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Sensex Trades Over 300 Points Higher; Dow Futures Trade Flat
Tue, 9 Feb 12:30 pm | Ayesha Shetty, TM Team

Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 377 points, up 0.7% at 51,725 levels.

Meanwhile, the NSE Nifty is trading up by 112 points.

Asian Paints and SBI Life are among the top gainers today. Mahindra % Mahindra and Tata Motors are among the top losers today.

The BSE Mid Cap index is trading up by 0.3%.

The BSE Small Cap index is trading up by 0.4%.

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On the sectoral front, stocks from the telecom sector, witnessing most of the buying interest.

On the other hand, stocks from the automobile sector are witnessing most of the selling pressure.

US stock futures are trading flat today.

Nasdaq Futures are trading down by 5 points (flat) while Dow Futures are trading flat.

The rupee is trading at 72.87 against the US$.

Gold prices are trading up by 0.3% at Rs 47,990 per 10 grams.

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Gold prices edged higher in Indian markets today following a rebound in global rates. On MCX, gold futures gained 0.4% to Rs 48,038 per 10 grams after a strong surge over the past two sessions. In the previous session, gold had surged 1.3%, tracking a rebound in global prices as the yellow metal attracted increasing interest from dealers seeking out the safe haven.

Note that gold is seen as a hedge against an expected jump in inflation. Gold prices have been very volatile this year after hitting a record high of Rs 56,200 in August last year.

A stronger dollar and rising US Treasury yields have weighed on the precious metal this year after big gains last year. But, in global markets, gold has risen around 3% since hitting a two-month low on February 5, 2021 and was trading at US$ 1,841 an ounce.

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

The recent price volatility in the bullion market has rattled many traders. Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

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Moving on to stock specific news...

Among the buzzing stocks today is NMDC.

State-owned mining major National Mineral Development Corporation (NMDC) on February 8 said its consolidated net profit jumped 53% to Rs 21.1 billion for the quarter ended December. The company had posted a net profit of Rs 13.7 billion during the same quarter a year ago.

The company's operating profit for the quarter rose to the highest in eight years as the nation's largest iron ore miner lowered employee benefit costs. As a result, the state-run company's earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 73.9% year-on-year (YoY) to Rs 27.7 billion during the quarter.

NMDC's employee expenses as a percentage of sales dropped 6.2% compared to 8.6% in the corresponding quarter.The company's revenue also rose 44.8% YoY to Rs 43.5 billion. The company, according to its investor presentation, reported the best ever turnover since inception. Its previous record was at Rs 36.5 billion in the third quarter of FY19.

NMDC, under the Ministry of Steel, is the country's largest iron ore miner. Besides iron ore, it is also involved in the exploration of a wide range of minerals like copper, rock phosphate, limestone, dolomite and gypsum.

At the time of writing, NMDC share price was trading up by 0.5% on the BSE.

Moving on to news from the indian pharma sector...

Torrent Pharmaceutical Q3FY21 Results: US Business Drags Down Revenue

Shares of Torrent Pharmaceuticals fell the most since December 2020 as sales declined in the drug maker's second-biggest market.

The company saw a 24% year-on-year (YoY) decline in sales in the US, owing to price erosion and base impact of the Sartan portfolio discontinuation. The US business, according to the drug maker's FY20 annual report, contributes 19% to its overall sales.However, sales in India, Torrent Pharma's largest market, rose 7%YoY to Rs 9.9 billion. This growth was driven by market recovery, continued momentum in chronic brands and a strong recovery in the sub-chronic brands.

The company in its conference call said India and Germany are on the recovery path, while the Brazil division offered a positive surprise. The company's Germany revenues were up 21% YoY to Rs 2.6 billion whereas its Brazil revenues were down 8% YoY for at Rs 1.7 billion the quarter under consideration.

Overall, the company reported an 18.3% YoY rise in its consolidated net profit to Rs 2.9 billion for the quarter ended in December. The company had posted a net profit of Rs 2.5 billion for the corresponding period of the previous fiscal.The board of the company has approved an interim dividend of Rs 20 per equity share of Rs 5 fully paid up.

We will keep you posted for more updates from this space. Stay tuned.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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Stock Market Updates

J&K BANK Share Price Up by 8%; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:35 PM

J&K BANK share price is trading up by 8% and its current market price is Rs 32. The BSE BANKEX is up by 2.8%. The top gainers in the BSE BANKEX Index are J&K BANK (up 7.6%) and RBL BANK (up 5.2%).

RELIANCE IND. Share Price Up by 5%; BSE OIL & GAS Index Up 1.3% (Today's Market)

Mar 3, 2021 03:27 PM

RELIANCE IND. share price is trading up by 5% and its current market price is Rs 2,216. The BSE OIL & GAS is up by 1.3%. The top gainers in the BSE OIL & GAS Index is RELIANCE IND. (up 5.1%). The top losers are PETRONET LNG (down 0.1%) and BPCL (down 0.4%).

AU SMALL FINANCE BANK at All Time High; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:23 PM

AU SMALL FINANCE BANK share price has hit an all time high at Rs 1,224 (up 4.2%). The BSE BANKEX Index is up by 2.8%. Among the top gainers in the BSE BANKEX Index today are AU SMALL FINANCE BANK (up 4.2%) and KOTAK MAHINDRA BANK (up 3.0%).

REDINGTON Share Price Down by 5%; BSE 500 Index Up 1.9% (Today's Market)

Mar 3, 2021 03:13 PM

REDINGTON share price is trading down by 5% and its current market price is Rs 200. The BSE 500 is up by 1.9%. The top gainers in the BSE 500 Index are IFCI (up 19.9%) and IDBI BANK (up 12.1%). The top losers are REDINGTON (down 5.1%) and SYMPHONY (down 5.1%).

RBL BANK Share Price Up by 5%; BSE BANKEX Index Up 2.7% (Today's Market)

Mar 3, 2021 03:09 PM

RBL BANK share price is trading up by 5% and its current market price is Rs 249. The BSE BANKEX is up by 2.7%. The top gainers in the BSE BANKEX Index are RBL BANK (up 5.0%) and FEDERAL BANK (up 5.7%).

Sensex Trades Over 500 Points Higher; Dow Futures Up by 147 Points (Today's Market)

Mar 3, 2021 12:30 pm

BSE Sensex is trading up by 586 points, while the NSE Nifty is trading up by 190 points.

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