FMCG and Oil & Gas Stocks Drive Market Recovery; Nifty Hits Fresh High
Indian equities staged a sharp intraday recovery on June 13, with the Nifty 50 reaching a fresh record high of 23,667.10, buoyed by strong gains in FMCG and oil & gas stocks. The Sensex rebounded nearly 600 points from its intraday low, supported by broad-based buying across key sectors.
The Nifty FMCG index advanced over 1%, reflecting renewed investor confidence in consumer-facing segments amid improving macro indicators. Leading the charge were heavyweight stocks including ITC, Hindustan Unilever, and Nestlé India, which saw increased traction from both retail and institutional investors.
This rally in FMCG counters aligns with optimistic market sentiment around stabilizing food prices and expectations of a normal monsoon—both critical demand drivers for rural consumption and staples. Analysts suggest that sustained rural recovery and moderating inflation could bolster volumes in the upcoming quarters, making the sector a favorable play for portfolio defensiveness and steady cash flows.
Oil & gas stocks also contributed materially to the market’s upward swing, with companies such as ONGC and Reliance Industries posting notable gains. Firm crude oil prices and supportive government policies continue to underpin bullish sentiment across energy and upstream sectors.
Broader market indices mirrored the positive momentum. The Nifty Midcap 100 and Smallcap 100 indices added 0.4% and 0.6% respectively, signaling healthy participation beyond large caps. Overall market breadth remained positive, with advances outnumbering declines on the NSE, indicating improved investor appetite across categories.
From a sectoral standpoint, FMCG’s outperformance reaffirms its resilience amidst ongoing rate-cut expectations and easing inflationary concerns. Consumer brands with strong rural linkages and efficient supply chains are particularly well-positioned to capitalize on shifting consumption trends.
As the benchmark indices touch new highs, industry watchers are closely tracking company earnings, commodity price movements, and monsoon developments—all critical elements influencing FMCG growth trajectories in the coming months.