Sensex Trades Marginally Higher, Dow Futures Up by 179 Points

Mon, 27 Sep 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 63 points, up 0.1%, at 60,111 levels.

Meanwhile, the NSE Nifty is trading up by 10 points.

Maruti Suzuki and Tata Motors are among the top gainers today. HCL Technologies and Divi's Lab are among the top losers today.

The BSE Mid Cap index is trading down by 0.3%

The BSE Small Cap index is trading down by 0.04%.

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

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

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

Nasdaq Futures are trading up by 50 points (up 0.3%) while Dow Futures are trading up by 179 points (up 0.5%).

The rupee is trading at 73.61 against the US$.

Gold prices are trading up by 0.2% at Rs 46,082 per 10 grams.

Gold prices edged higher in Indian markets today, tracking positive global cues. On MCX, gold futures rose 0.3% to Rs 46,147 per 10 grams. In the previous session, gold had edged 0.1% lower to near six-month lows. Note that gold has been volatile this year after hitting record high of Rs 56,200 last year.

In global markets, gold prices rose above US$ 1,750 as uncertainty over China's Evergrande saga boosted the safe-haven appeal of the precious metal. Spot gold rose 0.5% to US$ 1,757.8 per ounce. A downtick in US dollar also helped support gold.

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.

Even with the recent volatility in prices, gold and silver remain 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 KPR Mill.

Shares of KPR Mill rallied 9% on the BSE to hit an all-time high in intraday trade today after the company carried out a stock split in the ratio 1:5.

In the past one month, the stock has soared 42%, compared to a 7.2% rise in the S&P BSE Sensex. In the past six months, it has zoomed 137%, against a 23% gain by the benchmark index.

Indian apparel companies are expected to achieve double-digit growth in the financial year 2022 with support from the Government of India (GoI).

The GoI in the Union Budget 2021-2022 announced that it would launch seven mega textile parks in three years (two parks in Tamil Nadu) to enable the textile industry to attract large investments, generate employment, and become globally competitive.

The scheme is expected to create world class infrastructure, with plug-and-play facilities to enable and create global champions in exports.

With large international buyers already looking at increasing their sourcing from India, the formation of textile parks should help India gather a bigger share of the apparel and textile export trade.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

At the time of writing, KPR Mill shares were trading up by 3.5% on the BSE.

Speaking of the stock market, India's #1 trader, Vijay Bhambwani shares how you can profit from the alcohol stocks cycle, in his latest video for Fast Profits Daily.

Moving on to news from the media sector...

Inox Leisure, PVR Shares Rally Upto 18%

Shares of multiplex owners Inox Leisure and PVR climbed up to 18% in Monday's trade, after the Maharashtra government announced the reopening of cinema halls and drama theatres in the state from 22 October, ahead of Diwali.

Note that theatres and movie halls across India have been closed since April this year. Following the development, shares of Inox Leisure soared 17.8% to hit a high of Rs 412.2 on BSE while PVR climbed 10% to hit a high of Rs 1,662.2.

Except a few states, including Maharashtra and Kerala, many others have already permitted resumption of operations in cinema halls from 30 July 2021. Post Maharashtra, it is expected that other states would lift the capacity restrictions in the absence of a third wave of Covid-19. Maharashtra, based on industry estimates, contributes 25-30% of total multiplex revenues in a normal year.

We will keep you posted on more updates from this space. Stay tuned.

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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