Sensex Trades Marginally Lower; Dow Futures Down by 28 Points

Fri, 13 Nov 12:30 pm

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Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 71 points, down 0.2% at 43,286 levels.

Meanwhile, the NSE Nifty is trading flat.

Eicher Motors and Bajaj Finserv are among the top gainers today . Tata Motors and L&T are among the top losers today.

The BSE Mid Cap index is trading up by 0.3%

The BSE Small Cap index is trading up by 0.7%

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

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

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 33 points (up 0.3%), while Dow Futures are trading down by 28 points (down 0.1%).

The rupee is trading at 74.66 against the US$.

Gold prices are trading up 0.2% at Rs 50,713 per 10 grams.

In global markets, gold prices were steady today as the global vaccine rally in equities fizzled out. As Covid-19 cases continued to rise across the world, fears of fresh restrictions that could impact economic activity hurt risk sentiment despite optimism from the developments in a potential vaccine.

On the domestic front, gold prices in India struggled for direction. On MCX, gold futures edged marginally higher by 0.07% to Rs 50,635 per 10 grams. In the previous session, gold prices had risen 0.76% or Rs 380 per 10 grams.

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 Jubilant FoodWorks.

In an exchange filing on November 12, Jubilant FoodWorks reported its standalone net profit at Rs 769.1 million for the quarter ended September against Rs 759.2 million in the corresponding quarter a year ago.

Revenue for the said quarter came in at Rs 8.1 billion against Rs 9.9 billion for the same period last year and earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 2.1 billion.

The company said its liquidity position was strengthened during the quarter. Total cash and cash equivalents, bank deposits and investments increased to Rs 8.3 billion as on September 30, 2020, up from Rs 6.9 billion as on March 31, 2020.

While same-store sales contracted 20% over a year earlier in the three months ended September, the overall sales for Domino's recovered to 82.3% of the previous year, and delivery and takeaway channels grew 5.8% and 49.8% respectively.

The company opened 10 new Domino's stores and 1 new store each for Hong's Kitchen and Dunkin' Donuts. It also saw the highest ever app downloads at 6.3 million.

The company said that it faced multiple challenges in the external environment with the increased spread of Covid-19 during the quarter. But despite this, it has delivered a strong all-round performance.

Going forward, it expects Covid-19 to be a significant factor in the foreseeable future. To tackle this, it has developed a playbook to work around it and plans to restore the business on the path of sustainable and profitable growth.

At the time of writing, Jubilant Foodworks share price was trading up by 4.3% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani shares his expertise on how to make the best trading system, in his latest video for Fast Profits Daily.

In the video below, Vijay talks about how to build a good one and shares what goes into it and what does not. He also gives tips on how to identify a good trading system and how to measure its success.

Tune in here to find out more:

Moving on to news from the energy sector...

Reliance Industries to Invest US$ 50 Million In Bill Gates' Breakthrough Energy Ventures

Reliance Industries (RIL) has entered into a definitive agreement with Breakthrough Energy Ventures (BEV) for an investment up to US$ 50 million. This capital contribution commitment constitutes 5.7% of the size of the fund contemplated at present.

The said investment will be made in tranches over the next 8-10 years.

With this investment, Mukesh Ambani has joined the likes of Bill Gates, Jeff Bezos, Michael Bloomberg, Jack Ma, Masayoshi Son, and other high-value investors who have invested in the fund.

BEV seeks to find solutions to the climate crisis by flexibly investing to develop breakthrough energy and agriculture technologies. BEV will invest the funds raised from the investors to support innovation in clean energy solutions. The aim of the fund is to invest in companies working toward net-zero emissions.

The results of these efforts would have significant relevance for India and are expected to benefit the entire mankind and also provide good returns to the investors, RIL said.

The transaction is subject to approval from Reserve Bank of India.

The investment does not fall within related party transactions and none of RIL's promoter, promoter group or group companies has any interest in the transaction, the company clarified.

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

And 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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