Sensex Trades Marginally Lower, Dow Futures Up by 44 Points

Mon, 14 Jun 12:30 pm

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Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 197 points, down 0.4% at 52,278 levels.

Meanwhile, the NSE Nifty is trading down by 65 points.

Bajaj Finance and ONGC are among the top gainers today. Adani Ports and Coal India are among the top losers today.

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

The BSE Small Cap index is trading down by 0.3%.

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

On the other hand, stocks from the metal 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 27 points (up 0.2%) while Dow Futures are trading up by 44 points (up 0.1%).

The rupee is trading at 73.17 against the US$.

Gold prices are trading down by 0.9% at Rs 48,486 per 10 grams.

Gold prices struggled in Indian markets today as global rates fell to more than a one-week low. On MCX, gold futures were down 0.6% to Rs 48,588 per 10 grams, extending losses to the second session. In the previous session, gold had declined 0.7%.

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 Info Edge.

Leading consumer internet company Info Edge, which operates recruitment portal Naukri.com, on 12 June said that it has entered into an agreement to acquire 100% of the share capital of Zwayam Digital.

Bengaluru-based Zwayam Digital operates Zwayam, an artificial intelligence and machine learning-powered recruitment management software platform.

Info Edge also operates 99acres.com and education portal Shiksha.

With this acquisition, Info Edge is aiming to streamline and accelerate digital transformation in talent management. Under the agreement, Zwayam will leverage the Info Edge experience, ecosystem and resources and invest more in the business to serve both existing and future customers even better.

Founded by Joseph John, Nicel KM, Divya T and Shreyas Tonse in 2015, Bengaluru-based Zwayam powered the digital transformation of the recruitment process of many enterprises.

Concerning the acquisition, Zwayam CEO Joseph John said,

• We are very much excited and look forward to the next phase of our journey with Info Edge. Info Edge will provide us with the necessary expertise and resources we needed to support our customers better. Together we would be able to serve 100% of our customer needs.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, Info Edge shares were trading down by 0.3% on the BSE.

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report shares how you can profit from the next leg of the metals rally, in his latest video for Fast Profits Daily.

Tune in here to find out more:

Moving on to news from the cement sector...

Adani Group Enters Cement Business, Incorporates Adani Cement Industries

Adani Group, which has a presence in ports, airports, power, gas distribution, among others, is set to enter the cement business.

Adani Enterprises on 12 June said that it has incorporated a wholly-owned subsidiary namely Adani Cement Industries (ACIL).

In an exchange filing, the company informed that Adani Cement has an authorised share capital of Rs 1 m and paid-up share capital of Rs 500,000. The fresh subsidiary has 50,000 equity shares of Rs 10 each, it added.

The newly minted company has been registered with the Registrar of Companies, Gujarat on 11 June 2021 and is yet to begin operations. Thus, the company does not have any turnover yet, it clarified.

The company will carry on business as manufacturers, producers, processors of all types of cement, it added.

As per some reports, the Adani Group has also started initial discussions to hive off its airport business from holding firm Adani Enterprises.

The Gautam Adani-led group will likely raise US$ 500 m through a private placement of shares in Adani Airports Holdings before an eventual IPO (initial public offering).

We will keep you posted on 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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