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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Banking & engineering, major gainers 
(Tue, 18 Feb 01:30 pm) 
 
Indian share markets continued to climb higher in the post-noon trading session. All the sectoral indices are trading in the green with banking, capital goods and metal stocks being the biggest gainers.

BSE-Sensex is up 191 points and NSE-Nifty is trading 59 points up. Both BSE Mid Cap and BSE Small Cap indices are trading up 0.7% each. The rupee is trading at 62.1 to the US dollar.

FMCG stocks are trading mixed with Procter & Gamble Hygiene & Healthcare and Godrej Consumer Products being the biggest gainers whereas Marico and Gillette are among major losers. As per a leading financial daily in the interim budget 2014-15, the import duty on industrial fatty acids and oleochemicals has been slashed from 30% to 7.5%. These industrial chemicals form 20%-35% of the input costs of soap & detergent companies. Reportedly less than 15% of the total requirement is imported by companies. The duty cut is expected to mitigate the impact of weak rupee in pushing up costs of imported inputs and thereby improve profitability of FMCG companies such as Hindustan Unilever, Godrej Consumer Products and ITC.

Automobiles stocks are trading mixed today. With Maruti and Ashok Leyland are trading on positive note, Bajaj Auto is trading lower. In the interim budget 2014-15, the Finance Minister has cut the excise duty in the range of 3 to 6 percent across vehicle segments. The excise duty on small cars, scooters, motorcycles and commercial vehicles has been reduced from 12% to 8%. The excise duty on mid-sized cars has been cut from 24% to 20% whereas the duty on large cars has been slashed from 27% to 24% with SUVs now attracting duty of 24% as compared to 30% earlier. Tata Motors and General Motors India have decided to pass on the benefit of reduced excise duty to customers on new dispatches. However, the companies are yet to work out the exact amount of price reduction across car segments. The price reduction in cars would boost consumer sentiment and help auto companies garner volumes which have been sluggish due to economic slowdown.

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S&P BSE FMCG


Jul 24, 2017 (Close)

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