Trading sentiments remained bearish for the sixth
straight session as funds and investors offloaded positions in knee-jerk
response to India Inc's lower-than-expected second quarter corporate
earnings. A weakening trend in global markets on lingering concerns over
the euro zone debt crisis also dampened the trading sentiment.
Moreover, the US markets ended sharply lower overnight after tumbling in
late hours. Back home, Markets continued their southbound journey for
yet another session as investors emotion's remained under pressure on
International credit rating agency Moody's statement that India's public
debt at 70% of its GDP is preventing it from securing an
investment-grade rating. Moreover, iron companies viz. Jindal Steel,
SAIL, JSW Steel and Sesa goa edged lower in the trade as the Chief
Minister of Orissa has reiterated his demand for an immediate ban on
export of iron ore. The broader indices too were struggling to get some
traction and were trading in the red at this point of time while, the
market breadth has made a negative start; there were 654 shares on the
gaining side against 879 shares on the losing side while 53 shares
remained unchanged. Moreover, PSU oil marketing companies like BPCL,
HPCL and IOC edged lower in the trade as Crude oil prices surged
overnight on news of plans to reverse the Seaway crude oil pipeline next
year.
The BSE Sensex opened at 16,754.68; about 21 points lower compared to its previous closing of 16,775.87, and has touched a high and a low of 16,799.27 and 16,683.32 respectively.
The index is currently trading at 16,711.16, down by 64.71 points or 0.39%. There were 11 stocks advancing against 19 declines on the index.
The overall market breadth has made a negative start with 41.24% stocks advancing against 55.42% declines. The broader indices too were trading in the red; the BSE Mid cap and Small cap indices were down by 0.19% and 0.20% respectively.
Realty up by 0.78% remained the lone gainer in the sectoral indices on the BSE. While, Oil and Gas down by 1.22%, IT down by 0.98%, TECk down by 0.63%, PSU down by 0.43% and CG down by 0.36% were the top losers on the index.
The major gainers on the Sensex were DLF up by 1.45%, Tata Steel up by 1.17%, Sun Pharma up by 1.10%, Bharti Airtel up by 0.59% and Cipla was up by 0.53%.
On the flip side, RIL down by 1.94%, Coal India down by 1.82%, Infosys down by 1.26%, Wipro down by 1.01% and BHEL down by 0.82% were the top losers on the index.
Meanwhile, India's spending on fast moving consumer goods (FMCG) at modern retail stores is likely to jump almost three times from the current $1.8 billion to $5 billion by 2015, according to a study by Nielsen India. The rapid rise in sales of FMCG will be seen largely through organized retail channels, which would benefit major brand owners and private label competition. According to the study, Indian shoppers spend over $100 million on private label items per year and are expected to increase to $500 million by 2015.
Sales through modern retail channels, which represents just 5% of category sales in India, have accelerated by 31% this year compared to last year. According to the study conducted by the research firm, the annual FMCG revenues generated by modern retail channels like supermarkets and convenience stores etc is at $1.8 billion currently since the country's consumers are enjoying modern trade shopping experience and is increasingly shopping there.
The research firm in its consumer 360 report has estimated that the India's rural FMCG retail landscape will expand to $100 billion by 2025 from $12 billion in 2011. The Nielsen study cites the factor, which drives consistent growth is changing rural mindset that is open to consumption of newer and more contemporary food categories. As per the company, four vital trends that will drive consumption will be premiumization, consumers switching from commodity to brands, from indulgence to regular consumption, and acceptability.
The S&P CNX Nifty opened at 5,027.10; about 3 points lower compared to its previous closing of 5,030.45, and has touched a high and a low of 5,035.35 and 5,000.50 respectively.
The index is currently trading at 5,006.95, down by 23.50 points or 0.47%. There were 17 stocks advancing against 33 declines on the index.
The top gainers of the Nifty were DLF up by 1.49%, Tata Steel up by 1.24%, Sunpharma up by 1.13%, JP Associates up by 0.82% and NTPC up by 0.74%.
Reliance Industries down by 1.93%, Coal India down by 1.54%, ACC down by 1.47%, HCL Tech down by 1.42% and Axis Bank was down by 1.37%, were the major losers on the index.
The BSE Sensex opened at 16,754.68; about 21 points lower compared to its previous closing of 16,775.87, and has touched a high and a low of 16,799.27 and 16,683.32 respectively.
The index is currently trading at 16,711.16, down by 64.71 points or 0.39%. There were 11 stocks advancing against 19 declines on the index.
The overall market breadth has made a negative start with 41.24% stocks advancing against 55.42% declines. The broader indices too were trading in the red; the BSE Mid cap and Small cap indices were down by 0.19% and 0.20% respectively.
Realty up by 0.78% remained the lone gainer in the sectoral indices on the BSE. While, Oil and Gas down by 1.22%, IT down by 0.98%, TECk down by 0.63%, PSU down by 0.43% and CG down by 0.36% were the top losers on the index.
The major gainers on the Sensex were DLF up by 1.45%, Tata Steel up by 1.17%, Sun Pharma up by 1.10%, Bharti Airtel up by 0.59% and Cipla was up by 0.53%.
On the flip side, RIL down by 1.94%, Coal India down by 1.82%, Infosys down by 1.26%, Wipro down by 1.01% and BHEL down by 0.82% were the top losers on the index.
Meanwhile, India's spending on fast moving consumer goods (FMCG) at modern retail stores is likely to jump almost three times from the current $1.8 billion to $5 billion by 2015, according to a study by Nielsen India. The rapid rise in sales of FMCG will be seen largely through organized retail channels, which would benefit major brand owners and private label competition. According to the study, Indian shoppers spend over $100 million on private label items per year and are expected to increase to $500 million by 2015.
Sales through modern retail channels, which represents just 5% of category sales in India, have accelerated by 31% this year compared to last year. According to the study conducted by the research firm, the annual FMCG revenues generated by modern retail channels like supermarkets and convenience stores etc is at $1.8 billion currently since the country's consumers are enjoying modern trade shopping experience and is increasingly shopping there.
The research firm in its consumer 360 report has estimated that the India's rural FMCG retail landscape will expand to $100 billion by 2025 from $12 billion in 2011. The Nielsen study cites the factor, which drives consistent growth is changing rural mindset that is open to consumption of newer and more contemporary food categories. As per the company, four vital trends that will drive consumption will be premiumization, consumers switching from commodity to brands, from indulgence to regular consumption, and acceptability.
The S&P CNX Nifty opened at 5,027.10; about 3 points lower compared to its previous closing of 5,030.45, and has touched a high and a low of 5,035.35 and 5,000.50 respectively.
The index is currently trading at 5,006.95, down by 23.50 points or 0.47%. There were 17 stocks advancing against 33 declines on the index.
The top gainers of the Nifty were DLF up by 1.49%, Tata Steel up by 1.24%, Sunpharma up by 1.13%, JP Associates up by 0.82% and NTPC up by 0.74%.
Reliance Industries down by 1.93%, Coal India down by 1.54%, ACC down by 1.47%, HCL Tech down by 1.42% and Axis Bank was down by 1.37%, were the major losers on the index.
Asian
bourses prolong downfall as global jitters persist; Hang Seng was down
167.62 points or 0.88% to 18,793.28, Jakarta Composite was down 13.24
points or 0.35% to 3,800.85, KLSE Composite was down 5.98 points or
0.40% to 1,470.86, Straits Times was down 18.95 points or 0.67% to
2,788.49 and Taiwan Weighted was down by 19.17 points or 0.26% to
7,368.35.
On the flip side, Shanghai Composite was up 0.71
points or 0.03% to 2,467.67, Nikkei 225 was up 2.89 points or 0.03% to
8,466.05 and Seoul Composite was up by 4.55 points or 0.25% to
1,860.62. 
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