FMCG Stocks Outlook for the week – 06.10.03.2017
FMCG Stocks Outlook for the week – 06.10.03.2017
( www.rupeedesk.in )
The shares of most fast-moving consumer goods companies are seen rising marginally next week, as
trend in the broad market is expected to be bullish. However, on Monday, domestic share indices will
take cues from US Federal Reserve Chair Janet Yellen's speech in Chicago, due later today. Yellen is
expected to provide cues on whether or not the US Fed will raise interest rates this month.
The US central bank will meet on Mar 14-15 for its monetary policy review, which will be closely
monitored by the Indian market. The Nifty FMCG index witnessed marginal profit booking this week and closed slightly lower, in line with benchmark indices. Traders can consider fresh buying in select counters like Jubilant FoodWorks, Hindustan Unilever, and Britannia Industries. Another positive factor is that companies in the sector, despite being faced with demonetisation, have largely been able to endure the phase. A lower-than-expected drop in volumes post the currency ban is seen taking negative pressure off in the near term. ITC will be watched keenly next week as the stock ended lower today, on reports that the goods and services tax levy may go up to 40% for de-merit products such as tobacco--the GST Council has proposed raising the peak tax rate in the Bill to 20% from the current 14%. After a slight fall this week, Hindustan Unilever's stock found support and rebounded with an increase in volumes. It shows the stock's potential to remain upwards in the near term.
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FMCG Stocks Outlook for the week – 06.10.03.2017
( www.rupeedesk.in )
The shares of most fast-moving consumer goods companies are seen rising marginally next week, as
trend in the broad market is expected to be bullish. However, on Monday, domestic share indices will
take cues from US Federal Reserve Chair Janet Yellen's speech in Chicago, due later today. Yellen is
expected to provide cues on whether or not the US Fed will raise interest rates this month.
The US central bank will meet on Mar 14-15 for its monetary policy review, which will be closely
monitored by the Indian market. The Nifty FMCG index witnessed marginal profit booking this week and closed slightly lower, in line with benchmark indices. Traders can consider fresh buying in select counters like Jubilant FoodWorks, Hindustan Unilever, and Britannia Industries. Another positive factor is that companies in the sector, despite being faced with demonetisation, have largely been able to endure the phase. A lower-than-expected drop in volumes post the currency ban is seen taking negative pressure off in the near term. ITC will be watched keenly next week as the stock ended lower today, on reports that the goods and services tax levy may go up to 40% for de-merit products such as tobacco--the GST Council has proposed raising the peak tax rate in the Bill to 20% from the current 14%. After a slight fall this week, Hindustan Unilever's stock found support and rebounded with an increase in volumes. It shows the stock's potential to remain upwards in the near term.
