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Indian markets in red
Thu, 9 Jul 01:30 pm

Indian Indices are trading on a negative note in the post noon trading session. Sectoral indices are trading mixed with stocks from the engineering<.a>, auto and telecom sectors leading the gains. However, mining and software stocks are trading in the red.

The BSE-Sensex is trading down by 57 (down 0.2%) and the NSE-Nifty is trading down by 21 points (down 0.3%). The BSE Mid Cap index and the BSE Small Cap indices are trading marginally up. Gold prices, per 10 grams, are trading at Rs 26,170 levels. Silver price, per kilogram, is trading at Rs 35,420 levels. Crude oil is trading at Rs 3,336 per barrel. The rupee is trading at 63.51 to the US dollar.

FMCG stocks are trading on a mixed note with Emami Ltd and Pidilite Industries being the major losers. According to financial times, FMCG companies have reported a decline in average sales growth by almost 9% in 2014-15. This fall, as reported, was attributed to increase in their spending on advertisement and sales promotion which witnessed a rise of 10% during the year. Among companies, Hindustan Unilever (HUL) reported a jump of 7.3% in ad spend at Rs 39.4 bn. Emami saw its ad spend rise by 41% to Rs 3.9 bn. ITC spent Rs 7.5 bn on advertisement in 2014-15 as against Rs 7.9 bn in the previous year, recording a fall of 5.1%. Further it was also reported that ITC, HUL and Emami have launched many new products this year which will require robust spending on promotion in the coming quarters.

As per a leading financial daily, Bajaj Electricals has reported 4.6% rise in June sales to Rs 3.9 bn from Rs 3.7 bn in the same month previous year. The company's revenue from EPC (engineering procurement construction) segment surged by 20.4% to Rs 1.5 bn for the month. Revenue from lighting segment soared 16.8% to Rs 0.8 bn for the same period. However, the company has reported 11.33% fall in sales from CD segment to Rs 1.6 bn as against Rs 1.8 bn in June 2014. Bajaj Electricals is a part of the Rs 200 bn Bajaj Group engaged in business appliances, fans, lighting, luminaries and engineering projects. Stock of Bajaj Electricals is trading up by 2.7%.

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