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Indian share markets remain in red
Wed, 5 Jun 11:30 am

Indian share markets have remained in red during the previous two hours of trade. realty and oil and gas sectors are leading the gains while information technology and FMCG are facing the maximum selling pressures.

The BSE-Sensex is down by 55 points and NSE-Nifty is down by 21 points. BSE Mid Cap index is down by 0.1% while BSE Small Cap index is up by 0.1%. The rupee is trading at 56.43 to the US dollar.

The FMCG sector continues to deliver a mixed-bag performance in the past two hours of trade. Lakshmi Energy and Emami Ltd. lead the pack of winners, while Archies Ltd., and Godrej Consumer are facing the maximum selling pressures. The country's largest FMCG company, Hindustan Unilever (HUL) joins the Rs 1000-crore plus club with brands such as Dove, Pond's and Clinic Plus surpassing the above mark in term s of annual sales in FY13. These three brands now join the others such as Rin, Surf Excel, Wheel, Brooke Bond, Lux, Lifebuoy and Fair and Lovely in the Rs 1000-crore club that forms more than 60% of HUL's annual sales of Rs 258 bn. With this, HUL has succeeded in recording the highest operating margin for the decade at 20% for FY13. The Management is confident of maintaining the robust growth in sales. HUL's share is trading down by 0.1%.

The PSU banking sector is showing up a mixed performance in the last two hours of trade. The leading gainers are UCO Bank and Syndicate Bank, while the maximum losers are Canara Bank and Corporation Bank. In the private banks space, the leaders are J & K Bank and Karur VYsya Bank, while the maximum losers are ICICI Bank and City Union Bank. The state lender, Bank of Baroda (BOB) on 4th June 2013 has declared a single rate of interest at 10.25% for all its home loan products. According to the bank statement as reported by leading financial daily, the rate revision will be effective from 1st June 2013, and will be applicable to borrowers irrespective of tenure or quantum of loan. This has come in light of initiatives from RBI with respect to monetary policy softening measures starting this calendar year 2013. The largest private sector lender, ICICI Bank witnesses a sharp fall in retail NPAs in FY13 indicating abatement of asset quality pressures for the lender. With the change in asset portfolio mix backed by selective unsecured lending and stringent underwriting norms, ICICI Bank has succeeded in reducing retail NPAs to almost 60% in FY13 from 80% a year ago.

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Mar 16, 2018 (Close)