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FMCG pack solely opens in the red
Thu, 19 Feb 09:30 am

The major Asian stock markets have opened the day on a strong note with Japan (up 0.48%) leading the pack of gainers. The Indian markets have opened on a positive note too. Consumer durables and realty stocks are leading the pack of gainers while FMCG pack is the only one which has opened the day in the red.

BSE-Sensex is currently trading up by about 94 points (up 0.32%), while the NSE-Nifty is higher by about 19 points (up 0.17%). Both BSE Mid Cap and BSE Small Cap indices have also opened the day in green, up by 0.59% and 0.63% respectively. The rupee was trading at Rs 62.34 to the dollar at the time of writing.

As per a leading financial daily, Reserve Bank of India (RBI) has permitted nominated banks to provide gold on loan to jewellers. It is to be noted that domestic jewellers were facing liquidity constraints for the past one and half years as it was mandatory for them to make the full payment for the gold purchased due to the restrictions imposed on gold imports. According to All India Gem and Jewellery Trade Federation, the present move is likely to bring down the funding cost for jewellers as gold will be made available to them on loan by just giving bank guarantee. In addition, RBI has clarified that there would be no restrictions on the import of gold coins.

As per a leading financial daily, Lupin has launched a new version of the asthama delivery device InspiraChamber anti-static valved holding chamber (VHC) in the US market. The launch has been under a strategic licensing agreement with New Jersey-based respiratory research and development company InspiRX Inc. The launch marks Lupin's entry into the larger US inhalation and related markets. The product will be marketed along with other Lupin brands, including Suprax, Alinia for Oral suspension, Locoid Lotion and Antara.

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