Sensex Holds Gains, Dow Futures Down by 35 Points

Mon, 12 Jul 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 211 points, up 0.4%, at 52,597 levels.

Meanwhile, the NSE Nifty is trading up by 66 points.

UltraTech Cement and Shree Cement are among the top gainers today. Bharti Airtel and BPCL are among the top losers today.

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

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

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

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

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 8 points (up 0.1%) while Dow Futures are trading down by 35 points (down 0.1%).

The rupee is trading at 74.46 against the US$.

Gold prices are trading down by 0.6% at Rs 47,626 per 10 grams.

Gold futures on MCX closed near a three-week high of Rs 48,000 per 10 grams on Friday, 9 July 2021, supported by positive global cues. But the sudden price jump hurt gold demand in India, Reuters reported citing a gold wholesaler.

Concerns about the delta variant of coronavirus helped gold log its third straight weekly gain in global markets. The metal rose 0.3% to US$ 1,807.7 an ounce.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report talks about the top three risks for Nifty today, in his latest video for Fast Profits Daily.

Tune in here to find out more:

Moving on to stock-specific news...

Among the buzzing stocks today is Tanla Platforms.

Shares of Tanla Platforms hit an upper circuit of 5% on the exchanges today after the company said its board will consider a share buyback on 22 July 2021.

On the same day, the company will also consider and approve the unaudited financial results for the quarter ended June 2021.

Tanla Platforms, is one of the world's largest CPaaS (communications platform as a service) players and processes more than 800 bn interactions annually.

About 62% of India's A2P SMS traffic is processed through its distributed ledger platform.

In its latest quarterly results, the company posted a net profit of Rs 1 bn. It had posted a loss of Rs 891 m in the March 2020 quarter.

The company's net sales also surged 24.2% year on year to Rs 6.5 bn compared to Rs 5.2 bn in the same period last year.

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

At the time of writing, Tanla Platform shares were trading up by 5% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the editions of Profit Hunter here: It's When You Sell that Counts

Moving on to news from the commodity space...

Sovereign Gold Bond Issue 2021 Opens for Subscription Today

The Reserve Bank of India has opened the fourth tranche of the sovereign gold bond (SGB) issue for public subscription today.

Investors can bid for a minimum of 1 gm of gold at Rs 4,807 against Rs 4,889 per gm in the previous tranche. For those investors who apply for the new tranche online, the government will offer a Rs 50 per gram discount. The fourth tranche will close for subscription on July 16.

Investors who wish to subscribe to the issue can do so via their bank. Besides, these bonds are also sold through Stock Holding Corporation of India, designated post offices, NSE and BSE, either directly or through agents. Investors would get a 2.5% interest on the amount of initial investment, which will take effect from the date of its issue and will be payable every six months.

Besides, they can also see capital gains at the time of redemption, in case the price of gold at the time of redemption is higher. The tenor of the bond will be for a period of eight years with exit option in the fifth, sixth and seventh year, to be exercised on the interest payment dates.

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

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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