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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets slip 
(Tue, 22 Apr 01:30 pm) 
 
Indian share markets pared gains but hovered above the dotted line in the post-noon trading session. Majority of the sectoral indices are trading in the red with metal, FMCG and IT stocks being the biggest losers. Capital goods, oil & gas and consumer durable stocks are trading strong today.

BSE-Sensex is up 3 points while NSE-Nifty is trading down marginally. BSE Mid Cap is trading 0.1% up and BSE Small Cap index is trading up by 0.2%. The rupee is trading at 60.7 to the US dollar.

Majority of the FMCG stocks are trading in the green with Pidilite Industries and Colgate being the major gainers. As per a leading financial daily, FMCG companies are gearing to scale up their presence in rural India amidst concerns of below normal monsoon this year due to the El Nino impact. While private forecaster Skymet has predicted a 40% chance of below-average rain and 25% chance of drought, the Indian Meteorological Department is likely to issue its forecast on 24th April. FMCG companies like Glaxo SmithKline Consumer Healthcare, Dabur, Jyothy Labs and Godrej Consumer Products, that derive a sizeable share of sales from rural markets, are contemplating at launching more low-price packs, stepping up micro-marketing to widen rural penetration and safe-guard against a dip in rural demand. According to market research agency Nielsen, in 2013 rural regions grew by a faster 12.2% as compared to 8% growth clocked by urban India. The overall FMCG growth in 2013 halved to 9% on account of slowdown in discretionary spending.

Automobile stocks are trading mixed with Force Motors and Tube Investments being among major gainers whereas Escorts and Maruti Suzuki are trading in the red. As per a leading financial daily, Hero MotoCorp will be setting up its first manufacturing facility abroad. The company has entered into a 55% joint venture with Bangladesh-based Nitol Niloy Group for retailing its two-wheeler brands in the country. The manufacturing plant will have an annual capacity of 1,50,000 units initially and is likely to commence operations in the second-half of FY16. As per initial plans, at least 11 Hero motorcycle and scooter brands will be marketed in Bangladesh through 50 retail outlets. The two joint-venture partners would be infusing $40 m into the venture over the next five years. Hero MotoCorp stock is presently trading up by 0.7%.

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