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Indian share markets fall
Tue, 23 Dec 01:30 pm

After opening in the green, Indian share markets fell in negative territory in the post-noon trading session. All the sectoral indices are trading in the red with metal and consumer durables being the biggest losers.

BSE-Sensex is down 150 points and NSE-Nifty is trading 45 points down. BSE Mid Cap is trading 0.4% down and BSE Small Cap index is trading down by 0.6%. The rupee is trading at 63.46 to the US dollar.

Majority of the FMCG stocks are trading in the green led by Dabur and Jyothy Laboratories. Marico and Pidilite Industries are among the few stocks trading weak. Market research agency Nielsen, expects the FMCG industry in India to return to double-digit growth trajectory in 2015 on the back of better consumer sentiment and lower inflation. The market agency expects the industry to grow by 7% in 2014 and witness a pick-up thereafter recording growths of 10% and 12% in 2015 and 2016, respectively. Around half of the estimated growth in future will be driven by volumes pointing to a favourable consumption growth. More than 50% of the growth in the FMCG industry in the past six years has been on account of better distribution reach and low unit packs.

Most of the fertilizer stocks are trading negative with Nagarjuna Fertilizers and National Fertilizers being the biggest losers whereas Gujarat State Fertilizers and Godavari Fertilizers are among the few stocks trading in the green. As per a leading daily, Tata Chemicals has embarked upon a restructuring exercise to pare debt. The company is planning to increase turnover of its consumer products business from Rs 10 bn to 40 bn over the next four years. The consumer product segment comprises of salt, pulses, lentils, spices and 'Swach' brand of water purifiers. Reportedly soda ash and fertilizers is still the core business of the company contributing more than 70% to overall revenues. Tata Chemicals stock is presently trading down 1.4%.

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Mar 16, 2018 (Close)