Dealing Room Check:- FMCG shares showed strength today in a weak market. Nifty FMCG index rose more than one percent. Colgate, Marico and Godrej Consumer were seen trading up by 3 to 4%. The maximum pressure was seen in government companies, banks, realty, and metal pharma. Due to increase in the prices of important refrigerant gases in America, there was a stormy rise in SRF and new fluorine. Both the shares rose more than 10% to become the top gainers in futures. Strong growth was also seen in city gas distribution companies today. MGL shares saw a rise of 3% while IGL saw a rise of 5%. Here the dealers today ABFRL and Godrej Consumer Advised his clients to bet in the shares of Rs.
CNBC-Awaaz’s Yatin Mota, quoting sources in the dealing rooms, said that today dealers have purchased shares of the Birla Group company. Dealers have advised their clients to buy shares of ABFRL. According to dealers, HNIs have bought shares. Dealers have advised to buy BTST in stock i.e. today and sell tomorrow. Dealers have given targets of Rs 282-285 for the stock. Dealers say that its OI increased by 4% and fresh buying has been seen in the stock.
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As for other stocks, dealers today gave bullish opinion on FMCG sector shares. Yatin Mota said that dealers have advised to buy shares of Godrej Consumer. According to dealers, domestic funds have bought this stock. Dealers have expected a target of Rs 1200-1225 on this stock. Dealers say that there have been fresh purchases in the counter in the January series.
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