Sensex Trades in Green; Bajaj Auto & Hero MotoCorp Top Gainers

Thu, 21 May 12:30 pm

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Share markets in India are presently trading on a positive note, tracking firm cues from global markets.

The BSE Sensex is trading up by 183 points, up 0.6%, while the NSE Nifty is trading up by 65 points.

The BSE Mid Cap index is trading up by 1.5%, while the BSE Small Cap index is trading up by 1.3%.

On the sectoral front, gains are largely seen in the automobile sector, metal sector, and banking sector.

The rupee is trading at 75.77 against the US$.

Speaking of stock markets, in his latest video, Rahul Shah, talks about how you can be 'Aatma Nirbhar' or self-reliant in your stock selection. He talks about some simple methods and principles so that you are able to buy stocks on your own and not be dependent on anyone.

Tune in to find out more...

Moving on, market participants are tracking Bajaj Finserv share price, Hawkins Cookers share price, and Colgate Palmolive share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Ultratech Cement, Bajaj Auto, L&T Infotech, Nesco, Sanofi India, Apollo Tyres.

In news from the commodity space, domestic gold prices edged lower today for the first time in three days. On (Multi Commodity Exchange MCX), June gold futures fell 0.6% to Rs 46,845 per 10 grams.

Tracking gold, silver futures slumped 1.6% to Rs 48,255 per kg.

Last week, gold prices had hit a new high of Rs 47,980 tracking rally in global rates amid increasing US-China tensions and expectations of further stimulus from central banks.

In global markets, gold prices eased today but losses were capped amid US-China tensions.

Spot gold slid 0.6% to US$ 1,738.97 per ounce. US gold futures slipped 0.6% to US$ 1,740.80.

The US Senate passed a bill that could bar some Chinese companies from listing on American exchanges.

Earlier this week on Monday, gold rallied to its highest since October 2012, driven by economic damage concerns, US-China tensions, and massive monetary and fiscal stimulus.

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 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."

Also speaking of gold, note that the interest in gold has gone up ever since stock markets crashed in March. Gold prices in the international markets are getting close to its all-time high.

But bitcoin has been on an up move too. It's price in dollars has almost doubled in the last two months.

In his latest video, Apurva Sheth, lead chartist at Equitymaster, compares gold and bitcoin. He explains, which is the better asset in this difficult economic situation.

Tune in to his video here...

Moving on to news from the pharma sector, Strides Pharma Science has obtained regulatory approval to conduct clinical trials of antiviral drug favipiravir, a potential treatment for COVID-19.

The company has received approval from the Drug Controller General of India to conduct trials of favipiravir in the country.

Strides Pharma Science share price is presently trading up by 1.2%.

In other news, JB Chemicals share price is in focus today. US private equity giant KKR & Co. Inc. has emerged as the front-runner to buy a 51% stake in JB Chemicals, which manufactures popular over-the-counter drugs rantac and metrogyl.

Reportedly, the proposed acquisition, which would include an open offer, could cost Rs 25-30 billion in an all cash deal that is likely within a month.

Rothschild and Co. has been appointed merchant banker by JB Chemicals for the proposed stake sale.

For the past few months, the Mumbai-based pharma company had been discussing the majority stake sale with several private equity players.

Speaking of the pharma sector, in December 2019, co-head of Research at Equitymaster, Tanushree Banerjee had predicted that pharma could be the sector to see a big rebound in 2020.

And rightly so, most pharma companies have re-emerged as the safer bets for investors in the ongoing market turmoil. Last month, the Indian rupee touched a new record low of Rs 76.92 against the US dollar. Most pharma companies generate their revenues through exports. Hence, a depreciating rupee is a positive development for them.

As per Tanushree, in a post Covid-19 world, healthcare expenditures globally will see a big rejig.

Tanushree has her eyes on an exciting tech stock. The company in question is developing its medical division. It's focusing on telemedicine, which Tanushree believes will be a huge growth driver in a post Corona world.

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