Sensex Falls 200 Points; TCS & HDFC Bank Top Losers

Mon, 20 Jan 12:30 pm

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Share markets in India have erased early gains and are presently trading on a negative note.

Benchmark indices rose to their respective all-time highs in early trade today, with the BSE Sensex rising over 300 points to a record high of 42,273.87, while the NSE Nifty touched 12,430.50, rising 78 points.

Sectoral indices are trading mixed with stocks in the energy sector and IT sector witnessing selling pressure, while telecom stocks and FMCG stocks are witnessing buying interest.

The BSE Sensex is trading down by 184 points, while the NSE Nifty is trading down by 55 points.

The BSE MidCap index is trading down by 0.2%, while the BSE SmallCap index is trading down by 0.1%.

The rupee is currently trading at Rs 71.05 against the US$.

In news from the commodity space, gold prices in India slipped today, tracking muted global rates.

After rallying more than 1% in previous three trading sessions on the hopes of improving consumer demand following the phase one trade deal signed between the US and China, gold rates remained rangebound as strong US economic data increased investors' appetite for riskier assets.

Data released on Friday showed US homebuilding surged to a 13-year high last month while factory production increased for a second straight month.

On MCX, February gold futures prices slipped 0.1% to Rs 39,915 per 10 gram.

Silver prices also declined. Silver futures on MCX declined 0.1% to Rs 46,706 per kg.

Speculators cut their bullish positions in COMEX gold contracts in the week to January 14 while holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 2.2% to 898.8 tonnes.

Demand for gold remained muted in India, even though prices came off from their record highs of Rs 41,300 per 10 gram, hit earlier this month.

Speaking of gold, 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...

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, the editor of daily premium newsletter Equitymaster Insider wrote about this in one of the editions 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."

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...

Moving on to news from the IT sector, HCL Technologies on Friday report a net profit of Rs 30.4 billion in the December quarter (Q3FY20).

The IT major posted revenue growth of 2.1% q-o-q and 16.4% y-o-y in constant currency terms, delivering a strong 20.2% earnings before interest and taxes.

The company said the strong performance was led by double-digit growth across three segments.

Products and platforms grew by 72.8%, IT and business services by 10.4%, and engineering and research and development (R&D) services by 12.8% (on y-o-y constant currency basis).

The company raised its full-year revenue growth guidance to 16.5-17% in constant currency terms from 15-17% earlier.

Further, the company expects FY20 operating margin (EBIT) to come in the range of 19-19.5% from 18.5-19.5% earlier.

HCL Technologies share price is presently trading down by 0.6%.

To know more, you can read HCL Technologies' Q3FY20 result analysis on our website.

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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