Fertiliser, FMCG shares push higher on rain forecast

Fertiliser and FMCG shares rallied up to 7 per cent today after the IMD said monsoon rainfall will be higher than earlier forecast, which means more disposable income in rural areas.
The scrip of Rashtriya Chemicals and Fertilizers soared 6.89 per cent, Fertilisers, Chambal Fertilisers and Chemicals 6.89 per cent and Fertilisers and Chemicals Travancore (FACT) 3.81 per cent on the BSE.
EID Parry gained 5.14 per cent, HUL 4.60 per cent, Marico 4.23 per cent and Britannia Industries 3.60 per cent.
"A good monsoon will raise the prospects of the Indian economy, especially for FMCG and consumer durables sectors," said Vinod Nair, Head of Research, Geojit Financial Services.

The Sensex soared 314.92 points, or 1.05 per cent, to end at 30,248.17, a record high.