Sensex Trades Over 200 Points Higher, Dow Futures Up by 84 Points

Tue, 15 Jun 12:30 pm

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

The BSE Sensex is trading up by 283 points, up 0.5% at 52,834 levels.

Meanwhile, the NSE Nifty is trading up by 76 points.

Asian Paints and ONGC are among the top gainers today. Divi's Laboratories and Coal India are among the top losers today.

The BSE Mid Cap index is trading up by 0.6%.

The BSE Small Cap index is trading up by 0.7%.

On the sectoral front, stocks from the real estate sector, are witnessing most of the buying interest.

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

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

Nasdaq Futures are trading up by 22 points (up 0.2%) while Dow Futures are trading up by 84 points (up 0.3%).

The rupee is trading at 73.28 against the US$.

Gold prices are trading up by 0.3% at Rs 48,447 per 10 grams.

Gold prices remained weak in Indian markets today amid a recent downtrend in international rates. On MCX, gold slipped to Rs 48,493 per 10 grams in early trade, extending losses to the third day. In the previous session, gold had dipped 0.8%.

Note that gold has failed to hold its gains after hitting five-month highs of Rs 49,700 earlier this month. In August last year, gold had touched a record high of Rs 56,200.

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 Amara Raja Batteries.

Amara Raja Batteries (ARBL) on 14 June announced the expansion of its lead-acid batteries business and the establishment of a new energy strategic business unit encompassing lithium cell and battery pack, EV chargers and energy storage systems.

"The company is well poised to build on its strengths and create multiple new growth engines in new energy space," said Vice Chairman Jayadev Galla.

Mr Jayadev Galla is poised to become the new Chairman as Founder Chairman Ramachandra Galla has decided not to seek reappointment after 36 years at the helm.

The company's board of directors also inducted gen-next leaders Harshavardhana Gourineni and Vikramaditya Gourineni as Executive Directors to actively drive the transition to the 'Energy & Mobility' initiative.

S Vijayanand, with his proven track record of performance, will take charge as President (New Energy).

Jayadev Galla said the board unanimously believes new energy will provide substantial thrust over the coming decade. However, there remains a strong conviction on the long-term potential of the lead-acid batteries business.

The vital role played by lead-acid technology across a variety of applications provide significant growth opportunity in both the domestic and international markets. On the other hand, the emergence of lithium as an alternative energy storage technology opens up new and exciting growth opportunities.

Here's what he said in a statement -

• The ARBL board has decided to future-proof our business by repositioning ARBL as an energy and mobility player. The board believes that ARBL has to invest in a portfolio of businesses to maintain its technological and business leadership.

ARBL also plans to invest in a bouquet of products and services to accelerate its transformation to an energy and mobility solutions provider.

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

At the time of writing, Amara Raja Batteries shares were trading up by 1.1% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how the upcoming Robin Hood Conference will have an impact on your trades, in his latest video for Fast Profits Daily.

No, this doesn't have anything to do with Robin Hood traders. It's just as important though...especially if you are a commodity trader.

After five years, commodities are back on the agenda at this mega conference. And there will be some big names in attendance who can move the markets.

In the video below, Vijay will tell you why this conference can impact your wallet.

Tune in here to find out more:

Moving on to news from the finance sector...

SBI Cards and Payment Services Raises Rs 5 Bn By Issuing Bonds

SBI Cards and Payment Services on 14 June said that it has raised Rs 5 bn by issuing bonds.

Its board of directors has approved the allotment of 5,000 fixed-rate, unsecured, rated, taxable, redeemable and senior non-convertible debentures aggregating to Rs 5 bn on a private placement basis, SBI Cards said in a regulatory filing.

The coupon on the bonds is 5.55% per annum. The bonds have been allotted on 14 June 2021.

The company said the bonds are set to mature on June 14, 2024.

It will list the bonds on the wholesale debt market segment of the BSE.

SBI Cards and Payment Services previously known as SBI Cards is a payment solutions provider in India. SBI Cards was launched in October 1998 by the State Bank of India, India's largest bank, and GE Capital.

In December 2017, State Bank of India and The Carlyle Group. acquired GE Capital`s stake in the company.

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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