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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Todays Market
- Indian Stock Market News April 21, 2020
Sensex Opens Over 800 Points Down; Oil & Gas Stocks Plunge Tue, 21 Apr 09:30 am
Asian stock markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 1% while the Hang Seng is down 2.4%. The Nikkei 225 is trading down by 1.6%. Wall Street tumbled on Monday after US crude futures turned negative for the first time ever.
Back home, India share markets plunged in the opening session backed by weak global cues amid historic drop in oil futures' prices. The BSE Sensex is trading down by 805 points while the NSE Nifty is trading down by 228 points. The BSE Mid Cap index and BSE Small Cap index opened down by 0.9% and 0.1% respectively.
All sectoral indices are trading in the red with oil & gas stocks, bank stocks and automobiles stocks witnessing maximum selling pressure.
Gold prices are currently trading down by 0.1% at Rs 45,714.
The rupee is currently trading at 76.66 against the US$.
In the news from oil space. US crude oil futures collapsed below US$0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus US$37.63 a barrel as desperate traders paid to get rid of oil.
Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available worldwide.
It however rebounded today, with US crude turning positive after trading below US$0 for the first time ever, but gains were capped amid unresolved concerns about how the market can cope with fuel demand decimated by the coronavirus pandemic.
Speaking of stock markets and oil prices, in the video below, Ajit Dayal, founder of Quantum group, shares his views on the impact of the Coronavirus crisis and the oil price war on the Indian economy and the stock market.
He also talks about the market crash and how to invest your hard-earned money across various assets in these difficult times.
Watch now...
Meanwhile, in one of the articles, we have written the entire timeline showing economics of falling crude oil prices. You can check the same here: All About the Crash in Crude Oil - 10 Points.
In another news, gold prices on Monday, 20 April, plunged Rs 44 to Rs 45,691 per 10 gram in futures trade as participants were engaged in profit-booking at prevailing levels in tandem with the yellow metal slipping overseas.
On the Multi Commodity Exchange, gold prices for June delivery fell by Rs 44, or 0.1%, to Rs 45,691 per 10 gram in a business turnover of 16,959 lots.
In the international market, gold was trading lower at US$1,677 per ounce, while silver was flat at US$15.18 per ounce.
Speaking of gold, you will be surprised to know that the safe haven has outperformed equities over a 15-year period.
Have a look at the chart below:
An equal amount of Rs 100 invested in both gold and Sensex in 2004 would have generated higher returns in gold by a wide margin.
Your total investment in gold and Sensex would be valued at Rs 687 and Rs 410, respectively.
So, investors in gold are happier than investors in Sensex or equities at this moment.
Also speaking of gold, in his latest video, Vijay Bhambwani explains why the bull market in gold may get bumpy going ahead.
You can check the same here: A Timely Warning About Gold.
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
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