The BSE-Sensex is trading down by 87 points and NSE-Nifty is trading weak by 26 points. BSE Mid cap and BSE Small cap indices are trading down by 0.2 % and 0.4% respectively. The rupee is trading at 53.39 to the US dollar.
Food stocks are trading in the red led by Sterling Biotech and Wadala Commodities. As per a leading daily, tobacco major ITC has raised the prices of its Gold Flake Kings cigarettes from Rs 48 for a pack of 10 to Rs 55 for the same. This hike of almost 15% would effectively mean that every cigarette is costlier by Rs 1. ITC is anticipating a hike in excise duty of cigarettes and has thus affected this increase in price. In the recent past, the tobacco company raised prices of its other brands Capstan, Scissors, Berkeley and Wills Flake Filter. All these hikes are being taken with the aim of protecting the profit margins.