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BUZZ-Indian consumer stocks gain ahead of key GST council meeting

Reuters
Aug 29
BUZZ-Indian consumer stocks gain ahead of key GST council meeting

** Indian consumer goods stocks .NIFTYFMCG climb about 1%; benchmark Nifty 50 .NSEI trading flat

** Twelve of 15 stocks on sub-index gain; Colgate-Palmolive India's COLG.NS 3.6% climb the biggest

** Britannia BRIT.NS, United Spirits UNSP.NS climb about 2% each, Marico MRCO.NS, ITC ITC.NS and Dabur DABU.NS up around 1.5% each

** Sectoral advance comes ahead of GST council's meeting next week where sweeping tax cuts to support the economy will be discussed

** FMCG stocks jumped nearly 2% on August 18 in market's first reaction to GST reforms announced by Prime Minister Narendra Modi

** YTD, FMCG index down 2% vs Nifty's 3.6% climb

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))

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