MEMBER'S LOGINX
| Invalid Username / Password | ||||||||
| Invalid Captcha | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
- Home
- Todays Market
- Indian Stock Market News August 12, 2020
Sensex Opens Lower; Metal Stocks Under Pressure Wed, 12 Aug 09:30 am
Asian stock markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 1.6% while the Hang Seng is down 0.4%. The Nikkei 225 is trading up by 0.2%.
Meanwhile, among global indices, US stocks closed lower on Tuesday, with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.
Back home, Indian share markets have opened lower today.
The BSE Sensex is trading down by 226 points.
The NSE Nifty is trading lower by 67 points.
Meanwhile, the BSE Mid Cap index has opened down by 0.5%.
BSE Small Cap index is also trading lower by 0.4%.
Sectoral indices are trading mixed with BSE Metal Index under pressure.
BSE Power Index is witnessing buying interest, with KEC and BHEL among the top gainers today.
Moving on, the rupee is currently trading at 74.91 against the US$.
Gold prices are currently trading down by 5.5% at Rs 51,929.
Gold and silver prices crashed in India today, tracking a similar move in global rates.
On MCX, October gold futures fell 5% to Rs 52,390 per 10 grams, their second decline in three days. Silver futures on MCX fell 7% to Rs 69,980 per kg.
In the previous session, gold prices had edged 0.4% higher while silver had surged 2%
On Friday, gold had slumped nearly 1,000 per 10 grams. Last week, gold had hit a record high of Rs 56,191 in Indian markets amid a global rally.
In global markets, gold prices plunged today, pressurized by a stronger dollar and profit-taking. Expectations of a US stimulus deal also boosted risk appetite. Spot gold was down 4.2% to US$1,941.7 per ounce, from last week's record of US$2,072.50.
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.
So, is it time to book profits in gold and silver?
In this video below, India's no. 1 trader, Vijay Bhambwani tells what he thinks you should do with your bullion holdings.
Tune in here:
To know more about gold, just visit our Youtube Playlist on gold investing. Get trading ideas on gold by India's #1 trader Vijay Bhambwani. Find out the right way to profitably trade gold now.
Moving on to the stock specific news...
Adani Ports and Special Economic Zone is among the top buzzing stocks today.
The company has reported a 26.2% year-on-year decline in consolidated profit at Rs 7.6 billion for 1QFY21, impacted by the lockdown.
Consolidated revenue from operations fell 18% to Rs 22.3 billion compared to same period last year as cargo throughput dropped YoY.
During July, Adani Ports handled cargo volumes of 18.3 million tonne, a growth of 6% YoY and 31% month-on-month.
The management stated that this trend makes them confident that worst is behind and going forward cargo volume in FY21 is expected to stabilize.
The shift from road to rail and increase in services enabled Adani Logistics to achieve a revenue of Rs 2 billion, up 10% YoY.
At operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 24.5% YoY and margin declined 530 bps to 60.8%.
Adani Ports share price opened the day up by 2.2%.
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
Indian Share Market Update: Top Gainers and Losers
ABOUT EQUITYMASTER
Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.
PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
- Multibagger Penny Stocks
- Basics of Value Investing
- Benjamin Graham
- How to Invest in Gold
- How to Invest in Silver
- Best Stocks to Buy Today
- Best Small-cap Stocks to Buy
- Best Bluechip Stocks to Buy
- Guide to Penny Stocks
- How to Invest in the Share Market
- Warren Buffett - The Value Investor
- Pick the Best Multibagger Stocks
TRENDING TOPICS
Copyright © Equitymaster Agora Research Private Limited.
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407
Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com
LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
Equitymaster requests your view! Post a comment on "Sensex Opens Lower; Metal Stocks Under Pressure". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!