HUL shares gain 4%, FMCG stocks trading in green while market crashes

Hindustan Unilever (HUL) share price surged over 4.7 per cent on Tuesday, June 4, amid early trends showcased that the results are not aligning with the exit poll.

At 1:00 pm, the HUL stock was trading at ₹2,469.05, against previous close at ₹2,355.90 on Monday. The stock increased 2.56 per cent over the previous week and 10% over the previous month.

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At this point, the Nifty FMCG was down 46.75 points, or 0.09%, trading at 54,606.85. Four companies were in the red, while 11 stocks were in the green. Dabur India, Colgate Palmolive, and Marico were the top gainers, rising up to 4%, while Balrampur Chini, Radico Khaitan, Varun Beverages, and ITC were the losers, falling between 4% and 0.76%.

Colgate-Palmolive (India) Ltd.'s share price increased by 1.05 per cent to ₹2713.80, on BSE. The recent week saw a bit less than 1 per cent growth in Colgate shares.

“The steep fall is due to the results so far falling short of the exit polls which the market had discounted yesterday. If BJP doesn’t get a majority on its own there will be disappointment and this is getting reflected in the market. Also it is possible that Modi 3.O may not be as reform-oriented as the market expected and may turn more welfare- oriented. This is getting reflected in the strength in FMCG stocks,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Other sectors like Nifty Pharma and Nifty Healthcare were also trading in green.  The Nifty 50's gains on June 3 were led by financial services and oil and gas firms, which pulled the index lower today.

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Although a majority mark for the NDA coalition, the S&P BSE Sensex and Nifty fell over 4% to the day's low of 73,659.29 and 22,389.85, respectively, on Tuesday. While some sectors held steady, others saw a wild plunge. Early indications suggested an India alliance comeback.

Nifty was down 874 points to 23,263.90, while the Sensex fell 2809 points intraday from Monday's closing of 76,468.78.