The IMD has forecasted above-normal temperatures and heatwave days across India starting in March, following an unusually warm February.
Industries such as air conditioner manufacturers, cool beverage makers, and power companies saw an increase as investors anticipate stronger sales during the upcoming summer season. The surge in stock prices follows the Indian Meteorological Department’s (IMD) forecast of above-normal temperatures and heatwave days across India starting in March, after an unusually warm February.
Indian Meteorological Department (IMD) said: On February 28, they forecasted that both maximum and minimum temperatures are expected to remain above normal benchmarks in March, except in some regions. India is also likely to experience above-normal heatwave days between March and May.
Furthermore, IMD added that Heatwaves present significant risks to vulnerable groups, including the elderly, children, and individuals with pre-existing health conditions, potentially causing heatstroke, dehydration, and putting a strain on infrastructure. Citizens are strongly urged to take preventive measures, such as staying hydrated, avoiding direct sun during peak hours, and seeking cooler environments to minimize the adverse health impacts of heatwaves.
The increase in summer-related stocks pushed the Nifty Consumer Durables index into Bull territory.
The Nifty Consumer Durables Index declined by 1 percent in today’s trade and is currently trading around Rs. 35,266. Over the past four consecutive days, the index has corrected nearly 3.5 percent from its recent low.
Here are some of the stocks to watch in the consumer durables sector:
Amber Enterprises Ltd
The company, which produces complete Room Air Conditioning (RAC) solutions with various specifications and ratings, as well as printed circuit boards (PCBs), has surged by up to 4 percent in the day’s trade.
Whirlpool Ltd
Whirlpool is a leading global manufacturer of home appliances, specializing in products like refrigerators, washing machines, air conditioners, and kitchen appliances, has surged by up to 1.5 percent in the day’s trade.
V-guard Industries Ltd
V-Guard manufactures and markets a wide range of electrical appliances and products, including voltage stabilizers, water heaters, pumps, and consumer electronics, has surged by up to 1.5 percent in the day’s trade.
The rise in summer-related stocks helped the Nifty FMCG index rally
The Nifty FMCG Index rose by 0.1 percent in today’s trade and is currently trading around Rs. 51,891. Over the past three consecutive days, the index has corrected nearly 3.45 percent from its recent low.
Here are some of the stocks to watch in the Fast-moving consumer goods sector:
Varun Beverages Ltd
Varun Beverages Ltd is one of the largest bottling partners of PepsiCo in India and produces a wide range of beverages, including carbonated drinks, juices, and bottled water, has fell by up to 1 percent in the day’s trade.
Hindustan Unilever Ltd
Hindustan Unilever Ltd is one of India’s leading consumer goods companies, with products in categories like home care, personal care, and food & beverages, has fallen by up to 0.4 percent in the day’s trade.
ITC Ltd
ITC Ltd is a diversified conglomerate with business interests in FMCG, hotels, paperboards, packaging, agribusiness, and information technology, has surged by up to 0.5 percent in the day’s trade.
The rise in summer-related stocks helped the Nifty Energy index rally
The Nifty Energy Index rose by 1.15 percent in today’s trade and is currently trading around Rs. 31,788. Over the past three consecutive days, the index has corrected nearly 9 percent from its recent low.
Here are some of the stocks to watch in the Energy sector:
Coal India Ltd
Coal India Ltd is the largest coal-producing company in the world and a major player in the Indian energy sector. It produces and supplies coal to meet the country’s energy requirements, primarily for thermal power generation, has surged by up to 1.75 percent in the day’s trade.
NTPC Ltd
NTPC Ltd is India’s largest state-owned power generation company, engaged in the generation of electricity through coal, gas, hydro, and renewable energy sources, has fallen by up to 2.5 percent in the day’s trade.
Suzlon Energy Ltd
Suzlon Energy Ltd is a leading global renewable energy solutions provider, focusing on wind turbine manufacturing and wind power generation, has surged by up to 9.3 percent in the day’s trade.
Written by Sridhar J
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