Chemicals Stocks Rally: The Indian Stock Market may be trading with a decline in the session of Thursday 9 January 2025. But there is a strong rise in the Chemicals Sector Stocks in today’s session. There is a possibility that anti-dumping duty can be imposed on specialty chemicals. Also, there is a huge jump in the global refrigerant merchandise gas prices, due to which the stocks of chemical companies like SRF to Navin Fluorine are trading with a rise of up to 14 percent. This gas is used by ventilation and air conditioning companies.
Strong rise in shares of SRF and Navin Fluorine
BSE Sensex is trading with a fall of 500 and Nifty by more than 150 points. The mood of the market has deteriorated for the last several sessions. Despite this, in today’s session, SRF shares are trading at Rs 2645 with a rise of 12.52 percent. There is also a strong rise in the shares of Navin Fluorine and the company’s stock is trading at Rs 3858 with a jump of 10.56 percent.
Alkyl Amines and Balaji Amines gained momentum
Among other chemicals sector shares, Alkyl Amines shares are trading at Rs 1929 with a jump of 11 per cent, Balaji Amines shares are trading at Rs 1926 with a jump of 10.63 per cent. Shares of Aarti Industries are trading at Rs 411 with a gain of 3.28 percent, FOSECO India is trading at Rs 4217 with a gain of 5.95 percent, Fine Organic Industries is trading at Rs 4585 with a gain of 2.38 percent. Apart from this, there is a strong rise in the stocks of BASF India and Clean Science and Technology.
Chemicals stocks shine due to recovery in China’s economy
Brokerage house JF Financial has said in its report that a strong recovery in the sales of chemicals companies is expected in the third quarter of the financial year 2024-25, due to which the revenue of these companies is going to increase. There is a possibility of recovery in China’s economy as well, which Indian chemicals companies can benefit from.
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