Sensex Trades Over 500 Points Higher; Dow Futures Up by 176 Points

Thu, 5 Nov 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 570 points, up 1.4%, at 41,186 levels.

Meanwhile, the NSE Nifty is trading up by 164 points.

SBI and BPCL are among the top gainers today . Hero MotoCorp and Divi's Laboratories are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap index are trading up by 1.4%.

On the sectoral front, stocks from all sectors are trading in green with stocks from the metal sector witnessing most of the buying interest.

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

Nasdaq Futures are trading up by 169 points (up 1.4%), while Dow Futures are trading up by 176 points (up 0.6%).

The rupee is trading at 74.26 against the US$.

Gold prices are trading up 0.8% at Rs 51,239 per 10 grams.

Gold prices in domestic markets rose today after suffering sharp losses in the previous session. In the previous session, gold futures fell as much as Rs 800. However, in global markets, gold prices were steady even though the possibility of a contested US election result remains.

Note that gold prices are still down Rs 5,000 in Indian markets from their August highs. However, the precious metal may benefit from safe-haven buying amid increasing challenges to global economy

To know more about gold, visit our YouTube Playlist on gold investing.

Speaking of the stock markets, India's #1 trader Vijay Bhambwani talks about what will happen if Joe Biden wins the US Presidential election, in his latest video for Fast Profits Daily.

In the video below, Vijay dissects Joe Biden's policies and how India will be affected by them.

So, how will the markets react? Will President Biden's policies have a negative impact on your portfolio?

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Pidilite Industries.

On November 4, Pidilite Industries reported a 9.6% increase in its consolidated net profit at Rs 3.6 billion for the September quarter.

The company, a leading manufacturer of adhesives, sealants and construction chemicals posted a profit of Rs 3.2 billion in the same period a year ago. This increase in profitability was aided by benign input costs as well as strong cost optimization measures.

Its revenue from operations rose 4.1% at Rs 18.8 billion during the quarter under review, as against Rs 18 billion in the year-ago period, it said in a regulatory filing.

The company's profit after tax (PAT) also grew by 10% to Rs 3.5 billion over the same quarter last year due to tax reversal in the prior year with a reduction in the corporate tax rate. On a like to like basis, PAT grew by 34%.

The company saw steadily improving demand conditions during the quarter. It's Consumer and Bazaar businesses grew volumes aided by strong growth in the rural and semi-urban areas. Its B2B businesses as well as the metros while improving sequentially have still to reach pre-Covid levels.

We will keep you updated on all the news from this space. Stay tuned.

At the time of writing, Pidilite Industries share price was trading up by 2.3% on the BSE.

Moving on to news from the energy sector...

Adani Gas Signs Geographical Acquisition Agreement to Expand CNG Network

Adani Gas has signed a definitive agreement for the acquisition of three geographical areas (GAs) namely Ludhiana, Jalandhar and Kutch (East).

All 3 GAs have a high volume potential in terms of demand of over 6.5 Million Metric Standard Cubic Meter Per Day (MMSCMD) over a period 10 Years. The GA's are under Phase 1 of the Bharat Mala Pariyojana by NHAI which will further boost the development and volume growth of the company.

This acquisition offers gains to more than 1 million households, more than seven lakh CNG vehicles and a large number of industrial and commercial customers.

Ludhiana and Jalandhar, the twin cities of Punjab, are major industrial and commercial hubs with a high-volume potential of CNG and PNG homes. Both cities are in the vicinity of the pipeline connectivity.

Adani Gas already has a strong presence in Gujarat and Kutch (East) is poised to take centre stage for the industrial development in the state. The city is well-connected with the pipeline and R-LNG terminal infrastructure making it an attractive destination for the development of a compressed gas network.

Given the availability of pipeline connectivity in the surroundings, all 3 GAs shall offer early monetisation opportunities to the company.

With the addition of these GAs, the company will now have a presence in 22 GAs as a standalone entity and additional 19 GAs with joint venture partner - IOCL, aggregating its tally to 41 GAs (74 districts) ensuring the company's continued leadership in the compressed gas business in India.

How this expansion pans out remains to be seen. Stay tuned for more updates from this space.

Speaking of the stock markets, a right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you fare well when you average the outcomes.

According to Richa Agarwal, Senior Research Analyst at Equitymaster, any investment process should not be judged based on individual outcomes. Instead, it should have stood the test of the time.

Her smallcap service Hidden Treasure has had its fair share of failures. But sticking to a disciplined process meant that Hidden Treasure's internal rate of return (IRR) increased to 24.38% since inception. This compares favorably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.

The service's performance did suffer in the short term after the 2018 crash in smallcaps. However, the long term track record and the post Covid rebound underscores the strength of stock picking process.

If you are interested in becoming a Hidden Treasure subscriber, here's where you can sign up.

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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