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Indian share markets slip further
Tue, 2 Dec 01:30 pm

With RBI maintaining status quo at its monthly policy review, Indian share markets slipped deeper in the red in the post-noon trading session. Sectoral indices are trading mixed with metal and pharma being the biggest gainers. Auto and IT stocks are the biggest losers today.

BSE-Sensex is down 114 points and NSE-Nifty is trading 38 points down. BSE Mid Cap is trading 0.4% up and BSE Small Cap index is trading up by 0.1%. The rupee is trading at 61.93 to the US dollar.

Most of the domestic pharma stocks are trading in the green led by Wockhardt and Cadila Healthcare. As per a leading financial daily, Ranbaxy has introduced the first biosimilar version of a drug used for the treatment of various conditions including rheumatoid arthritis in the Indian markets. The drug Infimab which is the biosimilar version of Johnson and Johnson's Remicade has been launched through a licensing partnership with Epirus Pharmaceuticals. The drug will be manufactured by Reliance Life Sciences at its Mumbai facility. Ranbaxy stock is trading marginally up.

Majority of the FMCG stocks are trading in the green with Lakshmi Energy and Marico being the major gainers whereas Pidilite and Emami are trading in the red. As per research agency Nielsen, private label brands offered by retailers are slowly gaining acceptance. Private labels in FMCG grew by 27% during the period 2012 and September 2014. About 5% of all modern trade sales comes from private labels whereas modern trade channel accounts for 9% of the overall FMCG industry in India. Private label brands not only offer a cheaper alternative but they also coax consumers to upgrade from loose to packaged products. Private label brands in India mostly succeed in commodity-driven, high-purchase items such as ghee, rice and wheat flour. As per Nielsen, with private label brands gaining traction, established brands should increase focus on innovation to differentiate and prevent shoppers from switching.

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Feb 24, 2021 (Close)