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Indian stock markets trade strong
Mon, 21 May 11:30 am

Indian stock market indices continue to trade strong over the last two hours of trade on back of heavy buying activity witnessed across industry heavyweights. Power and Realty stocks witnessed maximum buying interest while IT and FMCG stocks witnessed maximum selling pressure.

The BSE-Sensex is up by 77 points, while the NSE-Nifty is up by 25 points. BSE Mid Cap index and the BSE Small Cap index are up by 0.66% and 1.04%. The rupee is trading at 54.70 to the US dollar.

Indian pharma stocks are trading mixed. Fresensius Kabi Onco. And Orchid Chemicals are the top gainers while Panacea Biotech and Biocon are losing the maximum. As per a leading daily, Glenmark Pharma is adopting a strategy to tap niche segments instead of the regular generics in the US markets. Glenmark wants to focus on segments like dermatology, hormones, oral contraceptives and substances and modified release categories. The pharma company has plans to launch 10 products in the US during the current financial year.

Food stocks are trading in the green led by Wadala Commodities and Lakshmi Energy. As per a leading daily, food companies like Pepsi, GSK Consumer Healthcare and Marico are planning to revive their snacks portfolio soon. As per a market research report, 27% of the packaged food market in India consists of health and wellness products. The companies seem to be working towards making most of this growing opportunity. Britannia and Pepsi Co. are claiming that their recently launched products have been well received in Indian markets. In such an event, early entrants like GSK and Marico too want to revive products.

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