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FMCG, Pharma stocks boost markets
Tue, 30 Jun Closing

The Sensex and the Nifty ended the trading day positive on value-buying by funds and retail investors in select blue chips despite the ongoing Greek crisis after a lackluster day of trading. The BSE-Sensex edged higher by around 136 points and the NSE-Nifty closed higher by 50 points. BSE Mid Cap and BSE Small Cap indices also ended on a positive note, gaining 1.3% and 1% respectively. Barring IT and infrastructure stocks, buying interest was witnessed across majority of the sectors.

European stocks fell again in early trade, extending the previous session's decline as Greece looked set to default on an international loan. Asian markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 5.53% while Hong Kong's Hang Seng is up 1.09% and Japan's Nikkei 225 is up 0.63%. The rupee was trading at 63.69 in the pre-noon session against the US dollar.

Stocks from the automobile sector ended the trading day on an optimistic note with Ashok Leyland and Tata Motors being the most favored. Mahindra and Mahindra (M&M) is reportedly looking for double-digit growth in Africa. In this regard, the company has set up an Africa-focused business unit. With an active presence in 20 African countries, the company is expecting that aggressive expansion will help spur a 10-fold increase in business over the next five to seven years. M&M is the flagship company of the Mahindra group and is one of the leading auto companies in India. M&M ended the day down 0.3%.

Telecom Stocks were in demand today. Idea cellular was the leading gainer. According to a leading financial daily, Bharti Airtel has become the third largest mobile operator in the world in terms of subscribers. Reportedly, Airtel with over 303 m mobile subscribers across its operations has moved up one position in the global rankings. The company's mobile networks cover over 1.85 bn people across its operations in 20 countries and carried over 1.23 trillion minutes of calls and over 333 petabytes of data in FY 2014-15. In India, its distribution channel is spread across 1.5 m outlets, with network presence in 5,121 census and 464,045 towns and villages covering approximately 86.8% of the country's population. Airtel has the largest rural mobile customer base in India with over 100 m mobile customers. Bharti Airtel ended the day up 1.55%

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Mar 22, 2018 11:47 AM