FMCG
Stocks Outlook for the week – 12 to 16.01.2015
( www.rupeedesk.in )
Stockss of fast moving consumer goods companies are seen trading
rangebound next week amid lack of major triggers. Hindustan Unilever might witness mild
profit booking after a 14% rise this week, but the overall outlook for the stock remains firm.
The BSE FMCG Index rose 0.7% this week on the back of sharp gains in
the heavyweight HUL stock. HUL shares soared after four brokerages upgraded the stock and
raised its price targets due to pickup in consumer demand and fall in input costs. Meanwhile,
ITC is likely to continue trading in the 345-370 rupees range in the coming week,.
Overall, the sector looks promising in the long term, but next week
only a news-driven stockspecific movement is likely, with the broader market
also expected to consolidate.
The National Stock Exchange's Nifty is seen drawing support at
8151-8167 levels, and facing resistance at 8320 and 8380. Indices are most likely to stay
rangebound.
On the macroeconomic factors, markets will eye the index of industrial
production, Consumer Price Index-based inflation and Wholesale Price Index-based inflation
data due next week.
