Sensex Ends 215 Points Lower; Telecom and IT Stocks Witness Selling

Fri, 22 Nov Closing

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India share markets witnessed selling pressure during closing hours and ended their day on a negative note.

At the closing bell, the BSE Sensex stood lower by 215 points (down 0.5%) and the NSE Nifty stood down by 54 points (down 0.5%).

The BSE Mid Cap index ended the day down 0.1%, while the BSE Small Cap index ended the day flat.

Sectoral indices ended on a mixed note. Stocks in the telecom sector and IT sector witnessed huge selling pressure, while metal stocks were trading in the green.

The rupee was trading at 71.79 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.48% and the Shanghai Composite was down by 0.63%. The Nikkei 225 was up 0.32%.

European markets were trading on a positive note. The FTSE 100 was up by 1.06%. The DAX was trading up by 0.16%, while the CAC 40 was also up by 0.25%.

In the news from the commodity space, gold was witnessing buying interest today.

Gold prices rose as doubts prevailed over an interim trade deal being reached between the United States and China this year.

As per news reports, China invited top US trade negotiators for a new round of face-to-face talks in Beijing in efforts to strike a deal, after it was known that a 'phase one' trade deal may not be inked this year.

Prices also scaled up midweek on sensitive worries that a Sino-US trade deal could hit a hurdle as the US Senate passed a bill to back up Hong Kong anti-government activists. Prices recovered after news that US-China first phase trade deal will not be completed this year.

Note that gold prices have been weighed down early this week as optimism grew about US-China trade ties following a report of "constructive talks" over the weekend, while losses were capped by a softer dollar.

Gold is considered a safe store of value during times of economic or political uncertainty.

What effect the US-China trade talks have on gold in the coming days remains to be seen. We will keep you updated on all the developments from this space.

Speaking of gold, how lucrative gold has 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 Ankit Shah wrote about this in a recent edition 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.
  
  If you grab a pie of the big money-making opportunities beyond stocks, I would strongly insist you attend Vijay's Weekly Cash Summit here (It's free).

Meanwhile, Vijay Bhambwani talks about how gold has been relied upon by humankind for 3000 years in one of his videos.

If you consider street inflation, your fixed deposits are giving negative yields. In times like these, Vijay considers gold as a safe haven.

So, is it the time to buy gold?

Tune in to find out...

In the news from the finance space, DHFL share price was in focus today as the Reserve Bank of India (RBI) constituted a three-member advisory committee to help the administrator of Dewan Housing Finance Corporation Ltd (DHFL) discharge his duties.

The advisory committee comprises Rajiv Lall, non-executive chairman, IDFC First Bank Ltd, NS Kannan, managing director and CEO, ICICI Prudential Life Insurance Co. Ltd, and NS Venkatesh, chief executive, Association of Mutual Funds in India.

The central bank said the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, provide for the concerned financial sector regulator appointing a Committee of Advisors to advise the Administrator in the operations of the financial service provider during the corporate insolvency resolution process.

Note that on 20 November, RBI superseded the board of DHFL and appointed an administrator in its place, in a step towards referring the debt-laden mortgage lender to a bankruptcy court.

The regulator named R. Subramaniakumar, former managing director and chief executive of Indian Overseas Bank, as the administrator for DHFL.

With this, DHFL is set to become the first non-bank lender to be referred to the National Company Law Tribunal (NCLT) under new rules notified by the government on 15 November.

The central bank cited governance concerns and payment defaults by DHFL as the reasons for superseding the board.

We will keep you updated on how the above process proceeds. 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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