading session of the week higher, but overall, the index clocked losses for the week, implying the continued negative sentiment among market participants.
On Thursday, the Nifty FMCG index closed 0.2% higher at 46232.15 points. The Nifty 50 settled at 22713.10, up 33.70 points or 0.2%, and the BSE Sensex ended at 73319.55, up 185.23 points or 0.3%. For the week, the sectoral index closed 0.4% lower, slightly better than the benchmark Nifty 50 that closed 0.5% lower.
Colgate Palmolive (India), United Spirits, and United Breweries were the worst performers in the Nifty FMCG index this week, falling around 3-5%. Varun Beverages, Marico, and Emami were the top performers, up around 1-4% this week. Analysts expect the Nifty FMCG index to face resistance at 46600-47000 points and find support at 45300 points.
The March quarter earnings of fast-moving consumer goods companies are expected to be similar to that of the December quarter. While they are expected to see some benefit from lower goods and services tax in the March quarter, high crude oil prices and liquefied petroleum gas shortages are expected to weigh on earnings.
For the March quarter, the sector is expected to deliver healthy sales growth of 9% year-on-year, comfortably outperforming the eight-quarter average of 7.1%, Nomura said in a report. This growth is largely volume-led rather than price-led, a significant shift from the inflation-heavy quarters of previous years, it said.
TOP HEADLINES
* Consumer goods, durables cos to hike prices to pass on input cost increase
* Emami to acquire remaining 73.5% stake in Axiom Ayurveda for INR 2 bln
* Marico says consolidated revenue grew in low twenties on-year in Jan-Mar
* IPO Alert: Amir Chand Jagdish to list Thu; issue price set at INR 212/share
* Britannia Ind reappoints N Venkataraman as CFO, ED for 4 years from Jul 30
* SEBI bans Elitecon Intl, its MD from securities mkt over stock manipulation
* IPO Alert: Amir Chand Jagdish IPO gets subscribed 3.23 times on final day
* Bombay Burmah Trading Corp sells Dunsandle tea estate for INR 1.20 bln
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 | 183.71 | (-)0.90 | 188.80 | 174.60 |
| Britannia Industries | 5,442.00 | (-)1.10 | 5,541.00 | 5,302.00 |
| Colgate Palmolive India | 1,829.50 | (-)2.50 | 1,869.80 | 1,762.00 |
| Dabur India | 417.25 | (-)0.60 | 430.20 | 396.90 |
| Emami | 398.30 | 1.30 | 409.10 | 380.10 |
| Godrej Consumer Products | 994.80 | (-)1.40 | 1,020.80 | 954.10 |
| Hindustan Unilever | 2,065.30 | (-)0.40 | 2,100.00 | 2,005.20 |
| ITC | 292.85 | (-)0.60 | 296.90 | 286.40 |
| Jyothy Labs | 208.05 | 2.10 | 215.80 | 194.50 |
| Marico | 761.35 | 2.60 | 791.20 | 714.00 |
| Nestle India | 1,191.30 | (-)0.20 | 1,224.20 | 1,143.00 |
| Procter & Gamble Hygiene and Health Care | 9,757.00 | 6.80 | 10,023.00 | 9,311.00 |
| Tata Consumer Products | 1,042.00 | (-)0.60 | 1,070.70 | 992.90 |
| Varun Beverages | 403.70 | 3.70 | 414.20 | 385.40 |
| Index | Levels | |||
| Nifty FMCG | 46,232.15 | (-)0.40 | 46,941.60 | 44,979.40 |
| Nifty 50 | 22,713.10 | (-)0.50 | 23,159.10 | 21,959.60 |
| S&P BSE Sensex | 73319.55 | (-)0.40 | 74834.00 | 70788.60 |
End
Reported by Simran Rede
Edited by Tanima Banerjee
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