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Consumer durable & metals shine
Thu, 1 Jan 01:30 pm

Indian share markets continued to remain depressed in the post-noon trading session. Sectoral indices are trading mixed with metal and consumer durables being major gainers. FMCG and banking stocks are the biggest losers today.

BSE-Sensex is down 55 points and NSE-Nifty is trading 18 points down. BSE Mid Cap is trading 0.5% up and BSE Small Cap index is trading up by 1.1%. The rupee is trading at 63.16 to the US dollar.

Credit offtake by industry continues to remain sluggish. As per Reserve Bank of India (RBI), the bank loan growth to industries almost halved from 13.7% in November 2013 to 7.3% in November 2014. The slowdown has been across the board with the exception of construction, beverages & tobacco and mining & quarrying sectors. On the positive front, the credit offtake by agriculture and allied activities almost doubled to 20.2% in November 2014.

Most of the automobile stocks are trading in the green with Force Motors and TVS Motors being the biggest gainers. However, Hero MotoCorp and Mahindra & Mahindra are trading in the red. As per a leading financial daily, Maruti Suzuki reported a 13% YoY increase in passenger car sales to 98,109 units in December 2014. The growth was led by a 23% YoY increase in the sales of compact segment (Swift, Ritz, Celerio, Dzire) to 41,532 units. However, the overall growth was pulled down by a 10% YoY fall in the sales of the mini segment (Alto & WagonR) for the month. Maruti Suzuki stock is trading up 0.5%.

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