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Indian share markets widen losses
Thu, 3 Apr 01:30 pm

Indian share markets continued to slip in the post-noon trading session. Most of the sectoral indices are trading in the red with capital goods, oil & gas and banking stocks being the biggest losers. Pharma, consumer durable and metal are among the few stocks trading in the green.

BSE-Sensex is down 141 points and NSE-Nifty is trading 45 points down. BSE Mid Cap is trading 0.5% down and BSE Small Cap index is trading down by 0.2%. The rupee is trading at 60.1 to the US dollar.

FMCG stocks are trading mixed with Pidilite and Emami being among major gainers whereas Godrej Consumer and Archies are the biggest losers. As per a leading financial daily, Dabur has launched coconut water under its packaged fruit juice brand Real Activ. With this addition, the company wants to expand its fruit-based beverages category to give consumers more choice to make their modern hectic lifestyle healthier. The company will embark upon a 360-degree marketing campaign to promote the new launch. Dabur's food businese segment contributes 10% to overall sales and registered a strong 18% growth in the December 2013 quarter. However, the operating margin of the segment has witnessed erosion due to higher costs of imported fruit concentrates. Dabur stock is trading up 0.6%.

Most of the automobile stocks are trading in the red with Force Motors and Escorts being major losers. As per a leading financial daily, Ashok Leyland has secured a $50 m contract from Zimbabwe. The contract entails supply of 670 vehicles including trucks and buses to the Ministry of Tourism & Hospitality Industry, Zimbabwe. The order is likely to be executed in the current year. Ashok Leyland stock is currently trading down 0.2%.

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