FMCG stocks witness mixed trend

Key benchmark indices trimmed some losses and traded with small losses in mid afternoon trade. At 14:16 IST, the barometer index, the S&P BSE Sensex was down 59.48 points or 0.18% at 32,974.08. The Nifty 50 index fell 25.25 points or 0.25% at 10,199.70. The Sensex alternately swung above and below the 33,000 level so far. Selling was triggered as the possibility of the central bank cutting interest rates next month was dampened after inflation picked up in October. Subdued trading in other Asian stocks also negatively influenced trading sentiment.

Key indices opened the session slightly lower. Later, indices hovered around the flat line till morning trade. Later, key indices extended slide till afternoon trade. Indices trimmed some losses in mid-afternoon trade.

Among secondary indices, the S&P BSE Mid-Cap index fell 0.04%. The decline in this index was lower than the Sensex's slide in percentage terms. The S&P BSE Small-Cap index was unchanged.

Overseas, European stocks edged higher amid volatility. Asian stocks edged lower following a lackluster session on Wall Street and also as investors digested the release of a slew of Chinese economic data points. Industrial output in China was up 6.2% on year in October, the National Bureau of Statistics said today, 14 November 2017. It was down from 6.6% growth in September. Another data released today, 14 November 2017 showed China's retail sales of consumer goods grew 10% year on year in October, down from 10.3% registered in September.

US stocks closed slightly higher yesterday, 13 November 2017 as worries about tax reform, capped gains in the major indexes.

Closer home, the breadth, indicating the overall health of the market, was negative. On BSE, 1,467 shares declined and 1,160 shares rose. A total of 128 shares were unchanged.

FMCG stocks were mixed. Marico (down 2.42%), Britannia Industries (down 1.72%), Emami (down 0.57%) and Nestle India (down 0.13%) declined. Colgate-Palmolive (India) (up 0.93%), Procter & Gamble Hygiene and Health Care (up 0.82%), Dabur India (up 0.8%) and Hindustan Unilever (up 0.27%) edged higher.

Gas utility stocks were mostly lower. Gujarat State Petronet (down 2.42%), Petronet LNG (down 2.22%) and Indraprastha Gas (down 0.57%) declined. Gujarat Gas (up 0.93%) and GAIL (India) (up 0.22%) edged higher.

Eicher Motors was down 1.41% at Rs 30,130. The company's consolidated net profit rose 25.37% to Rs 518.02 crore on 23.5% growth in total revenue from operations (excluding excise duty) to Rs 2167.30 crore in Q2 September 2017 over Q2 September 2016. The result was announced during market hours today, 14 November 2017.

Grasim Industries was down 0.53% to Rs 1,215.50 after consolidated net profit fell 26.66% to Rs 799.03 crore on 62.71% growth in revenue from operations (excluding excise duty) to Rs 13645.67 crore in Q2 September 2017 over Q2 September 2016. The result was announced during market hours today, 14 November 2017.

On the macro front, data released by the government during market hours today, 14 November 2017 showed that the annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.59% (provisional) for the month of October 2017 as compared to 2.6% (provisional) for the previous month and 1.27% during the corresponding month of the previous year.

Data released by the government after market hours yesterday, 13 November 2017 showed that India's inflation based on consumer price index (CPI) has accelerated to 3.58% in October 2017, mainly driven by higher prices of food and fuel. In September, the CPI inflation was 3.28%.

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