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Indian stock markets hold on to gains
Mon, 26 Dec 01:30 pm

Indian stock market indices sustained gains in the last two hours of trade. All sectoral indices are trading in the green with IT and capital goods stocks leading the pack of gainers.

The BSE-Sensex and NSE-Nifty are trading up by 217 points and 62 points respectively. BSE Mid Cap and BSE Small Cap indices are trading strong by 0.8% and 1.0% respectively. The rupee is trading at 52.75 to the US dollar.

The stocks from the FMCG sector are mainly trading in the green led by Henkel India and Camlin Ltd. The growing importance of modern-retail format is slowly attracting small and regional FMCG brands. As per a leading financial daily, ayurvedic products maker Baidyanath Ayurvedic Bhawan has tied up with the Future Supply Chain to increase its presence in more than 2,000 outlets. The company's ayurvedic products face competition from the likes of Dabur and Emami. Regional brands such as Nilon's pickles and Wagh Bakri tea have more than trebled their revenue shares from organised retail to 15% and 30% respectively. Even brands such as Super-Max shaving products, Dukes biscuits and Jyothy Labs have garnered sizeable market shares in the modern retail format. This augurs well for the retail industry as FMCG companies increasingly make use of this format to push their products.

Stocks from the Energy sector are trading mixed with Essar Oil and Cairn India India leading the gainers and Indian Oil Corporation (IOC) and Gujarat State Petronet Ltd trading the weakest. As per a leading financial daily, Gail has outlined plans to set up RLNG (re-gasified liquefied natural gas) terminal in the Krishna-Godavari Basin. As per the management, it will start with establishing a floating terminal, followed by a land based terminal in Andhra Pradesh through Andhra Pradesh Gas Distribution Corporation (APGDC), in which GAIL has 50% equity stake. The terminal is expected to ensure steady gas supplies to industries in the state. The PCPIR (Petroleum, Chemicals and Petrochemicals Investment Region) which is to be established along the Vizag-Kakinada corridor is expected to be one of the biggest beneficiaries of the terminal gas supplies. The project has got State Government's backing in the form of technical support, land and other clearances. The stock was trading in the green.

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