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Sensex ends 2013 up 9% YoY
Tue, 31 Dec Closing

The Indian markets ended the day on a firm note as buying activity picked up towards the end. The BSE-Sensex closed higher by about 28 points or 0.1%, while the NSE-Nifty ended higher by about 13 points or 0.2%. BSE Mid Cap and BSE Small Cap ended the day on a positive note with their respective indices reporting gains of about 0.2% and 0.7% respectively.

Stock markets in other parts of Asia closed firm with China, Hong Kong and Japan up by about 0.9%, 0.3% and 0.7% respectively. The rupee was trading at Rs 61.9 to the dollar at the time of writing.

Stocks of FMCG companies ended the day on a weak note with Nestle, Colgate and Dabur being the key losers. The year gone by was a mixed year for FMCG companies. High inflation and slowdown pressures in the urban parts of the country led to a major slowdown in consumption and therefore a slow volume growth for the FMCG players. However, with a good monsoon and government grants, the higher demand from rural India seems to balanced things out. As per Nielsen, the non-food category has been a difficult area in terms of growth, especially in the areas of hair and skin care. While companies have been facing pressures, they have been trying to take measures such as price hikes or reduction in packages sizes to maintain margins. What will be the outlook in the next few quarters is difficult to say. However, with sentiments seemingly improving and news of the worst - in terms of the economic conditions - being behind, it seems things are not likely to remain difficult for very long.

Stocks of automobile manufacturers ended the day on a firm note with Bajaj Auto and Tata Motors leading the pack of gainers. As per a leading business daily, commercial vehicle manufacturers namely Ashok Leyland, Tata Motors and Volvo are eyeing a 1,500 bus order which would be worth about Rs 4.5 bn. These buses will be supplied to the Andhra Pradesh State Road Transport Corporation. The tender is expected to finalise by mid-Jan 2014. It may be noted that during the previous such tender, the two major listed players had supplied the vehicles. Given the slowdown in volumes witnessed over the past many months, this would be a big order for the winning bidder. Sales of lorries and buses during the first eight months of the current financial year declined by 17% YoY to about 423,911 units, which averages to about 53,000 units a month.

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