Financial stocks powered up Indian blue-chip indices on Thursday, taking them to all-time highs. Short-term moving averages are expected to support the indices on any decline. Nifty formed a long bull candle on the daily chart. The MACD showed bearish signs on the counters of Vadilal Industries, Bharat Rasayan, Godrej Properties, Maithan Alloys, Mrs Bectors Food Specialities, Astral, and Ajanta Pharma.
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Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period.
Brokerages estimate top-line growth to be in low single digits in the quarter.
Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.