Fast-moving consumer goods (FMCG) stocks have largely underperformed so far in 2024 due to weak base rural demand, adverse weather conditions, and lower agri-production growth. High commodity prices have also played a spoilsport for the sector dependent on raw materials–either manufactured domestically or imported. Coming to equities, FMCG majors Hindustan Unilever Ltd (HUL) and Asian Paints have emerged as the top Sensex losers in the first six months of 2024.
