With all-round selling pressure on weak global cues, Indian share markets remained depressed in the post-noon trading session. All the sectoral indices are trading in the red with realty, metal and banking stocks being the biggest losers.
Majority of the FMCG stocks are trading in the red with Marico and Godrej Consumer being the biggest losers. As per a leading financial daily, Dabur's Nepal subsidiary has partnered with International Centre for Integrated Mountain Development (ICIMOD) to establish a garden for the promotion of herb-based medicinal and aromatic plants from the Hindu Kush Himalayan region. The partnership which is for a five year period will establish a garden at ICIMOD Knowledge Park at Godavari, near Kathmandu. As per the agreement, Dabur Nepal will provide initial establishment costs, technical assistance, planting materials and maintenance whereas ICIMOD will provide space for the garden. Dabur Nepal produces soft drink and herbal cosmetic products. Dabur stock is currently down 1.7%.
Majority of the Power stocks are trading in red with Reliance Power and Jaiprakash Associates being the biggest losers. As per a financial daily, India's largest power producer National Thermal Power Corporation (NTPC) has scrapped its bond sale which was scheduled today. Reportedly, this step was taken after a sell-off in the government bonds had caused worries about the pricing of its debt. This is evident, as the trading in government bonds was halted earlier, after yields hit their upper circuits on account of global risk in the wake of the Federal Reserve's comments on narrowing the stimulus programme. NTPC was planning to raise approx Rs 10 bn through an issue of dual trance bonds. The stock of NTPC is trading down by 3.8%.