The bonanza which the FM gave today morning has sent most of the consumer stocks soaring trough the roof. These fiscal measures are expected to spur consumption as it is assumed that money saved on account of tax cuts will be passed on to the consumers. Also given the fact that monsoon has been good, the theme on the market today is consumer goods stocks.
Look at the stocks which have hit new high today - Bata, HUL, Nestle, D-Mart, Berger Paints, Asian Paints, Colgate-Palmolive, GlaxoSmithKline Consumer Blue Star, Dabur, Whirlpool, Voltas amongst many more. Even Indigo has hit a new high today.
With the markets currently close to recording a jump of almost 2000 points in one single day, it does not come as a surprise that these stocks are on a high.