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Indian Share markets remain firm
Fri, 21 Nov 01:30 pm

Indian share markets continued to trade high in the post-noon trading session. Majority of the sectoral indices are trading in the green led by banking and consumer durable stocks. Only IT and metal stocks are trading in the red.

BSE-Sensex is up 225 points and NSE-Nifty is trading 67 points up. BSE Mid Cap is trading 0.4% up and BSE Small Cap index is trading up by 0.2%. The rupee is trading at 61.86 to the US dollar.

Most of the domestic pharma stocks are trading in the red with Orchid Chemicals and Natco Pharma being the biggest losers. Cipla and Biocon are among the few stocks trading positive. As per a leading financial daily, Dr Reddy's Laboratories (DRL) has launched over the counter (OTC) drug for allergy and congestion in the US markets. The OTC drug Fexofenadine Hydrochloride and Pseudoephedrine Hydrochloride Extended Release tablets 60 mg /120 mg is a bioequivalent generic version of Allegra-D@12 Hour Allergy & Congestion brand that has annual sales of around $49.8 m in the US as per IRI. DRL stock is currently trading down marginally.

Majority of the FMCG stocks are trading in the green with Jyothy Consumer and Pidilite Industries being among major gainers. However Dabur and Kokyo Camlin are among biggest losers. As per data released by data agencies IMRB and GfK, urban markets are witnessing revival in demand for FMCG and white goods. The FMCG consumption in value terms was up by 7% in the urban markets in the September 2014 quarter as compared to 2% growth in the corresponding year-ago period. Growth in rural demand in value terms remained flat at 3% in the September 2014 quarter. Companies like Britannia and Parle have launched premium brand of cookies to capitalize on the demand upturn. According to Godrej Consumer Products Ltd (GCPL), since the urban markets were hit more by the slowdown, their pick-up is faster than the in the rural markets. However, the company expects incremental demand in rural markets over the next two quarters due to a good rabi crop harvest in the North. Apart from FMCG goods, consumer durables such as microwave ovens and refrigerators are recording double-digit volume growth after a flat offtake in the last two years. Therefore white good companies such as Videocon Industries, Whirlpool, Samsung, LG and Godrej Appliances are launching premium products such as fully automatic washing machines, multiple-door refrigerators and microwave ovens.

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