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Lower GST rates catapults FMCG to record high

By smriti sahu | 5/19/2017 6:00 PM Friday

The GST Council has set GST rates for more than 1200 items at its meeting held in Srinagar on Thursday. The GST Council meet outcome has largely benefited the fast-moving consumer goods (FMCG) companies. The tax rate on products like hair oil, soap and toothpaste has been reduced to 18 per cent from the current 22-24 per cent. The decrease in tax rates under GST has made FMCG stocks to hit record high.

The finalization of GST rates had a positive impact on the markets and the gains are expected to continue. About 81% of the goods are likely to be taxed at 18% or below. All capital and intermediate goods will be in the 18% tax slab, which is lower than the current 28%, while sugar, tea, coffee and edible oil will be taxed at 5%.

There are several items of daily use which will be exempted from the GST, including items such as milk, fruits, vegetables, cereals and foodgrains. This may cause some downward movement in the inflation rate post implementation of GST.

On Friday, S&P BSE FMCG index closed at 9627.43, up by 176.12 points or 1.86%.

 

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DSIJ Mindshare

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Five stocks with buying interest

Overall volumes in futures & options currently stand at 48.94 lakh contracts with a turnover of Rs. 4,31,171 crore.

Index trend and stocks in action September 21, 2017

Index trend and stocks in action September 21, 2017

However, if this support zone is breached, selling pressure may intensify in that case supports are seen around 10,080 and 10,040 levels. On the upside, the level of 10,180 is a key resistance level. 

Markets are likely to make a soft-to-cautious start

Markets are likely to make a soft-to-cautious start

Domestic markets are likely to make a soft to cautious start on sluggish global cues. The Nifty futures on the Singapore Exchange were trading at 10,147 lower by 21 points.  

Tyre stocks gain as MoF imposes anti-dumping duty on Chinese TBRs

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The Ministry of Finance has imposed anti-dumping duty on truck and bus radials (TBR) from China, which lifted tyre stocks in early trade today.

Ten stocks close to their 52-week low

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Following stocks are close to their 52-week low as at 12.47 p.m. on September 20.

Ten stocks close to their 52-week high

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The markets on September 20 opened up. BSE Sensex is trading at 32,404.86, up by 2.49 points and the Nifty is trading at 10,144.75, down by 2.80 points.

Five stocks with buying interest

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Overall volumes in futures & options currently stand at 44.21 lakh contracts with a turnover of Rs. 3,80,640.95 crore.

Index trend and stocks in action September 20, 2017

Index trend and stocks in action September 20, 2017

Whereas, on the downside, the gap area of 10,115-10,131 may act as a strong support in the coming days, however, if this support is breached than selling pressure may be seen in this case nifty may fall up to levels of 10,080 and 10,040. 

Markets may open slightly lower

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Indian shares are likely to witness a muted opening as the Asian markets trade on a subdued note. The Nifty futures on the Singapore Exchange were trading at 10,156 with losses of 11 points, indicating a muted opening. 

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