FMCG stocks witness a mixed trend

After trimming gains in mid-morning trade, key benchmark indices recovered from lower level in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex, was up 153.01 points or 0.6% at 25,672.23. The Nifty 50 index was currently up 43.45 points or 0.56% at 7,805.60. The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,667 shares rose and 703 shares fell. A total of 161 shares were unchanged. The BSE Mid-Cap index was currently up 0.68%. The BSE Small-Cap index was currently up 0.67%. Both these indices outperformed the Sensex.

In overseas equity markets, Asian stocks witnessed a mixed trend. US stocks fell sharply during the previous trading session on Friday, 18 December 2015, amid fears that collapsing oil prices might impact banks with exposure to highly-leveraged energy companies.

Index heavyweight and cigarette major ITC advanced 1.84% to Rs 323.10. The stock hit a high of Rs 323.55 and low of Rs 316.50 so far during the day.

Index heavyweight and software major Infosys advanced 0.83% to Rs 1,095. The stock hit high of Rs 1,096 and low of Rs 1,070.90 so far during the day.

FMCG stocks witnessed a mixed trend. Britannia Industries (up 1.47%), Colgate-Palmolive (India) (up 0.61%), Dabur India (up 1.09%), GlaxoSmithkline Consumer Healthcare (up 0.74%), Marico (up 0.92%), Nestle India (up 0.6%), Tata Global Beverages (up 1.2%) rose. Hindustan Unilever (down 0.59%), Godrej Consumer Products (down 2.54%), Procter & Gamble Hygiene and Health Care (down 0.13%), Jyothy Laboratories (down 0.78%) and Bajaj Corp (down 0.67%) fell.

Telecom stocks rose. Idea Cellular (up 1.07%), MTNL (up 3.68%), Bharti Airtel (up 0.45%), Tata Teleservices (Maharashtra) (up 0.99%) and Reliance Communications (up 0.12%) gained.

Granules India gained 2.4% after the company announced that the United States Food & Drug Administration (USFDA) completed the inspection of company's two facilities, one located at Vizag in Andhra Pradesh and another at Jeedimetla in Telangana. After the completion of USFDA's inspection of these facilities, no observations were found for Vizag facility and three observations were recorded for Jeedimetla facility. The company will respond to the observations in fifteen business days. The company made the announcement during market hours today, 21 December 2015.

Mindteck (India) rose 3.16% after the company said it has signed a memorandum of understanding with Alafdaliyah Group for providing IT products and services, skilled IT resources and offshore services from the company's two development centers in India. Alafdaliyah Group is a well-known business house in Saudi Arabia. The announcement was made during market hours today, 21 December 2015.

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