Sensex Trades 178 Points Lower; Dow Futures Up by 57 Points

Thu, 26 Nov 12:30 pm

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Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 178 points, down 0.4% at 43,650 levels.

Meanwhile, the NSE Nifty is trading down by 50 points.

Grasim and Mahindra & Mahindra are among the top gainers today. Eicher Motors and Maruti Suzuki are among the top losers today.

The BSE Mid Cap index is trading down by 0.1%.

The BSE Small Cap index is trading flat.

On the sectoral front, stocks from the banking sector are witnessing most of the selling pressure.

On the other hand, stocks from the telecom sector are witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street indices.

Nasdaq Futures are trading up by 40 points (up 0.3%) while Dow Futures are trading up by 57 points (up 0.2%).

The rupee is trading at 73.84 against the US$.

Gold prices are trading up by 0.2% at Rs 48,602 per 10 grams.

In global markets, gold prices were slightly higher today amid a pause in rally in traditional risk assets. The yellow metal was also supported by disappointing US jobs data and a resurgence of Covid-19 cases worldwide.

Tracking global cues, gold prices edged higher in Indian markets, though the gains were moderate. On MCX, gold futures rose 0.2% to Rs 48,594 per 10 grams.

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.

The recent price volatility in the bullion market has rattled many traders. Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

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

Moving on to stock specific news...

Among the buzzing stocks today is Siemens.

On November 25, Technology major Siemens reported a 4.7% year-on-year (YoY) fall in net profit at Rs 3.3 billion for September quarter. The company's profit was impacted mainly due to expenses amounting to Rs 2.8 billion incurred during the lockdown period.The company follows October-September financial year.

The company also saw its revenue from operations decline 9.2% to Rs 34.2 billion over the corresponding quarter of the previous year.During the quarter, new orders from continuing operations grew 8.7% at Rs 32.2 billion as compared to the year-ago period. The company has a strong order backlog of over one year's revenue, partially on account of the period of lockdown in the country, which resulted in reduced revenues.However, despite the volatility in the business environment with core industrial sectors being negatively impacted, there are now initial signs of an uptick across some market segments post lockdown. Its focus continues to be on profitable growth in the Energy, Industry, Infrastructure and Mobility businesses.

The company believes that increased government spending on infrastructure will also have a cascading impact on demand.

The company announced a dividend payment of Rs 7 per equity share.

At the time of writing, Siemens share price was trading up by 9.6% on the BSE

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how he knew when to turn bullish on the market, in his latest video for Fast Profits Daily.

In the video below, Vijay shares his unconventional 360 degree approach that told him the markets were looking positive in May when everyone said they were going to crash like they did in March.

Tune in here to find out more:

Moving on to news from the pharma sector...

Laurus Labs to Acquire 72.5% Stake in Richcore Life Sciences

Laurus Labs has signed a definitive agreement to acquire a 72.5% stake in Bengaluru-based Richcore Lifesciences for Rs 2.5 billion.

This acquisition marks Laurus Labs' entry into the broader biologics and biotechnology segments, providing the company access to its high growth areas, globally and in India.

With this acquisition, Laurus adds a fourth revenue stream to its three existing divisions - API, formulations and synthesis.

Richcore, a fast-growing biotechnology company based in Bengaluru with its advanced research and development and manufacturing facilities, develops and manufactures biotech products critical for manufacturing biological drugs.

It also helps its global customers develop and scale-up their bioprocesses by providing contract research, development, and manufacturing services.

The company is currently in its growth phase and has raised funding from Eight Roads Ventures, VenturEast Proactive Fund and VenturEast Life Fund III.

Following the successful closure of the transaction, Richcore will be renamed Laurus Bio.

The current promoters of Richcore led by Subramani Ramachandrappa will continue as promoters and will be responsible for its management and operations.

Laurus Labs will fund the acquisition from its internal accruals and this acquisition will be revenue and Profit After Tax (PAT) accretive.

The deal will be closed on or before March 31, 2021.

We will keep you updated on all the news 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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