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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets remain weak 
(Tue, 4 Feb 01:30 pm) 
 
Indian share markets continued to trade below the dotted line in the post-noon trading session. Barring consumer durable, banking and power, all the sectoral indices are trading in the red with IT, metal and oil & gas stocks being the biggest losers.

BSE-Sensex is down 91 points and NSE-Nifty is trading 25 points down. While BSE Mid Cap is trading marginally up, BSE Small Cap index is trading down by 0.1%. The rupee is trading at 62.6 to the US dollar.

Majority of the FMCG stocks are trading in the green with P&G Hygiene and Marico being among major gainers whereas Godrej Consumer Products (GCPL)and Dabur are among the biggest losers. As per a leading financial daily, GCPL announced its results for the quarter ended December 2013. The company's consolidated sales grew by 17% YoY backed by 13% YoY growth in domestic FMCG business and 22% YoY increase in international operations. Among product segments, the hair colour business was the growth driver registering a strong growth of 37% YoY. Even the liquid detergents business grew by 36% YoY during the quarter. The household insecticide business grew by a sluggish 8% YoY due to weak monsoon in South and East India. The soap business continued to grow at a tepid pace of 6% YoY. The operating margin contracted by 1.1% YoY to 15.7% due to firm input costs and high ad-spends. However at the net level, the extent of contraction has been limited to 0.3% to 9.9% due to a 17% YoY reduction in tax outgo. GCPL's stock is trading down 1.9%.

Automobile stocks are trading on a mixed note. The stock of TVS Motors and Tata Motors are trading firm, while Mahindra & Mahindra (M&M) is trading low. As per a leading business daily, M&M plans to develop quadricycle in order to compete with Bajaj Auto's RE60. Although the final guidelines and policy frame work from government is yet to come out, M&M has started developing vehicle for the segment on its own. The company has been overseeing various opportunities for catering to the new segments and verticals in order to widen its product offerings. The four wheeler quadricycle is considered to be safer and better alternative to traditional three wheelers auto rickshaw. It would be used for transport purpose not personal and is considered to be quiet cheaper than car on account of its low weight, length, power and speed.

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