Sensex Trades Over 300 Points Higher, Dow Futures Up by 71 Points

Tue, 19 Oct 12:30 pm

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Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 377 points, up 0.6%, at 62,142 levels.

Meanwhile, the NSE Nifty is trading up by 85 points.

Tech Mahindra and L&T are among the top gainers today. ITC and Eicher Motors are among the top losers today.

The BSE Mid Cap index is trading flat.

The BSE Small Cap index is trading up by 0.2%

On the sectoral front, stocks from the software sector are witnessing most of the buying interest.

On the other hand, stocks from the real estate sector are witnessing most of the selling pressure.

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

Nasdaq Futures are trading up by 35 points (up 0.2%) while Dow Futures are trading up by 71 points (up 0.2%).

The rupee is trading at 75.34 against the US$.

Gold prices are trading up by 0.3% at Rs 47,437 per 10 grams.

Gold prices inched higher in Indian markets today as a decline in the US dollar and US bond yields provided some support to the precious metal.

On MCX, gold futures were up 0.1% to Rs 47,319 per 10 grams. In the previous session, gold prices fell down by Rs 741 to Rs 47,384 per 10 grams tracking a sharp fall on Friday in global markets.

The precious metal was also pressured by surging 10-year Treasury yield and strength in the dollar.

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 IEX.

Shares of Indian Energy Exchange (IEX) hit their upper circuit limit of 20% on the exchanges today after the company said it would consider the issue of bonus shares.

In a regulatory filing, the company said,

• The company's board of directors are scheduled to meet on Thursday, 21 October 2021, to consider the proposal of bonus issue of equity shares subject to the approval of the shareholders of the company.

The board will also consider and approve the financial results for the quarter and half year ended September 2021.

Shares of IEX have soared as much as 360% in the last year and 55% in the last one month.

IEX is the premier electricity exchange in India, which enjoys a near monopoly status in energy exchange business. It commands a market share of around 95% in the power exchangemarket.

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

At the time of writing, IEX shares were trading up by 15.5% on the BSE.

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report shares his view on housing finance stocks, in his latest video for Fast Profits Daily.

Moving on to news from the smallcap space...

TTK Prestige Hits Record-High as Board Considers Stock Split

Shares of TTK Prestige zoomed 20% on the exchanges in intraday trade today to hit a record high after the company said it plans to consider the proposal of a stock split on 27 October 2021.

The stock surpassed its previous high of Rs 9,580 touched on 5 July 2021.

A stock split is generally done to make the scrip more affordable for small retail investors and increase liquidity.

Existing shares are split, but the underlying value remains the same. As the number of shares increases, the price per share goes down.

As of 30 September 2021, TTK Prestige had 13.7 m outstanding equity shares.

The promoter and promoter group held a 70.4% stake, while the remaining 29.6% was held by public shareholders including mutual funds (13.1%), foreign portfolio investors (9.9%) and individual shareholders (5.1%).

With increased mobility and optimistic outlook on the consumer confidence index, analysts expect consumer durables companies to continue with their growth momentum. TTK Prestige is likely to grow as well.

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

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these for stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

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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