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Sensex Trades Marginally Lower, Dow Futures Up by 174 Points
Fri, 14 May 12:30 pm | Ayesha Shetty, TM Team

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 29 points, down 0.1% at 48,662 levels.

Meanwhile, the NSE Nifty is trading down by 39 points.

Asian Paints and UPL are among the top gainers today. Hindalco and Coal India are among the top losers today.

The BSE Mid Cap index is trading down by 1%.

The BSE Small Cap index is trading down by 1.1%.

On the sectoral front, stocks from the metal sector, are witnessing most of the selling pressure.

On the other hand, stocks from the FMCG sector, are witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 102 points (up 0.8%) while Dow Futures are trading up by 174 points (up 0.5%)

The rupee is trading at 73.32 against the US$.

Gold prices are trading up by 0.3% at Rs 47,588 per 10 grams.

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In international markets, gold prices edged lower as US Treasury yields rose to an eight-week high and the dollar firmed after a bigger-than-expected rise. Spot gold was down 0.2%.

Following the trend in the international markets, gold prices in domestic markets were trading lower in early trade today on Akshaya Tritiya. On the Multi-Commodity Exchange (MCX), June gold contracts dipped 0.2% to Rs 47,365 for 10 grams.

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?

Moving on to stock specific news...

Among the buzzing stocks today is HG Infra Engineering.

Shares of HG Infra Engineering soared 19% in intraday trade today to Rs 346.4 on the BSE to touch its 52-week high, after the company reported a robust set of numbers for the quarter ended March (Q4FY21), with standalone net profit jumping 91% year-on-year (YoY) to Rs 977 m on the back of strong revenue.

The construction and engineering company had logged a profit of Rs 513 m in Q4FY20. The stock was trading close to its record high of Rs 356, touched on 23 April 2018.

During the quarter under review, the company's revenue increased 65% YoY to Rs 10.3 bn from Rs 6.3 bn in the corresponding quarter of the previous year, clearly reflecting the sharp pickup in execution.

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The company's earnings before interest, taxes, depreciation and amortization (EBITDA) also grew by 64% YoY to Rs 1.7 bn from Rs 1 bn in the year-ago quarter but EBITDA margin was down 8 basis points (bps) YoY at 16.2%.

The management said robust execution capabilities reflected in strong growth in revenue and order book with timely execution of all projects with no delays in any project. The strict discipline in selecting and executing orders translating into robust margins and return profile, it said.

HG Infra Engineering is primarily engaged in Engineering, Procurement and Construction (EPC) relating to roads, bridges, flyovers and infrastructure contract works and related activities.

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

At the time of writing, shares of HG Infra Engineering were trading up by 14.4% on the BSE.

Speaking of stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, talks about the worst sector in the stock market and why you should avoid it, in one of his latest videos for Fast Profits Daily.

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BREAKING: It's Good Time to Invest in Gold, but Just Don't Go Blindfolded

In news from the IPO space...

PowerGrid InvIT Rises 4% Over IPO Price on Stock Market Debut

Shares of PowerGrid InvIT gained on market debut after non-institutional investors and qualified institutional buyers piled into the Rs 77.4 bn initial public offering.

The stock debuted at Rs 104 apiece on the BSE, a premium of 4% over its issue price. It, however, pared some of its gains to trade at 103.7 thereafter. The IPO, which ran from 29 April to 3 May, was subscribed 4.4 times.

The issue was priced at Rs 99-100. It included a fresh issue of units worth Rs 49.9 bn, while the rest was an offer-for-sale. The InvIT will use the proceeds to provide loans to the initial portfolio assets for repayment or pre-payment of debt.

PowerGrid InvIT is set up to own, construct, operate, maintain and invest in power transmission assets in India. Its sponsor, PowerGrid Corporation of India is a central public sector enterprise under the Ministry of Power and is listed on the BSE and NSE.

The InvIT can capitalise on opportunities to increase power transmission capacity by utilising its existing right of way since developing new lines may be challenging for other entities. It, however, is a newly settled trust with no established operating history, making it difficult to accurately assess future growth prospects.

How the shares of the InvIT perform remains to be seen. Meanwhile, stay tuned for more updates from this space.

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!

Read the latest Market Commentary

What else is happening in the markets today? Dig in...

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Stock Market Updates

Sensex Trades Over 200 Points Lower, Dow Futures Up by 16 Points (Today's Market)

Jun 18, 2021 12:30 pm

BSE Sensex is trading down by 267 points, while the NSE Nifty is trading down by 90 points.

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The BSE Sensex fell over 600 points while NSE Nifty dipped below 14,500 mark.

HINDUSTAN COPPER Share Price Down by 5%; BSE METAL Index Down 2.1% (Today's Market)

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HINDUSTAN COPPER share price is trading down by 5% and its current market price is Rs 152. The BSE METAL is down by 2.1%. The top gainers in the BSE METAL Index [TOPCOMPANY]. The top losers is HINDUSTAN COPPER (down 5.1%).

GRAPHITE INDIA Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.4% (Today's Market)

Jun 18, 2021 09:56 AM

GRAPHITE INDIA share price is trading down by 5% and its current market price is Rs 680. The BSE CAPITAL GOODS is down by 0.4%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 1.0%) and SKF INDIA (up 0.6%). The top losers is GRAPHITE INDIA (down 5.4%).

GUJ. STATE PETRONET at All Time High; BSE OIL & GAS Index Down 0.7% (Today's Market)

Jun 18, 2021 09:50 AM

GUJ. STATE PETRONET share price has hit an all time high at Rs 328 (up 1.4%). The BSE OIL & GAS Index is down by 0.7%. Among the top gainers in the BSE OIL & GAS Index today are GUJ. STATE PETRONET (up 1.4%) and RELIANCE IND. (up 0.1%). The top losers include CASTROL INDIA (down 0.3%) and BPCL (down 0.4%).

Sensex Opens in Green; IT & FMCG Stocks Lead (Today's Market)

Jun 18, 2021 09:30 am

Indian share markets open marginally higher. The BSE Sensex opened up by 167 points, while the Nifty is trading higher by 37 points.

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