X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Indian share markets widen losses 
(Wed, 14 Jan 01:30 pm) 
 
Indian share markets continued to slip further in the post-noon trading session. Majority of the sectoral indices are trading in the red with metal and FMCG indices being the biggest losers. IT & power are the among the few stocks trading positive today.

BSE-Sensex is down 158 points and NSE-Nifty is trading 45 points down. Both BSE Mid Cap and BSE Small Cap indices are trading down by 0.3%. The rupee is trading at 62.19 to the US dollar.

Majority of the food & tobacco stocks are trading in the red led by ITC and Godfrey Phillips. As per a leading financial daily, the government wants to amend the anti-smoking law. As per the amendment, the government has proposed a ban on the sale of loose cigarettes and raising the age-limit for buying tobacco products from 18 to 21 years. Since a large proportion of cigarettes sold is in the form of loose cigarettes, 70% as per Euromonitor International, the proposed amendment is likely to impact the sale of cigarette companies. In addition, the Health Ministry has suggested that the fine amount on smoking in public places be raised from Rs 200 to Rs 1000 and the designated smoking zones in hotels and restaurants should be removed. The new bill also seeks to increase the fine from Rs 10,000 to Rs 1 lakh in case of violation of the proposed law.

Most of the foreign pharma stocks are trading in the red with Pfizer and Novartis being the biggest losers. As per a leading financial daily, the board of directors of Novartis has given approval for the transfer of its Over the Counter (OTC) business to GlaxosmithKline Consumer Pvt Ltd (GSK) for a consideration of Rs 1.09 bn. The deal is likely to be completed by October subject to various regulatory approvals. Novartis' OTC products include Voltarin, Excedrin and Otrivin. This development comes in the light of the global deal wherein Novartis and GSK were to create a joint venture company in consumer healthcare with GSK having majority control. Novartis' parent company has divested its global OTC business that includes patents, trademarks and R&D assets. Novartis stock is currently trading down 0.7%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian share markets widen losses". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 27, 2017 (Close)

MARKET STATS