Moneycontrol
Last Updated : Jul 23, 2018 10:14 AM IST | Source: Moneycontrol.com

D-street Buzz: Consumer durable stocks gain post GST rate cut; FMCG gains 2%, IT stocks down

Share including Blue Star, Voltas, Bajaj Electricals, Symphony, Whirlpool, Havells, Kansai Neroloc, Asian Paints and Berger Paints were trading higher with 5-8 percent gain.

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The market is trading higher with the Nifty trading well above 11,000-mark. The Sensex is up 123.99 points at 36,620, and the Nifty up 38.90 points at 11,049.

Shares of consumer durable stocks were trading higher in early trade on Monday on the back Goods and Services Tax (GST) Council decision to slash rates on a host of items in its Saturday meeting.

Share including Blue Star, Voltas, Bajaj Electricals, Symphony, Whirlpool, Havells, Kansai Neroloc, Asian Paints and Berger Paints were trading higher with 5-8 percent gain.

Midcap and smallcap stocks trading higher with 0.5 percent gain. Among the sectors, FMCG stocks rose more than 2 percent, while IT, Pharma and auto were trading lower.

Among the FMCG space, ITC gained 4 percent, followed by Godrej Consumer, P&G, United Spirits, United Breweries, HUL, Dabur and Britannia.

On the other hand, Nifty IT was down 0.7 percent with Mindtree, Wipro down 3 percent, Tata Elxsi, Tech Mahindra, Infosys and Infibeam are other losers.

In the midcap space, Havells India up 8 percent, GRUH Finance 3 percent, L&T Finance up 5 percent, UPL up 5.5 percent and Vakrangee up 5 percent.

ITC, Asian Paints, Adani Ports, Bharti Airtel, NTPC are the top gainers on the Sensex, while losers are Wipro, Hero Motocorp, Bajaj Auto, HDFC Bank and Infosys.

The breadth of the market favoured advances, with 1002 stocks advancing, 593 declining and 463 remaining unchanged. On BSE, 1154 stocks advanced, 682 declined and 80 remained unchanged.
First Published on Jul 23, 2018 10:14 am
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