Sensex Trades Marginally Higher; Dow Futures Down by 35 Points

Thu, 3 Dec 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 30 points, up 0.1% at 44,648 levels.

Meanwhile, the NSE Nifty is trading up by 27 points.

Maruti Suzuki and SBI are among the top gainers today. SBI Life and Ultra Cement are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap index are trading up by 0.6%

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

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

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 23 points (up 0.2%) while Dow Futures are trading down by 35 points (down 0.1%).

The rupee is trading at 73.9 against the US$.

Gold prices are trading up by 1.1% at Rs 49,189 per 10 grams.

Gold prices in Indian markets rose today for the third day in a row. On MCX, February futures were 0.5% higher at Rs 49,172 per 10 grams. In the previous session, gold had jumped ?400 per 10 grams, adding on Tuesday's Rs 700 gain.

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 SpiceJet.

On December 2, SpiceJet announced that is gearing up to provide logistics support for Covid-19 vaccination with its dedicated freighter division SpiceXpress.

Note that the temperature sensitivity to maintain efficacy of the vaccine calls for reliable, fast and secure logistics partners who understand the importance of cold chains. SpiceXpress, the dedicated cargo arm of SpiceJet, has come forth to take up this responsibility of seamlessly transporting the vaccine through a specialized service called Spice Pharma Pro.

With a dedicated fleet of 17 cargo aircraft, SpiceXpress is capable of flying cargo to both domestic and a wide list of international destinations. Besides, the airline also offers a plethora of other benefits such as a network of warehouses equipped with deep freezers to enable change of cool packs and ground vehicles and containers to help transport sensitive cargo.

The airline has previously transported 85000 tons of essentials and medical supplies during the lockdown to ensure the transport of vital goods and medical supplies to all corners of India and the world.

The airline's international cargo network now spans over 50 international destinations including USA, the UK, Germany, France, Russia, Uzbekistan, the UAE, Saudi Arabia, Thailand, China, Myanmar, Japan, Malaysia, Singapore and Canada among others.

At the time of writing, SpiceJet share price was trading up by 1.8% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how you can earn more profits with his cash calendar, in his latest video for Fast Profits Daily.

In the video below, Vijay shares details about the cash calendar and how picking the right counter at the right time has helped him make successful trades in the last 34 years.

Tune in here to find out more:

Moving on to news from the banking sector...

RBI Halts HDFC Bank's Digital Activities

On December 2, the Reserve Bank of India (RBI) issued an order to HDFC Bank with regards to incidents of outage in its internet banking, mobile banking and payment utility services over the past two years.

In its order, the RBI has advised the bank to - firstly temporarily stop all launches of its digital business generating activities planned under Digital 2.0 and other proposed business generating IT applications, and secondly halt sourcing of new credit card customers.

The order also states that HDFC Bank's board must examine the lapses and fix accountability.

The Bank in its filing to the exchanges said it has taken "several measures to fortify its IT systems" over the last two years and will continue to work to "swiftly to close out the balance and would continue to engage with the Regulator in this regard."

It also sought to reassure customers, stating that the current supervisory actions will have no impact on its existing credit cards, digital banking channels and existing operations.

HDFC Bank has had multiple failures in regards to digital services with customers complaining of inability to conduct credit and debit card transactions, internet banking, UPI, IMPS, and other modes of payment.

On November 21, customers complained of the payment stack being inoperative. Another similar incident took place on December 3, 2019, with customers complaining that they were unable to pay their loan EMIs or settle credit card bills on time.

Later, it was found out that the December outage took place because the lender underestimated growth in payment volumes and the November outage occurred due to a power failure in the bank's primary data centre.

Note that RBI's action comes after the central bank on November 23 sought an explanation from HDFC Bank after its digital services were disrupted from the evening of November 21 till November 22 morning - for over 12 hours.

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

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.

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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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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