Diesel Gets Costlier, Gold Hits Record High, and Buzzing Stocks in Focus Today

Thu, 25 Jun Pre-Open

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Indian share markets witnessed huge losses and ended their session deep in the red yesterday.

In early trade yesterday, the BSE Sensex rose over 250 points, extending gains to the fifth consecutive day fueled by news of an improving economy and de-escalating tensions on the India-China border.

According to a report in The Economic Times, the government heralded the "early green shoots of economic revival" in May and June, pointing to higher electricity and fuel consumption, greater movement of goods and an increase in financial transactions.

Benchmark indices, however, gave up gains and witnessed selling pressure during closing hours. The BSE Sensex plunged more than 800 points from its day's high.

Stocks in the telecom sector and banking sector were among the hardest hit.

At the closing bell yesterday, the BSE Sensex stood lower by 561 points, down 1.6%.

Meanwhile, the NSE Nifty closed down by 166 points.

The BSE Mid Cap index ended down by 1.1%, while the BSE Small Cap index ended down by 1.2%.

Speaking of Indian stock markets, in his latest video, Rahul Shah shares two of the most fundamental principles of making sure how your portfolio earns an A+ most of the time.

What are these fundamental principles and how to apply them?

Tune in to find out more...

Top Stocks in Focus Today

Adani group stocks will be among the top buzzing stocks today. This comes as Adani Power has signed a definitive agreement to acquire 49% stake in Odisha Power Generation Corporation (OPGC) from the affiliates of The AES Corporation (AES), the US-based global energy company.

OPGC operates 1,740 MW thermal power plant at Banharpalli in Jharsuguda district of Odisha. This plant is the mainstay of the state for base load power supply and amongst the lowest cost power generated in the state, the reports noted.

Shriram Transport share price will be in focus today as the company has initiated talks with merchant bankers for its proposed Rs 15 billion rights issue. The company will be tapping equity markets after a decade.

Market participants will also be tracking stocks from the oil & gas sector today. Stocks such as Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation, and Hindustan Petroleum Corporation Ltd will be in focus as diesel turned costlier than petrol after 18 hikes in a row.

The state-run oil companies yesterday raised the prices of diesel for the 18th consecutive day. No increase was witnessed in petrol prices. With the current price hike, diesel has become costlier than petrol.

While petrol costs Rs 79.76 per litre, diesel can be bought at Rs 79.88 per litre. The price of diesel has been increased by 48 paise a litre.

Asian Paints March Quarter Results

On a consolidated basis, Asian Paints' net profit declined 2.1% to Rs 4,618.9 million on 7.1% fall in net sales to Rs 46,355.9 million in the quarter ended March 2020 (Q4FY20).

The paint maker's profit before tax stood at Rs 6,992.2 million in Q4FY20, declining 5.3% from Rs 7,383 million in the same period last year.

Total tax expense declined 13.2% to Rs 2,189.7 billion in the quarter under review.

On the operating front, earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 3% year-on-year (YoY) to Rs 8,596.2 million in the quarter ended March 2020, but margin increased 80 bps to 18.6% YoY.

"Loss of sales due to the lockdown in March 2020 impacted the decorative business segment in an otherwise strong quarter with double digit volume growth in the first two months of the quarter," Amit Syngle, the company's Managing Director & CEO said.

On a consolidated basis, the company's net profit rose 25.6% to Rs 27,741.9 million in fiscal year ending 2020 (FY20) as against Rs 22,080.4 million reported in fiscal year ending 2019.

Net sales for FY20 stood at Rs 202.1 billion in FY20, rising 5% from Rs 192.4 billion in FY19.

The company's board has recommended a final dividend of Rs 1.5 per share.

Gold Price Hits Fresh Record High

Domestic gold prices extended gains yesterday and hit a new record high of Rs 48,333 per 10 gram amid a global rally.

On Multi Commodity Exchange (MCX), August gold futures rose 0.10% to Rs 48,281 per 10 grams during morning hours yesterday.

Gold also witnessed buying interest in global markets and gained around 1%.

Most of the gains for the yellow metal were seen on expectations that global central banks will continue to provide more stimulus to the markets to cushion from the effects of a second wave in many nations.

Worries about a delay in global economic recovery also prompted investors to seek the safe-haven metal.

Note that gold prices have also been lifted by the fear of inflation that will come from the cash governments and central banks are approving around the world as they continue to provide much-needed support to pandemic-hit economies.

Speaking of gold, 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...

Gold Has Been a Shining Long-Term Investment

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

Here's what we 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.

In one of his videos, Vijay Bhambwani, editor of Fast Profits Daily explains why this year's US presidential elections could be bullish for gold.

As per him, the US presidential cycle may not be as predictable this time as it usually is. But there is good money to be made if you can play this trend correctly.

He shows a simple way to profit from this important event.

Tune in to know more: This Year's US Presidential Cycle Could Be Bullish for Gold and Silver

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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