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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Banking & Energy propel markets 
(Mon, 24 Mar 01:30 pm) 
 
Indian share markets surged ahead in the post-noon trading session. Barring consumer durables and pharma, all the sectoral indices are trading in the green with banking, oil and gas and realty stocks being the biggest gainers.

BSE-Sensex is up 314 points and NSE-Nifty is trading 94 points up. BSE Mid Cap is trading 0.3% up and BSE Small Cap index is trading up by 0.4%. The rupee is trading at 60.7 to the US dollar.

Most of the retail stocks are trading in the red with Koutons Retail and Shoppers Stop being the biggest losers. As per a leading financial daily, Titan Industries wants to expand its market size two-and-half folds over the next five years. The company, that sells its jewellery under the Tanishq brand, is outlining its expansion by venturing into unexplored markets through network expansion and new design launches. Titan Industries reported jewellery sales of Rs 80 bn in FY13, constituting 4% of the estimated size of Rs 2.4 trillion of the jewellery market in India. The company is targeting the middle class that are increasingly buying branded jewellery. Titan currently has a network of 150 shops and three manufacturing plants at Pantnagar(Uttarakhand), Dehradun(Uttarakhand) and Hosur(Tamil Nadu). The curbs on gold imports have pulled up the company's financing cost from 3% to 5%. Titan's stock is currently trading down by 0.5%.

Majority of the FMCG stocks are trading in the red with Godrej Consumer and Emami being major losers. As per a leading financial daily, cost cutting measures by FMCG companies amidst slowdown in consumer demand led to fewer products being launched in 2013. As per research firm, IMRB, growth in product launches in fast moving consumer goods space slowed down to 5% in 2013 as compared to 35% in 2012. While categories such as tea, breakfast, cereals, hair products, washing powders and noodles saw fewer launches, skincare and oral care products reported higher launches during the year. In an inflationary environment even as companies have increased brand investments and offered promotional offers and price cuts to prop up volumes, companies have postponed new launches to keep expenses low. Dabur restricted its new products Real drinking yogurt and premium chywanprash Ratnaprash to select markets instead of a national rollout.

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