Sensex Trades in Green; IndusInd Bank & HDFC Top Gainers

Thu, 27 Aug 12:30 pm

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Share markets in India are presently trading near their 6-month highs, taking cues from global markets.

The BSE Sensex is trading up by 178 points, up 0.5%, at 39,250 levels. The Sensex is trading above the 39,000-mark for the first time since February 27.

Meanwhile, the NSE Nifty is trading up by 53 points. Top gainers in NSE today include Tata Motors and IndusInd Bank.

The BSE Mid Cap index is trading up by 0.5%.

The BSE Small Cap index is trading up by 0.8%.

On the sectoral front, gains are largely seen in the realty sector and finance sector.

Realty stocks rallied today after the Maharashtra government cut stamp duty. The state government on Wednesday decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021 to March 31, 2021.

The rupee is trading at 74.32 against the US$.

Gold prices were trading down by 0.2% at Rs 51,665 on MCX at the time of writing.

Gold prices eased today tracking a muted trend in the international spot gold prices as investors waited for Federal Reserve Chairman Jerome Powell's address later in the day.

From August 7th highs of about Rs 56,200, gold is down more than Rs 4,400 per 10 grams.

However, prices are finding support amid fast rising coronavirus cases.

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.

Even with the recent volatility in prices, gold and silver remain among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

So, is it time to buy or hold gold and silver at current levels? Or should you buy platinum?

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.

Moving on to stock specific news...

Hindustan Aeronautics is among the top buzzing stocks today.

Hindustan Aeronautics share price witnessed huge selling and tumbled over 12% after it was reported the government will sell up to 15% stake in the company via offer for sale (OFS).

While the government proposes to sell 3,34,38,750 equity shares representing 10% paid-up share capital of the company (base offer size), there is an option to sell an additional 5% stake or 1,67,19,375 equity shares (oversubscription option).

In news from the telecom sector, the Telecom Regulatory Authority of India (TRAI) said that the industry lost over 5.6 million wireless subscribers in May amid the nationwide lockdown.

The overall telecom subscriber base for wireless connections stood flat at 1.14 billion in May, compared to 1.14 billion in April.

Even as there was an overall decline in the subscriber base, Reliance Jio continued adding subscribers to its base, with over 3.65 million user additions during the month. This took the company's total tally to 392.7 million users.

Both Bharti Airtel and Vodafone Idea continued to lose subscribers. Airtel lost over 4.74 million subscribers and Vodafone Idea lost 4.72 million taking their respective subscriber base to 317.8 million and over 309.9 million.

State-run BSNL added over 200,000 new connections taking its subscriber base to over 119.9 million.

The number of wireless subscribers, including 2G, 3G and 4G, declined 0.5% in May. In urban areas, the number of wireless users fell from 629 million at the end of April to 620 million as of 31 May, while it increased in rural areas from 520 million in April to 523 million as of 31 May. This led to a 0.7% monthly growth in rural wireless subscriptions.

India had lost 8.2 million telecom users in April, nearly four times the subscribers lost in March due to the strict nationwide lockdown.

How this trend pans out in the coming months remains to be seen. Meanwhile, we will keep you updated on all the developments 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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Indian Share Market Update: Top Gainers and Losers