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Markets slip in last hour of trade
Mon, 16 Dec Closing

The Indian equity markets witnessed selling pressures in the last hour of the trade session today with the jump in wholesale price inflation number to 7.52%. Moreover, the markets also reacted to the anticipated rate hike in the upcoming monetary policy by the Reserve Bank of India to combat soaring prices. The IT and consumer durables stocks have fared well and stocks from Oil and Gas and auto sectors have witnessed maximum selling pressures. The BSE Mid Cap and BSE Small Cap indices have outperformed today and stood higher by 0.29% and 0.40% respectively. The BSE Sensex closed lower by 56 points and the NSE-Nifty was seen down by 15 points.On the global front, most of the Asian indices closed the day on a weak note but the European indices have opened on an optimistic note. The rupee was trading at Rs 61.98 to the dollar at the time of writing.The stocks in the FMCG sector closed the day on a mixed note today with P& G Hygiene and Kokuyo Camlin leading the gainers and Godrej Consumers and Pidilite Industries leading the losers.. As per a financial daily, the FMCG giant Godrej Consumer aims to grow 10 times in the next 10 years. The management also believes that the economic slowdown is behind us and the urban as well as rural demand is expected to pick up strong going forward. With this, the FMCG sector will continue to maintain its upbeat momentum. And so would Godrej Consumer Products Ltd. The company's domestic business recorded 17% YoY growth during 2QFY14 and globally it clocked a consolidated sales growth of 23% YoY. Moreover, the company is sanguine about maintaining margins on account of heavy advertising spend that is expected to drive the growth. The company has also bought 30% stake in the salon business of B Blunt to boost its hair color business. While the ad-spends and wage costs remain high, the earnings could possibly come under pressure for the company.

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