Indian share markets ended marginally lower ahead of Union budget. At the closing bell, the BSE Sensex finished lower by 69 points. While, the NSE Nifty finished lower by 22 points. Meanwhile, the S&P BSE Midcap Index and S&P BSE Small Cap Index ended down by 1.3% & 0.8% respectively.
Barring energy stocks and Bank stocks, all the sectoral indices ended the day in red with healthcare stocks and FMCG stocks leading the losses.
Overseas, Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.86%, while the Nikkei 225 led the Shanghai Composite lower. They fell 0.83% and 0.21% respectively. European markets are mixed today. The DAX is up 0.48% while the CAC 40 gains 0.38%. The FTSE 100 is off 0.02%.
The rupee was trading at Rs 63.69 against the US$ in the afternoon session.
In news from the FMCG sector, Dabur India share price finished the day down on a negative note ahead of the company’s quarterly earnings to be declared later in the day.
As per the street estimates, consolidated profit of the company during the quarter is expected to increase 17.4% to Rs 3.5 billion and revenue to rise 11.1% to Rs 20.6 billion compared to year-ago.
It is an important quarter for the company as last quarter showed improvement in oral care & foods business and it will be interesting to see if that improvement continues in Q3 aided by low base.
Meanwhile, Dabur has taken Marico Ltd to the Delhi High Court for allegedly violating trademark and copyright laws by comparing their hair oil products and denigrating its Dabur Amla in a print advertisement.
Marico Ltd share price finished down by 1.6%.
Meanwhile, Godrej Consumer Products Ltd (GCPL) reported a 22.1% jump in consolidated net profit to Rs 4.3 billion for the third quarter ended 31 December 2017.
Leave A Comment