Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Consumer durable stocks drag markets
Fri, 28 Jan 11:30 am

Indian indices after opening the day in the red slipped further on profit booking in heavy weights over the previous two hours of trade. Stocks from the consumer durable and auto space are trading weak while stocks from the IT space are trading firm.

The BSE-Sensex is down by 209 points while NSE-Nifty is trading 69 points below the dotted line. BSE Midcap and BSE Small cap indices are both down by 2.5%. The rupee is trading at 45.69 to the US dollar.

FMCG stocks are trading weak with Camlin and Dabur leading the pack of losers. However, HUL and Gillette Ltd. are trading strong. Amidst rising input costs, Marico has undertaken several price hikes on its flagship brands Parachute and Saffola. The company has collectively taken a 24% price hike on Parachute over the last two quarters while an additional 8% hike is in the process of being implemented. On Saffola too, the company has hiked the prices by 10-15% over the last two quarters. However, from here on the company has decided to take a hit on margins rather than increasing the product prices and taking a risk of losing market share to rival companies.

It may be noted that the consumer purchases have already been impacted by rising food inflation and if the company decides to further increase prices from current levels, customers may resort to down trading thereby impacting the market share of the company. Hence, it has decided to take a temporary hit on margins in order to keep its market share intact as regaining lost customer is a difficult task than regaining lost margin.

Auto stocks are trading weak led by M&M and Tata Motors. As per a leading financial news company, Tata Motors may expand sales of Nano to Thailand, Sri Lanka and Bangladesh this year. The company is expected to enter these markets one after another. Nano sales are expected to climb to 8,000 to 10,000 units a month soon. It may be noted that the current rate is 6,000 to 7,000 cars a month, up from 509 units sold in November. Sales dipped in November due to increase in price of the unit, long waiting period and concerns regarding fire safety. However, Tata Motors took several measures to boosts sales which have shown positive results. These measures include offering 100% financing to customers who can't afford down payment, doubling of warranty to four years or 60,000 kilometers, running advertisement campaigns and adding sale points. The company also addressed the fire safety concern of the car by offering additional protection in exhaust and electrical systems.

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

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Consumer durable stocks drag markets". Click here!

  

Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

Sensex Crashes 1,800 Points; Nifty Trades Below 14,700 Mark (Today's Market)

Feb 26, 2021 02:30 pm

The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Intraday Trading for a Living(Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021(Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla(Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Feb 26, 2021 (Close)

MARKET STATS