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Markets will remain closed on April 17, 2024 on account of Ram Navami.

Indian share markets firm up
Thu, 17 Apr 01:30 pm

Indian share markets continued to soar higher in the post-noon trading session. All the sectoral indices are trading in the green with realty, auto, and oil & gas stocks being the biggest gainers.

BSE-Sensex is up 246 points and NSE-Nifty is trading 50 points up. Both BSE Mid Cap and BSE Small Cap indices are trading up by 1.2% each. The rupee is trading at 60.4 to the US dollar.

Most of the FMCG stocks are trading in the green with Kokyo Camlin and Colgate being the major gainers whereas Marico and Godrej Consumer Products Ltd (GCPL) are among the few stocks trading in the red. As per a leading financial daily, the FMCG industry faced a severe slowdown in 2013 on account of a sharp pullback in the demand for the top five consumer good segments. According to data agency Nielsen, the top five FMCG segments namely biscuits, soap, washing powder, refined oil and salty snacks registered growth of 4%-10% in 2013 as compared to 15%-23% growth in 2012. This dragged down the overall growth of the FMCG industry to 9.4% in 2013, almost half of the 18% growth recorded in 2012. Snacks, packaged atta and rice, chocolates and non-refined oil were among the few segments that have grown by over 20% in 2013 mainly on account of efforts by companies to increase penetration.

All software stocks are trading firm with HCL Infosys and Wipro leading the pack of gainers. As per a leading business daily, India's second largest software major Infosys plans to reorganize and consolidate its data analytics operation as a separate vertical. Currently the company has presence in analytics as a sub operation across its various verticals. It plans to get them together as a separate vertical in order to expedite the process and scale thereby enabling growth. The creation of the data analytics vertical would entail recruitment of personnel in data sciences and statistics. Such move by Infosys is aimed at gaining back its leadership position in the software industry. The consolidation of analytics vertical is on similar line as earlier announced by another IT company, Wipro.

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