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- Indian Stock Market News August 20, 2021
Sensex Trades Marginally Lower, Dow Futures Down by 88 Points Fri, 20 Aug 12:30 pm
Share markets in India are presently trading marginally lower.
The BSE Sensex is trading down by 224 points, down 0.4%, at 55,405 levels.
Meanwhile, the NSE Nifty is trading down by 100 points.
HUL and Bajaj Finance are among the top gainers today. Tata Steel and JSW Steel are among the top losers today.
The BSE Mid Cap index is trading down by 1.4%.
The BSE Small Cap index is trading down by 1.2%.
On the sectoral front, all sectors are trading in red with stocks from the metal sector witnessing most of the selling pressure.
US stock futures are trading lower today, indicating a negative opening for Wall Street indices.
Nasdaq Futures are trading down by 18 points (down 0.2%) while Dow Futures are trading down by 88 points (down 0.3%).
The rupee is trading at 74.41 against the US$.
Gold prices are trading up 0.4% at Rs 47,347 per 10 grams.
Gold prices continued to struggle in India amid weak global cues. On MCX, gold prices edged 0.2% higher to Rs 47,240.
Note that gold prices have swung wildly in recent days, falling to a four-month low of Rs 45,600 last week and then recovering to nearly Rs 48,000 intra-day yesterday. Gold had hit a record high of Rs 56,200 last year.
In global markets, spot gold was flat at US$ 1,780.4 per ounce. A stronger US dollar weighed on precious metals despite rising anxiety over increasing cases of coronavirus' Delta variant that could delay economic recovery.
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 Tata Elxsi.
Tata Elxsi has collaborated with DStv Media Sales, a media sales organisation, to consult and collaboratively build a vision for the company's future growth.
DStv Media Sales (DMS) specializes in advertising on DStv's digital platforms and linear channels. The company's mission is to assist global and local companies in reaching a larger audience across Africa and expanding their brand presence with unique platforms and creative advertising.
As part of the major transformation goals set by the company, Tata Elxsi will establish an integrated cross-platform for linear and digital ad sales workflows.
The technology platform is expected to support the entire process, from media insights and analytics, bespoke campaign design and budget allocation, to campaign management, optimisation, and post-campaign expenditure analysis.
It will also include a custom programmatic trading portal that powerfully blends design and digital technologies to make it intuitive, easy and simple for DMS specialists, brand managers and media planners to develop and deploy omni-channel advertising campaigns.
DStv media sales division was established about 20 years ago as part of the MultiChoice Group, providing dynamic media solutions; handling commercial airtime, on-air sponsorships, content integration, and online sales across a variety of 130+ channel brands on linear TV, VOD, social media, and digital platforms.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, Tata Elxsi shares were trading up by 1.1% on the BSE.
Speaking of the stock market, India's #1 trader, Vijay Bhambwani shares the immediate impact of the Taliban on the Indian stock market, in his latest video for Fast Profits Daily.
Moving on to news from the IPO space...
CarTrade Shares Debut at 1.1% Discount to Issue Price
Shares of multi-channel auto platform CarTrade made a weak debut on the exchanges as the stock listed with a 1.1% discount to its issue price of Rs 1,618 per share.
The stock opened at Rs 1,600 on the BSE and Rs 1,599.8 on the NSE.
The public offer had received healthy response from investors last week as it was oversubscribed by 20.3 times.
The portion set aside for qualified institutional buyers was subscribed 35.5 times and that of non-institutional investors was subscribed 41 times. The retail portion was booked 2.75 times.
The company had mopped up Rs 30 bn through its initial public offering (IPO).
It was a complete offer for sale by existing shareholders including JP Morgan's CMDB II, Highdell Investment, Macritchie Investments, and Springfield Venture International.
CarTrade Tech is a multi-channel auto platform with coverage and presence across vehicle types and value-added services, providing services through platforms under several brands - CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz.
Its several platforms enable new and used automobile customers, vehicle dealerships, vehicle OEMs and other businesses to buy and sell their vehicles.
The company operates on an asset-light business model, operating only 114 automalls, a large majority of which are leased or rented from third parties.
The company has invested in building technology platforms that can manage considerably increased offerings without requiring sizeable additional investments, and its growing scale has resulted in a decrease of the share of fixed costs.
How the stock performs in the long term remains to be seen. Meanwhile, stay tuned for more updates from this space.
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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