Friday, 25 November 2016

Sensex Finishes Strong; IT, Pharma Stocks Surge

Indian share market gained further momentum in the afternoon session as IT stocks were boosted by a weaker rupee. Sentiments also remained positive on account of firm Asian markets.

  At the closing bell, the BSE Sensex stood higher by 456 points, while the NSE Nifty finished up by 149 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1.3% and 2% respectively.

IT sector and Pharma stocks witnessed a surge. 

(Find a list of BSE gainers today.)

According to a leading financial daily, India recorded overall power deficit of 0.7% in first seven months of the current fiscal.

According to an article in The Livemint, health of the power sector directly impacts that of the finance sector as 70-80% of the funds invested in any new power project are from financial institutions.

Moving on to FMCG stocks.

According to a leading financial daily, Britannia Industries is looking to expand its sales and distribution network in the Northern and Western states, besides increasing its sales in rural areas. In order to attract more customers in rural markets, the company is planning to come up with more low-price offerings in these areas.

In addition, Britannia Industries recently opened a modern research and development facility in Bidadi, on the outskirts of Bengaluru.

The move is part of Britannia’s larger attempt to shake off its reputation of being a laggard in innovation, become more cost-efficient and move more manufacturing in-house. It comes at a time when the company faces tough competition from the likes of Parle, ITC Ltd and Mondelez International Inc. 


Britannia share price finished the trading day up by 1% on the BSE.

Indian Rupee was trading at 68.46 against the US Dollar. Oil prices were trading at US$ 47.64 when share market news was written.


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