Sensex Trades Over 300 Points Higher; Dow Futures Up By 142 Points

Mon, 28 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 337 points, up 0.7% at 47,310 levels.

Meanwhile, the NSE Nifty is trading up by 108 points.

Adani Ports & SEZ and Tata Motors are among the top gainers today. Hindustan Unilever and Britannia are among the top losers today.

The BSE Mid Cap index is trading up by 1%

The BSE Small Cap index is trading up by 1.3%.

On the sectoral front, all sectors are trading in green with stocks from the mining 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 72 points (up 0.6%) while Dow Futures are trading up by 142 points (up 0.5%).

The rupee is trading at 73.57 against the US$.

Gold prices are trading up by 0.5% at Rs 50,300 per 10 grams.

In international markets, gold prices jumped 1% as the metal's appeal as an inflation hedge was boosted by news that US President Donald Trump had signed a long-awaited coronavirus relief aid bill.

Tracking firm international prices, gold prices surged today in Indian markets. On MCX, February gold futures rose by 1% to Rs 50,561 per 10 grams.

Note that even though gold has recovered from lows of below Rs 48,000, it remains significantly lower than the August highs of Rs 56,200.

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 Coal India.

State-owned Coal India (CIL) said its board has given in-principle approval for venturing into the aluminium value chain (mining-refining-smelting) and solar power value chain (ingot-wafer-cell-module and generation).

The board also approved creating special purpose vehicles (SPVs), subject to obtaining concurrence from Niti Aayog and after the completion of feasibility studies and business analysis.

CIL will set up three specific-purpose vehicles (SPVs) - a Rs 455 billion integrated solar wafer manufacturing facility, a Rs 380 billion green-field aluminium project, and a Rs 234 billion aluminium smelting unit with state-run National Aluminium Company (NALCO).

The greenfield aluminium plant and another aluminium smelter plant with NALCO are part of the company's diversification strategy, which will be fired by captive thermal power units. The two units are expected to come up at Orissa and Jharkhand. The second location has been selected for the greenfield project because of the availability of bauxite.

Besides diversification, Coal India will continue the expansion of its existing projects to meet the country's coal demands. The company has a plan to invest Rs 2450 billion in the next two-three years to expand its business.

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

At the time of writing, Coal India share price was trading up by 1.3% on the BSE.

Speaking of the stock market, Ajit Dayal, founder of the Quantum group, shares his views on gold, the Covid-19 situation around the world, as well as specific investment opportunities, in the latest episode of the Investor Hour Podcast.

In the video below, Ajit also shares his personal asset allocation strategy.

Tune in here to find out more:

Moving on to news from the pharmaceutical sector...

Cadila Health Seeks Nod To Start Phase III Clinical Trials Of ZyCoV-D

Cadila Healthcare on December 24 said that it is planning to initiate Phase III clinical trial of its Covid-19 vaccine ZyCoV-D in around 30,000 volunteers upon receiving necessary approvals.

The company said its vaccine was found to be well-tolerated and immunogenic in the Phase I/II clinical trials.

In the Phase II study of the vaccine, ZyCoV-D had been tested in over 1,000 healthy adult volunteers.

"The vaccine was found to be safe and immunogenic. The trial has been reviewed by an independent Data Safety Monitoring Board (DSMB) and reports have been submitted to Central Drugs Standard Control Organisation (CDSCO) regularly for the update on safety outcome," Zydus Cadila said in a statement.

Zydus Cadila has taken a novel approach to its potential Covid-19 vaccine. Called plasmid DNA, the vaccine consists of the genetic material of SARS-CoV-2 protein that instructs human cells to make the SARS-CoV2 antigen, eliciting an immune response.

The company says that this approach is easily replicable and scalable, requiring just Biosafety Level (BSL)-1. Zydus Cadila initiated Phase-1 and 2 trials in July.

The ZyCoV-D vaccine can be stored at 2-8 degrees temperature, making it a good fit for the existing cold chain infrastructure. The vaccine is delivered through the intradermal (injected into the epidermis) route, which is much easier to administer compared to intramuscular injection, which requires training of healthcare workers.

The company has said it expects to have final data of phase III by March-April 2021. If everything goes well, the launch of the vaccine is expected in the first half of 2021.

How this pans out remains to be seen. Meanwhile, stay tuned for more 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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