Sensex Ends Over 400 Points Higher, Rising Gold Prices, and Top Cues in Focus Today

Thu, 20 Feb Pre-Open

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Indian share markets continued their momentum during closing hours yesterday and ended on a positive note today.

At the closing bell yesterday, the BSE Sensex stood higher by 428 points (up 1.1%) and the NSE Nifty closed higher by 137 points (up 1.2%).

The BSE Mid Cap index ended up by 1.3% and the BSE Small Cap index ended the day up by 1.4%.

All sectoral indices were trading in the green with healthcare sector and energy sector witnessing most of the buying interest.

Speaking of Indian share markets, we've been telling you about the rebound in smallcap stocks in 2020 for quite some time now.

And the market trend since the start of 2020 tells us, it's already happening!

Have a look at the chart below:

Smallcaps Are Way Ahead of the Sensex in 2020

As you can see, since the start of 2020, smallcaps have beaten largecaps by a wide margin.

But this is just the start.

We believe smallcaps have a long way to go.

You can make good gains with a careful selection of smallcap stocks and long-term horizon.

As per Richa Agarwal, editor of our premium smallcap service Hidden Treasure, fundamentally strong smallcap stocks will not only survive but thrive in the long term.

Aurobindo Pharma Receives EIR from USFDA

In news from the pharma sector, shares of Aurobindo Pharma surged 19% yesterday after the company's Unit IV received Establishment Inspection Report (EIR) with Voluntary Action Initiated (VAl) status from the US health regulator.

In a BSE filing, Aurobindo Pharma said that the USFDA had inspected company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019.

At the end of the inspection, the company had issued a 'Form 483' with 14 observations.

On November 13, 2019, the company had informed the stock exchanges that none of these observations are related to data integrity issues.

Currently, Unit 4 has 15 abbreviated new drug applications (ANDA) approvals pending over next one year.

Earlier this month, the company had reported a strong growth of 11.9% in operational revenues at Rs 59 billion in the December quarter (Q3FY20).

The company's consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) margin remained stable at 20.5% in Q3FY20. EBITDA grew 11.2% YoY at Rs 12.1 billion.

However, profit after tax (PAT) declined 1% YoY to Rs 7.1 billion, due to higher depreciation.

To know more about the company, you can read Aurobindo Pharma's latest result analysis on our website.

Speaking of pharma sector, in the video below, Tanushree tells us where the sector stands now and also about the potential for a rebound.

Watch Now...

Meanwhile, Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from what she calls the Rebirth of India.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.

Jet Airways Extends Deadline for Bids

In news from the aviation space, Jet Airways' Committee of Creditors (CoC) on Tuesday decided to extend the deadline for submission of bids to March 10 as a new entity evinced interest in the airline.

The deadline for submitting the bids for Jet Airways, which is undergoing insolvency process, ended on Monday.

Against this backdrop, the CoC extended the deadline for submission of bids to March 10.

Earlier, South American conglomerate Synergy Group and New Delhi-based Prudent ARC were given time to submit resolution plan. Reportedly, they failed to meet the deadline.

The beleaguered airline had shut its operations in April last year due to severe cash crunch.

Jet Airways was admitted under the insolvency process on June 20, 2019, after its bankers failed to find any takers despite months of negotiations.

The airline stopped flying on April 17 and it had around 14,000 employees on that date.

How all this pan out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Gold Witnesses Buying Interest

In news from the commodity space, gold was witnessing buying interest yesterday. The yellow metal held steady above the key US$ 1,600 mark yesterday as an uptick in equities due to a drop in new virus cases was offset by fears of an economic fallout.

The increase in the number of new virus cases slowed in China's Hubei province even as the death toll rose by 132 as of Tuesday. This was seen as a welcome breather and meant some gains for gold.

Market participants are now awaiting the minutes of the Federal Reserve's January 28-29 policy meeting to take cues on what effect it would have on gold prices.

We will keep you updated on all the upcoming news from this space. Stay tuned.

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

Here's what Ankit Shah wrote about this in one of the editions of The 5 Minute WrapUp...

• In fact, gold has delivered double-digit gains in 10 of the last 15 years.
  
  During the entire 15-year period, gold has shot up 555% (compounded annual return of 12.1%).
  
  During the same period, the Sensex surged 511% (compounded annual return of 12.0%). If you include dividends, the Sensex returns would be higher than gold by a couple of percentage points.
  
  One must note that the Sensex returns are not representative of the broader market returns. Moreover, gold was a no-brainer. You didn't have to study financial statements, business models and forecast future earnings growth to get a double-digit return on your investment.

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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