Sensex Trades Over 400 Points Higher; Dow Futures Up by 334 Points

Mon, 9 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 425 points, up 1%, at 42,318 levels.

Meanwhile, the NSE Nifty is trading up by 118 points.

Divi's Laboratories and ICICI Bank are among the top gainers today . Cipla and Adani Ports & SEZ are among the top losers today.

The BSE Mid Cap index is trading up by 0.4%.

The BSE Small Cap index is trading up by 0.2%.

On the sectoral front, all sectors are trading in green with stocks from the telecom 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 270 points (up 2.2%), while Dow Futures are trading up by 334 points (up 1.2%).

The rupee is trading at 73.91 against the US$.

Gold prices are trading up 0.4% at Rs 52,374 per 10 grams.

Gold prices in domestic markets moved higher today as the precious metal extended recent gains in the global market. Globally, gold prices edged higher supported by a weak dollar and hopes of more US stimulus amid optimism about the outlook under a Joe Biden presidency.

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

Speaking of the stock markets, Co-Head of Research at Equitymaster, Tanushree Banerjee talks about what to expect from stocks during the Covid second wave in her latest video.

In the video below, Tanushree discusses how a resurgence of the virus could erode stock market gains once again after the market crash in March 2020.

So, what should you expect from the stock markets this time? And how should you prepare your stocks so that they could make the most of the Covid second wave?

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Adani Gas.

The Adani Group added a new chapter to its legacy of nation-building by announcing a strategic collaboration with Italy-based Snam, Europe's leading gas infrastructure company.

The collaboration would envisage exploration of the hydrogen value chain in India and global markets, as well as the development of biogas, biomethane, and low-carbon mobility.

As part of the strategic partnership, Adani Group and Snam intend to explore several opportunities in the energy space, where each Group brings complementary capabilities to the table.

Both the Adani Group and Snam have a strong interest in exploring the promise of green hydrogen. While Snam has been a strong proponent of hydrogen adoption in Europe, green hydrogen is a natural extension to the Adani Group's ambitious renewable portfolio.

Further, a non-binding agreement has been signed between Snam and Adani Gas [a joint venture company of Adani Group and Total of France (formerly known as Total SA)] to create a joint venture for setting up a CNG compressors manufacturing facility in India.

This would help in promoting the development of refuelling infrastructure for sustainable mobility and fostering the use of natural gas, as envisioned by the Government of India.

Parallelly, Snam has also signed an agreement with renewable energy developer Greenko to collaborate for the development of the Hydrogen value chain in India.

At the time of writing, Adani Gas share price was trading up by 0.5% on the BSE.

Moving on to news from the pharma sector...

Goldman Sachs Invests US$ 150 Million in Biocon Arm

On November 7, Biocon said that the board of its subsidiary Biocon Biologics approved a capital infusion of US$ 150 million from Goldman Sachs.

Biocon Biologics is engaged in developing high-quality, affordable biosimilars that expand patient access to a cutting-edge class of therapies across the world.

Goldman Sachs will be issued optionally convertible debentures at a post-money equity valuation of US$ 3.9 billion.

According to Biocon CEO, Kiran Mazumdar Shaw, this transaction is a part of the overall strategic plan of value creation for the company's shareholders through Biocon Biologics.

With three of the company's products commercialized in the U.S. market, the company plans to strive towards expanding access for its patients. With the demand for biosimilars set to grow as patents of originator biologics expire and patients demand lower-priced drugs, Biocon Biologics is well positioned to expand this access.

The capital injection by Goldman Sachs will enable it to make prudent investments in research and development, high-quality manufacturing as well as help establish a global footprint.

The company is also confident of achieving its aspiration of serving five million patients through its biosimilars portfolio and attaining a revenue target of US$ 1 billion by FY22.

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

Speaking of the 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 four stages.

According to Senior Analyst at Equitymaster, Apurva Sheth, this cycle defines everything in markets.

Apurva believes 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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