Sensex Trades Over 200 Points Higher; Dow Futures Up by 61 Points

Fri, 4 Dec 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 248 points, up 0.6% at 44,880 levels.

Meanwhile, the NSE Nifty is trading up by 68 points.

Hindalco and Bharti Airtel are among the top gainers today. JSW Steel and Reliance are among the top losers today.

The BSE Mid Cap is trading up by 0.2%

The BSE Small Cap index is trading flat.

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

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

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

Nasdaq Futures are trading up by 45 points (up 0.4%) while Dow Futures are trading up by 61 points (up 0.2%).

The rupee is trading at 73.73 against the US$.

Gold prices are trading flat at Rs 49,300 per 10 grams.

Gold prices edged higher in Indian markets today as the precious metal continued to rebound from recent lows. On MCX, February gold futures rose 0.2% to Rs 49,380 per 10 grams, extending gains to the fourth day. In the previous session, gold had edged higher by Rs 350 per 10 grams.

Note that in the last four days, gold prices have risen about Rs 1,500 per 10 grams but are still down Rs 7,000 from August highs of Rs 56,200.

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 Bharti Airtel.

According to the Telecom Regulatory Authority of India, Bharti Airtel surpassed Reliance Jio in new mobile subscriber addition in September after a gap of four years.Reliance Jio had maintained a lead in monthly mobile subscriber addition since the launch of its commercial operations in September 2016. It had added 16 million new customers when it commenced commercial operations.

Bharti Airtel led mobile subscriber growth in September 2020 with a net addition of 3.8 million new customers. It was followed by Reliance Jio with net addition of 1.5 million and BSNL with 78,454 new customers.

Vodafone Idea was the biggest loser as it lost 4.6 million subscribers during the reported month. MTNL and Reliance Communications lost 5,784 and 1,324 customers, respectively.Reliance Jio led the market in terms of overall mobile subscriber base with 404.1 million customers. It was followed by Bharti Airtel with 326.6 million subscribers, Vodafone Idea with 295.5 million customers, BSNL with 118.9 million subscribers and MTNL with 3.3 million customers.The total telecom subscriber base in the country increased marginally to 1,168.7 million in the reported month from 1,167.8 million in August.

At the time of writing, Bharti Airtel share price was trading up by 2.9% on the BSE.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about why having the right mindset is important to become a rich trader, in his latest video for Fast Profits Daily.

If you want to know how to get rich with trading, this is the video for you.

Tune in here to find out more:

Moving on to news from the pharma sector...

Granules India Gets US FDA Approval for Penicillamine Capsules

The US Food & Drug Administration (USFDA) has approved the abbreviated new drug application (ANDA) filed by Granules Pharmaceuticals (GPI), a wholly-owned foreign subsidiary of Granules India, for Penicillamine capsules USP, 250 mg.

Penicillamine capsules are indicated in the treatment of Wilson's disease, cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy.

The drug is bio-equivalent to the reference listed drug (RLD) product, Cuprimine of Bausch Health Americas. The product would be manufactured at Granules manufacturing facility in Chantilly, Virginia and is expected to be launched shortly.

According to IQVIA Health, Penicillamine capsules had U.S. sales of approximately US$ 67 million for the most recent twelve months ending in October 2020.

Granules India is a pharmaceutical manufacturing company. The company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs) which gives customers flexibility and choice.

The company has a total of 35 ANDA approvals from US FDA (33 final approvals and 2 tentative approvals).

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

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the recent editions of Profit Hunter here: It's When You Sell that Counts

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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