Sensex Trades Marginally Higher; Dow Futures Up by 170 Points

Mon, 14 Dec 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 35 points, up 0.1% at 46,134 levels.

Meanwhile, the NSE Nifty is trading up by 3 points.

Cipla and Coal India are among the top gainers today. Hero MotoCorp and Mahindra & Mahindra are among the top losers today.

Both the BSE Mid Cap index and BSE Small Cap index are trading up by 0.5%.

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

On the other hand, stocks from the automobile 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 28 points (up 0.2%) while Dow Futures are trading up by 170 points (up 0.6%).

The rupee is trading at 73.54 against the US$.

Gold prices are trading down 0.7% at Rs 48,964 per 10 grams.

In global markets, gold prices eased today as risk sentiment improved as the US prepares to start its Covid-19 vaccination program from today.

Tracking weak global cues, gold prices fell in Indian markets. On MCX, February gold futures slid 0.4% to Rs 49,125 in their third decline in four days. In the previous session, gold had edged up 0.4%.

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 Cipla.

Pharmaceutical giant Cipla has settled a patent litigation for a generic of a blood cancer pill with innovator Celgene, a wholly-owned subsidiary of Bristol Myers Squibb.

Celgene, according to the settlement, has agreed to provide Cipla with a license to its patents required to manufacture and sell certain volume-limited amounts of Lenalidomide - a copycat version of Revlimid - in the U.S. beginning sometime after March 2022.

For each consecutive 12 month period following the volume-limited entry date until January 31, 2026, the volume of generic Lenalidomide sold by Cipla cannot exceed certain agreed-upon percentages.

In addition, Celgene has agreed to provide Cipla with a license to its patents required to manufacture and sell an unlimited quantity of generic lenalidomide in the U.S. beginning January 31, 2026.

Cipla's ability to market lenalidomide in the U.S. will be contingent on its obtaining approval of an abbreviated new drug application.

Previously, two Indian drug makers Natco Pharma and Dr Reddy's Laboratories and the United States-based Alvogen had settled patent litigations for Revlimid with Celgene.At the time of writing, Cipla share price was trading up by 3.7% on the BSE.

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report shares how he likes to select stocks, in his latest video for Fast Profits Daily.

In the video below, Brijesh talks about how you can select stocks based on rising and falling commodity prices and how this process can help you improve your stock selection process.

Tune in here to find out more:

Moving on to news from the telecom sector...

Bharti Infratel Gets Roc Nod For Change Of Name To Indus Towers Post Mega Merger

Bharti Infratel has received approval from the Registrar of Companies (RoC) for changing its name to Indus Towers, following the recent merger of the two companies to create a mega tower entity.

The company has initiated due process for final approval from stock exchanges for updating the name change.In an exchange filing, Bharti Infratel said it "has received approval from the Registrar of Companies, NCT of Delhi and Haryana for change of name of the company from Bharti Infratel Limited to Indus Towers Limited as provided in the scheme of amalgamation and arrangement between the company and erstwhile Indus Towers Limited and their respective shareholders and creditors."In this regard, the Registrar of Companies has issued a fresh certificate of incorporation dated December 10 certifying the name change.

The merger of Bharti Infratel and Indus Towers to create a mega tower company was completed last month. The debt-ridden Vodafone Idea had received about Rs 37.6 billion cash for its 11.2% holding in Indus Towers.

We will keep you posted on more updates from this space. Stay tuned.

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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