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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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FMCG, capital goods push indices lower 
(Mon, 7 Jan Closing) 
 
Selling activity intensified during the closing stages of the day. As a result, Indian equity market indices fell further and closed the day considerably in the red. While BSE-Sensex edged lower by around 90 points (down 0.5%), NSE- Nifty suffered reversal to the tune of around 30 points. BSE Mid Cap and BSE Small Cap indices however bucked the trend, edging higher by 0.2% and 0.6% respectively. More than two stocks closed in the red for every Sensex stock that closed higher.

Asian stocks too edged mostly lower whereas Europe is trading mixed currently. The rupee was poised at Rs 55.2 to the dollar at the time of writing.

Sensex, which edged higher by around 1.7% last week, closed lower today amidst profit booking in capital goods and FMCG counters. Realty and banking stocks too came under pressure today. However, we won't be surprised if the index resumes its upward journey for the remainder of the week amidst positive sentiments globally. This should be no reason for a patient long term investor to buy into stocks though. His investment as always needs to be guided by valuation levels and the quality of the business under consideration.

FMCG major Marico closed higher by around 1% on the bourses today. As per reports, the company has received the board of directors' approval for the restructuring of its businesses, corporate entities and organisation, with effect from April 1, 2013. The company felt the need to do so on account of the growing convergence of its businesses in consumer products in India and its international business group. The aim is to continue adding to the group's sustained value creation exercise. The company is present in more than 25 countries and reported revenues to the tune of Rs 40 bn in FY12.

Two wheeler major Bajaj Auto is all set to fire the first salvo of the year in the intensely competitive motorcycles space. As per reports, the company will be unveiling its new 100 cc motorcycle later today. And the company believes that the new bike will be the most technologically advanced 100 cc bike in the country and priced higher than the competition. It should be noted that currently, there are around 13 models in the 100-110 cc space with Mahindra looking to launch one more and Bajaj Auto itself having two offerings. Thus, the market is waiting with bated breath as to what novelty Bajaj Auto has up its sleeve now. The company had earlier reported a rise of 13% in its December month sales excluding exports.

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Sep 22, 2017 11:42 AM

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