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Indian share markets remain in red
Tue, 11 Jun 11:30 am

Indian share markets have slipped in red during the previous two hours of trade. While software and healthcare are leading the pack of winners, realty and metals are facing the maximum selling pressures.

The BSE-Sensex is down by 182 points and NSE-Nifty is down by 57 points. BSE Mid Cap and BSE Small Cap indices, both, are down by 1.2%. The rupee is trading at 58.71 to the US dollar.

Most of the FMCG shares are trading in red barring few with Lakshmi Eneregy and Gillette India leading the gains while Kokuyo Camlin and Emami Ltd are facing the maximum selling pressures. According to a leading financial news medium, Dabur, the FMCG major is all set to expand its skin care portfolio with the launch of gel-based facial bleach in the country. The product titled "Oxy Life Gel Bleach with Aloe Vera" has been developed after much research by the Dabur Research and Development Centre. The management is confident that this product launch will bolster its leadership position in the Rs 3 bn skin bleach market setting new benchmarks for growth prospects. The Oxy Life Gel Bleach would be available in retail market as well as for parlor use in the packet sizes of 8 gm, 24 gm and 330 gm priced at Rs 35, Rs 80 and Rs 375 respectively. This stands as a positive move for Dabur with respect to its product portfolio enhancement. Dabur's share is trading down by 0.07%.

Indian Pharma shares are trading on a mixed note with Elder Pharma and Divis Laboratories leading the gains while Orchid Chemicals and Wockhardt Ltd. are leading the losses. According to a leading financial news daily, the Indian pharma giant, Ranbaxy Laboratories has cleared the US Food and Drugs Administration (FDA) test before import alert. The FDA did not find any failures in the tests performed. In early 2008, FDA had imposed import alerts on Ranbaxy's key Indian facilities namely; Paonta Sahib, Batamandi and Dewas, barring the importation of active pharmaceutical ingredients and finished drug products from these facilities. With respect to the fraudulent statements made in the past to FDA pertaining to drug testing and data for gaining product approvals, the company recently, in May 2013, pleaded for guilty to US authorities. Back home in India, this development proved to be a huge setback with various hospitals and pharmacies reluctant to prescribe the medicines manufactured by Ranbaxy. Ranbaxy's share is trading up by 1.1%.

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