Stock Market Closes in Red for the Fourth Consecutive Session

Indian share market witnessed some selling pressure during the afternoon session and finished below the dotted line for the fourth consecutive day.

At the closing bell, the BSE Sensex closed lower by 71 points, whereas the NSE Nifty finished down by 32 points. The S&P BSE Midcap & the S&P BSE Small Cap finished down by 0.4% and 0.6% respectively. IT stocks and capital goods sector were under pressure. While power stocks and metal stocks led the pack of BSE gainers today.

The rupee was trading at Rs 67.91 against the US$ in the afternoon session. Oil prices were trading at US$ 45.73 at the time of writing.

Lupin share price finished the day on an optimistic note (up 0.4%) after the company announced that it has received US drug regulator's final approval for tablets that are indicated for the relief of moderate to moderately severe pain.

Moving on to the news from stocks in FMCG sector (or FMCG stocks).

As per an article in Business Standard, ITC’s US-based arm King Maker Marketing Inc. (KMM). has ceased to be its subsidiary. KMM was into business of import and distribute tobacco products to licensed wholesalers and retailers throughout the USA.

ITC share price was up 0.7% by the time share market news was written.

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