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Realty & capital goods, major losers
Fri, 25 Oct 01:30 pm

Indian share markets slipped deeper into red in the post-noon trading session. Barring IT & FMCG, all the sectoral indices are trading in the red with realty, capital goods and metal stocks being the biggest losers.

BSE-Sensex is down 54 points and NSE-Nifty is trading 21 points down. BSE Mid Cap is trading down 0.5% and BSE Small Cap index is trading down 0.6%. The rupee is trading at 61.6 to the US dollar.

Majority of the food stocks are trading in the green with Agro Tech Foods and ITC and being the major gainers. United Spirits and Tata Coffee are among the few stocks trading in the red. As per a leading financial daily, rural India is witnessing a dramatic shift in its consumption pattern with the addition of chocolates and cream biscuits to the monthly purchase basket. Such products were previously categorized as impulse purchase by marketers. The shift has been on account of growing disposable income in villages led by government-led rural employment schemes as well as growing awareness about these products. According to Nielsen India, the last mile in food consumption is being crossed with urban demand reaching saturation point. Biscuit major Britannia Industries had earlier pointed out that cream & cookie biscuits are growing significantly faster than glucose biscuits in rural markets. To capitalize on the demand, Cadbury India is expanding into villages in nine states by 2015. Britannia stock is currently trading up by 0.5%.

As per a leading financial daily, the Finance Minister has asked financial sector regulators to implement safe-guard measures to protect the country from the adverse impact of roll-back of stimulus measures by the US. The government has finalized plans for the next round of financial sector reforms and has drafted a strategy plan in consultation with regulators to tap global debt funds for raising its foreign exchange reserves. Reportedly, the members of the Financial Stability and Development Council (FSDC) chaired by the Finance Minister have come to the agreement that the impact of tapering would not be significant.

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