Business, Commodities, Economy, Equities, Expert Views, Investor Forum, Markets - July 31, 2020

What are Gold funds and what are the benefits?

What are Gold Funds and what are its benefits?

Gold funds are unique type of mutual funds, through which investors can invest directly or indirectly in Gold Reserves. They can invest in the gold producing stocks, mining company stocks or in physical gold. Gold funds are the most convenient asset to invest, without the risk of theft or paper work as they are in digital form. This fund is kind of an open ended investment, where investor can issue or redeem at any point of time based on the units which they hold. However, their price directly depends on the metal (gold). Some investors use gold funds to hedge and diversify their portfolio and protect against uncertain economic condition. Many investors diversify around 10 to 20 percent of their portfolio by investing in gold funds. Golds funds are regulated by the SEBI and it is ideal for investors who are risk averse.

Types of gold funds available across globe for investors:

Gold Mining Funds:

In this, funds are invested in stocks of the mining companies and returns depends on the performance of these stocks. However, investment does not get affected due to any fluctuation in economy as gold price is affected mainly due to the fluctuation in demand and supply of gold. Gold exchange traded funds were first introduced by Benchmark Asset Company in India. This funds basically invest in the gold through Demat account. Returns and value of the investments totally depend on the price of gold. Investment in Gold Fund of Fund is same as exchange traded funds as in this, investments are made in particular unit of the Exchange traded funds without opening the Demat account.

Main purpose of Gold Funds:

Main purpose for investors to invest in gold funds is to grow their investment value and create wealth in whatever period the investment is made with protection against the market fluctuation. Price of Underlying asset varies according to change in demand of gold and at the time of maturity returns are calculated on current gold price. If gold price is increased, it gives more returns at the time of redemption.

What are tax charges for Gold Funds?

Normally, the tax which is charged on the Gold Jewellery is applicable to the Gold Mutual Funds schemes. But, taxes also vary according to the tenure. If investments are made for less than three years than revenue is added to the total gross income and considered as short term. But if investments are made for more than three years than 20 percent tax is applicable with indexation norms and CESS charges. However, if capital gains is through exchange traded funds (Gold ETFs), tax exempt is given. No TDS is applicable to Golds Mutual funds. During the time of buying or selling of funds, same tax is applicable as on Gold Jewellery.

Benefits of Gold Funds:

Flexibility in investment:

Gold funds allows investors to invest according to their convenience, comparing to the physical purchase of the gold. Investment can be made as low as Rs 500 and even small income class can also invest in this fund rather than purchasing physical gold which costs higher than these funds and gives flexibility. Gold mutual funds are one of the safest investment as these funds are regulated by Security exchange board of India and they continuously monitors the performance of this type of funds so that investors can analyse their future returns. Gold Funds are also safer than holding physical assets (Gold) as it is in de-materialized form.

Highly liquid:

Gold funds are high liquid funds as investors can redeem them in short term and are also protected against the uncertain economic situation. However, during market hours only, it can be buy or sell and net asset value of previous day is considered at the time of selling and trade is offset in one or two working day. To balance the overall portfolio, investor may always choose gold funds. Gold price is not directly affected to one investor’s overall investment and stocks in which investment is made. Gold fund is considered as one of the safest investment with good returns.

Some finest Gold Mutual Funds in India:

Axis Gold Funds has given return in a year up to 26% and for 3 to 5 year period 4%.
SBI Funds has given returns up to 22% in a year and 6% in 5 years.
HDFC Gold Fund has given returns of 22% in a year and 6% in 5 year period.

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Commodities, Currency, Equities, Market News, Markets - June 16, 2020

Market update 16th June 2020. Market surges despite volatility. HDFC twins top gainers.

Market update 16th June 2020. Market surges despite volatility. HDFC twins top gainers.

Overall performance:

Today, Indian indices witnessed volatile trade due to improving performance of global cues and closed on a positive note. Selling pressure was seen in FMCG, Infra, Energy and Pharma stocks but IT and Metal stocks outperformed. When market closed, SENSEX increased by 376.42 points or 1.13%, closing at 33,605.22 and NIFTY was up by 100.30 points or 1.02%, closing at 9,914.00. The S&P BSE midcap index was up by 46.34 points or 0.37%, closing at 12,501.29 and S&P BSE Small cap increased by 4.77 points or 0.04 %, closing at 11,849.62. While, NIFTY Midcap 100 closed at 14,230.60, up by 62.05 points or 0.44% and NIFTY Small cap 100 closed at 4,404.75 and decreased by 4.85 points or 0.11%.

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a positive note. DAX was up by 328.98 points or 2.76%, trading at 12,240.33 and CAC was trading at 4,923.46, up by 107.74 points or 2.24%. SGX Nifty was trading at 9,881.50 and increased by 0.87% or 85.00 points. While, NASDAQ was trading at 9,726.02, up by 85.00 points or 0.87%.

Currently, Gold is trading at 47,350.00 up by 324.00 points or 0.67%, Silver is trading at 47,910.00 up by 517.00 points and 1.09%. Crude oil is trading at 2,859.00, which increased by 74.00 points or 2.66%.

Currency:

At the closing time of Indian indices, almost all the currencies were trading at a positive note. USD was trading at Rs 76.21, increased by 0.25%. EURO was trading at Rs 86.10, up by 0.13% and GBP was trading at Rs 96.21, up by 0.51%.

Sector wise performance:

Among the sectors, major jump was seen in Banking, Auto, IT, and Metal sector while major losses was booked by FMCG and Pharma Stocks. The S&P BSE Auto index increased by 9.74 points or 0.07% and S&P BSE BANKEX was up by 441.83 points or 1.95%. S&P BSE IT was up by 135.73 points or 0.95% and BSE IT was up by 135.73 points. NIFTY BANK increased by 383.80 points or 1.93%, closing at 20,296.70 and NIFTY Auto was up by 8.05 points or 0.12%. While, NIFTY IT increased by 54.10 points or 0.38%, closing at 14,450.80 and NIFTY FMCG fell by 126.45 points or 0.44%.

Top 5 gainers:

Share price of HDFC Bank increased by 40.55 points or 4.27%, closing at Rs 990.40, HDFC gained 70.25 points or 4.01% and closed at Rs 1,891.90. ICICI Bank shares increased by 11.85 points or 3.58%, closing at Rs 342.95. JSW Steel was up by 6.30 points or 3.43%, closing at Rs 190.05 and Hindalco shares increased by 4.30 points or 2.95% and closed at Rs 150.10.

Top 5 losers:

Today, Tata Motors shares declined by 5.75 points or 5.72%, closing at Rs 94.75. Bharti Infratel shares declined by 6.90 points or 3.10 percent, closing at Rs 216.00. Tech Mahindra decreased by 15.50 points or by 2.82%, closing at Rs 533.30. Share price of GAIL fell by 2.15 points or 2.16%, closing at Rs 97.50 and Axis Bank declined by 8.05 points or 2.07%, closing at Rs 381.55.

Stock in news:

Most active stocks in terms of volume were Vodafone idea, Tata Motors, SBI, IndusInd Bank, SAIL, Federal Bank, BHEL, IDFC First Bank, Bank of Baroda, Axis Bank, RBL Bank and PNB. Today, HDFC Twins were in news as both HDFC and HDFC Bank gained more than 4 percent. Tata Motors was in news as after they announced their Quarter 4 Results,. Their share price declined by more than 5 percent and was one of the top losers today, closing at Rs 94.75. IT sector ended on positive note and IT stocks like TCS and Infosys increased around 1 to 2 percent.

Market update 15th June 2020. Market closes on a negative note for third consecutive session.

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Commodities, Currency, Equities, Market News, Markets - June 15, 2020

Market update 15th June 2020. Market closes on a negative note for third consecutive session.

Market update 15th June 2020. Market closes on a negative note for third consecutive session.

Overall performance:

Today, Indian indices ended 1.5 percent lower, due to weak performance of Global Cues while, market was majorly dragged by FMCG, Auto, Banking and Finance sector. When market closed, SENSEX was down by 552.09 points or 1.63%, closing at 33,228.80 and NIFTY was down by 159.20 points or 1.60%, closing at 9,813.70. Almost all the sectors ended on a negative note expect Pharma.

In Broader markets, the S&P BSE midcap index was down by 145.20 points or 1.51%, closing at 12,454.95 and S&P BSE Small cap decreased by 0.42 points or 0.00%, closing at 11,844.85. While, NIFTY Midcap 100 closed at 14,168.55, down by 170.80 points or 1.19% and NIFTY Small cap 100 closed at 4,409.60 and increased by 16.10 points or 0.37%.

Global indices, Commodities and Currency:

When Indian market closed, all other major indices was trading at a lower note except NASDAQ. SGX Nifty was down by 103.00 points or 1.04% and trading at 9,796.50. DAX was trading at 11,818.54, down by 130.74 points or 1.09% and CAC was trading at 4,790.73 and decreased by 48.53 points or 1.00%. While, NASDAQ was trading at 9,588.81, up by 96.08 points or 1.01%.

Currently, Gold is trading at 46,751 down by 583.00 points and 1.23%. Silver is trading at 47,021.00, down by 680.00 points and 1.44% and Crude oil is trading at 2,714.00, which decreased by 24.00 points or 0.88%.

At the closing time of of Indian indices, USD was trading at Rs 76.02, increased by 0.24%. EURO was trading at Rs 85.60, up by 0.08% and GBP was trading at Rs 95.35, up by 0.09%.

Sector wise performance:

As Market ended on a negative note, losses was witnessed by all the sectors. But among the sectors, major decline was seen in Metal, FMCG, Banking and Auto sector and gains were seen in Pharma sector. The S&P BSE Auto index decreased by 242.74 points, S&P BSE FMCG was down by 162.64 points or 1.49%. While, BSE BANKEX was down by points 829.39 or 3.53% and BSE Metal was down by 148.73 points or 2.09%. When market closed today, NIFTY Bank fell by 741.65 points or 3.59%, closing at 19,912.90 and NIFTY Auto decreased by 116.40 points or 1.77%, closing at 6,443.00. While, NIFTY Pharma was up by 6.25 points or 0.06% and closed at 9,989.05.

Top 5 gainers:

Today, GAIL increased by 3.30 points or 3.43%, closing at Rs 99.65. Wipro gained 5.90 points or 2.84% and closed at Rs 213.80. Reliance increased by 25.75 points or 1.62%, closing at Rs 1,614.55. HCL Tech was up by 8.20 points or 1.44%, closing at Rs 578.95 and Sun Pharma shares was up by 5.70 points or 1.19% and closed at Rs 485.80.

Top 5 losers:

Today, shares which declined the most were from the Banking and Auto sector. IndusInd Bank declined by 37.90 points or 7.17%, closing at Rs 490.55. Shares of Tata Motors declined by 4.56% or 4.80 points, closing at Rs 100.50, Axis Bank decreased by 18.40 points or by 4.51%, closing at Rs 389.60. Share price of Bajaj Finance fell by 98.75 points or 4.03%, closing at Rs 2,351.40 and NTPC declined by 3.70 points or 3.82%, closing at Rs 93.20.

Stock in news:

Today, even when market ended on a lower note, eight Nifty 50 stocks gained up to 4 percent which includes GAIL, Wipro, Reliance, HCL Tech, Sun Pharma, ONGC, Dr Reddy’s Lab, and Cipla. IndusInd Bank was in news as after gaining for six consecutive day, today their share price fell by 7.17 percent and closed at Rs 490.55. After reporting loss in Q4 results, Tata Motors declined by 4.56 percent. Other than these, stocks which were active by volume were Vodafone idea, SBI, BHEL, RBL Bank, Tata Motors, PNB, Bank of Baroda, ICICI Bank, Zee Entertain, Ashok Leyland and IDFC First Bank.

Weekly market update (8th June – 12th June).

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Commodities, Currency, Equities, Market News, Markets - June 13, 2020

Weekly market update (8th June - 12th June).

Weekly market update (8th June – 12th June).

Overall Performance:

This week, Indian Equities witnessed the most volatile week. The week started on a positive note but selling pressure was seen in mid-week due to which market declined by 1 percent in this week. Decline was noticed due to many reasons such as Moody’s downgrade rating, decline in global equities, ADR verdict and rising cases of COVID-19. However, market was supported due to the increasing foreign investment and the decision by the government to lift certain lock down norms to recover the economy.

Overall Indian market declined by 1 percent but small cap index and mid cap index outperformed in this week. On Monday 8th June, SENSEX opened at 34,287.24 and closed at 34,370.58 (up by 83.34 points) while, on Friday it closed at 33,780.89 and increased by 242.52 points. When compared with opening price on Monday, SENSEX declined by 1.48 percent this week. While, on Monday, NIFTY opened at 10,142.2 and closed at 9,972.90 on Friday, down by 1.68 percent.

The S&P BSE Mid-cap index gained more than 0.37 percent and closed at 12,600.15 on Friday. But some mid cap stocks gained more than 10 percent. This includes stocks such as Ujjivan Financial Services, PC jewellers, Cochin Shipyard, Info Edge, Granules India, Dishman Carbogen and Swan Energy. On the other side The S&P BSE Small-cap index was flat in this week.

Global indices, commodities and currency:

DAX was trading at 12,777.50, down by 70.18 points or 0.55% on Monday while today it is trading at 11,949.28, down by 21.01 points and NASDAQ was trading at 9,814.08 up by 198.27 points or 2.06% while now it is trading at 9,588.81 up by 96.80. CAC was trading at 5,169.24 and decreased by 0.55% or 28.55 points. It is now trading at 4,839.26 up by 23.66 points.

When market closed on Monday, Gold was trading at 45,985.00, up by 274 points or 0.60% and is now trading at 47,334. Silver was trading at 48,189.00, up by 838.00 points and is currently trading at 47,690, down by 949.00 points.

On Monday, at the closing time of Indian indices, USD was trading at Rs 75.54 which is now trading at Rs 75.84. EURO was trading at Rs 85.20, and is currently trading at Rs 85.46. GBP was trading at 95.21, which is now trading at Rs 95.25.

Sector wise:

This week, major gain was seen in Banking, Financial, IT, Energy and Auto Sector. NIFTY Bank decreased by 379.95 points (in this week, comparing to the opening price of Monday), closed at 20,654.55.

Top 5 gainers:

This week, share price of IndusInd Bank increased by 25.12% or by 106.10 points, closing at Rs 528.45, India Bulls Housing gained 17.81% or 23.20 points, closing at Rs 153.45. Shares of Mahindra and Mahindra jumped by 5.01 percent or 24.25 points, closing at Rs 508.45. Hero MotoCorp’s share price increased by 61.20 points or 2.61 percent, closing at Rs 2,401.85 this week, and share price of Bajaj Finance gained 59.80 points or 2.50 percent and closed at Rs 2,450.15.

Top 5 losers:

Dewan Housing Finance Corporation fell by 4.36 percent or by 0.67 points and closed at Rs 14.68. This week, share price of Zee Entertainment decreased by 4.20 percent or 7.40 points, closing at Rs 168.60. Reliance Power fell by 4.09% or 0.11 points, closing at Rs 2.58 shares. Endurance Tech declined by 3.98 percent or 34.10 points, closing at Rs 821.85 and share price of ONGC declined by 3.39% or 2.95 points and closed at Rs 83.95 on Friday.

Stocks in news:

This week, IT sector saw a huge loss mainly after the H-1B Visa news which impacted on their stocks and almost all IT stocks including TCS, Wipro and Infosys ended on a negative note. On the other side, telecom index impacted due to the ADR verdict. IndusInd Bank was in news in this week, as they continued to gain for 5 consecutive day mainly after the announcement of Additional shares purchase by promoters in the company and closed at Rs 528.45. On the other side, after announcement of Quarter 4 Results, Mahindra and Mahindra share price jumped more than 5 percent this week. Other than these stocks, most active in terms of volume includes stocks such as Vodafone Idea, SAIL, Axis Bank, Bharti Airtel, IDFC First Bank, SBI, NCC, Bank of Baroda, Tata Motors, Jindal Steel, ITC, ICICI bank, Adani power and Tata power.

Market update 12th June 2020. Market closes with highest intraday gains in more than two months.

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Commodities, Currency, Equities, Market News, Markets - June 12, 2020

Market update 12th June 2020. Market closes with highest intraday gains in more than two months.

Market update 12th June 2020. Market closes with highest intraday gains in more than two months.

Overall performance:

Today, Indian indices witnessed volatile trade with the biggest intraday gain and closed on a positive note, majorly supported by Banking, Pharma, Energy and Telecom sector stocks. All the sectors ended on positive note except IT. When market closed, SENSEX increased by 242.52 points or 0.72%, closing at 33,780.89 and NIFTY was up by 70.90 points or 0.72%, closing at 9,972.90.

The S&P BSE midcap index was up by 119.57 points or 0.96%, closing at 12,600.15 and S&P BSE Small cap increased by 14.85 points or 0.13%, closing at 11,845.27. While, NIFTY Midcap 100 closed at 14,339.35 up by 181.55 points or 1.28% and NIFTY Small cap 100 closed at 4,393.50 decreased by 4.85 points or 0.11%.

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a positive note. DAX was up by 179.74 points or 1.50%, trading at 12,150.03 and CAC was trading at 4,931.07 up by 115.47 points or 1.50%. SGX Nifty was trading at 9,899.50 and increased by 0.47% or 46.50 points. While, NASDAQ was trading at 9,492.73, down by 527.62 points or 5.27%.

Currently, Gold is trading at 47,204, down by 195.00 points or 0.41%, Silver is trading at 48,145, down by 494.00 points and 1.02%. Crude oil is trading at 2,774.00 which decreased by 8.00 points or 0.29%.

Currency:

At the closing time of Indian indices, almost all the currencies were trading at a positive note expect Euro. USD was trading at Rs 75.84, increased by 0.08%. EURO was trading at Rs 85.80, down by 0.03% and GBP was trading at Rs 95.81, up by 0.09%.

Sector wise performance:

Among the sectors, major jump was seen in Banking, Auto, Pharma and Energy sector while major losses was booked by IT Stocks. The S&P BSE Auto index increased by 419.22 points or 2.91% and S&P BSE BANKEX was up by 67.36 points or 0.29%. While, S&P BSE IT was down by 216.96 points or 1.49%. At close, NIFTY BANK increased by 129.40 points or 0.63%, closing at 20,654.55 and NIFTY Auto was up by 185.80 points or 2.92%. While, NIFTY IT decreased by 216.70 points or 1.48%, closing at 14,402.75 and NIFTY Media fell by 11.25 points or 0.87%.

Top 5 gainers:

Share price of Mahindra and Mahindra increased by 33.90 points or 7.14%, closing at Rs 508.45, Bharti Infratel gained 14.20 points or 6.74% and closed at Rs 225.00. Shree Cements shares increased by 1,141.45 points or 5.37%, closing at Rs 22,392.65. Bajaj Finance was up by 111.25 points or 4.76%, closing at Rs 2,450.15 and Hero MotoCorp shares increased by 91.90 points or 3.98% and closed at Rs 2,401.85.

Top 5 losers:

Today, Shares of Zee Entertainment declined by 7.40 points or 4.21%, closing at Rs 168.55. ONGC shares declined by 3.45% or 3.00 points, closing at Rs 83.90. Tech Mahindra decreased by 17.15 points or by 3%, closing at Rs 554.70. Share price of Power Grid Corp fell by 4.70 points or 2.75%, closing at Rs 166.30 and Wipro declined by 5.00 points or 2.35%, closing at Rs 207.90.

Stock in news:

Most active stocks in terms of volume were Vodafone idea, Tata Motors, SBI, IndusInd Bank, Ashok Leyland, BHEL, IDFC First Bank, Bank of Baroda, Axis Bank, RBL Bank and PNB. Today, IT sector saw a huge loss mainly after the H-1B Visa news which impacted on their stocks and almost all IT stocks including TCS, Wipro and Infosys ended on a negative note. On the other side, telecom index jumped more than 2 percent due to ADR verdict. Mahindra and Mahindra was in news as they announced their Quarter 4 Results. Their share price jumped more than 7 percent and was one of the top gainers today, closing at Rs 508.45.

Market update 11th June 2020. Market closes 2% lower, IndusInd Bank gains for 5th consecutive day.

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Commodities, Currency, Equities, Market News, Markets - June 11, 2020

Market update 11th June 2020. Market closes 2% lower, IndusInd Bank gains for 5th consecutive day.

Market update 11th June 2020. Market closes 2% lower, IndusInd Bank gains for 5th consecutive day.

Overall performance:

Today, Indian indices ended on a negative note due to weak performance in Global Cues and AGR case verdict by Supreme Court. While, market was majorly dragged by Metal, IT, Auto, Banking and Finance sector. When market closed, SENSEX was down by 708.68 points or 2.07%, closing at 33,538.37 and NIFTY was down by 214.15 points or 2.12%, closing at 9,902.00 and almost all sector ended on negative note. In Broader markets, the S&P BSE midcap index was down by 178.76 points or 1.41%, closing at 12,480.58 and S&P BSE Small cap decreased by 124.62 points or 1.04%, closing at 11,830.42. While, NIFTY Midcap 100 closed at 14,157.80, down by 184.20 points or 1.28% and NIFTY Small cap 100 closed at 4,398.35 decreased by 38.45 points or 0.87%.

Global indices, commodities and currency:

When Indian market closed, all other major indices was trading at a low note except NASDAQ. SGX Nifty was down by 221.50 points or 2.19% and trading at 9,890.00. DAX was trading at 12,288.01, down by 242.15 points or 1.93% and CAC was trading at 4,949.33, decreased by 104.09 points or 2.06%. While, NASDAQ was trading at 10,020.35, up by 66.60 points or 0.67%.

Currently, Gold is trading at 47,170, up by 544.00 points and 1.17%. Silver is trading at 48,870, up by 786.00 points and 1.63% and Crude oil is trading at 2,912 which is decreased by 52.00 points or 1.73%.

At the time of closing of Indian indices, USD was trading at Rs 75.78, increased by 0.26%. EURO was trading at Rs 86.18, up by 0.25% and GBP was trading at Rs 96.09, down by 0.29%.

Sector wise performance:

As Market ended on a negative note, losses were seen all the sectors. But among the sectors major decline was seen in Metal, IT, Banking and Auto sector. The S&P BSE Auto index decreased by 293.39 points, S&P BSE IT was down by 243.21 points or 1.64%. While, BSE BANKEX was down by points 671.53 or 2.79% and BSE Metal was down by 207.49 points or 2.85%. When market closed today, NIFTY Bank fell by 574.95 points or 2.72%, closing at 20,525.15 and NIFTY IT decreased by 222.60 points or 1.50%, closing at 14,619.45. While, NIFTY Auto was down by 129.05 points or 1.98% and closed at 6,373.60.

Top 5 gainers:

Today, all the indices ended on a negative note. However, six stocks managed to end at positive note. IndusInd Bank which is increasing from last few days, today increased by 23.55 points or 4.71%, closing at Rs 523.15. Hero MotoCorp gained 17.70 points or 0.77% and closed at Rs 2,309.95. Power Grid Corp shares increased by 0.95 points or 0.56%, closing at Rs 171.00, Mahindra and Mahindra was up by 2.50 points or 0.53%, closing at Rs 474.55 and Nestle shares was up by 73.55 points or 0.44% and closed at Rs 16,608.25.

Top 5 losers:

Today, shares which declined most were from the Banking and Metal sector. Bharti Infratel declined by 21.90 points or 9.41%, closing at Rs 210.80. Zee Entertainment shares declined by 7.30% or 13.85 points, closing at Rs 175.95. Shares of SBI decreased by 10.55 points or by 5.62%, closing at Rs 177.15. Share price of Sun Pharma fell by 25.50 points or 5.11%, closing at Rs 473.65 and Vedanta declined by 5.05 points or 4.76%, closing at Rs 101.05.

Stock in news:

Today, even when market ended on a lower note, six Nifty 50 stocks gained up to 4 percent which includes IndusInd Bank, Hero MotoCorp, Power Grid Corp, Mahindra and Mahindra, Nestle and Bajaj Auto. IndusInd Bank was in news as they continued to gain for 5th consecutive day, mainly after announcement of additional shares purchase by promoters in company. After AGR verdict, many stocks fell which includes Bharti Airtel, Vodafone Idea and Bharti Infratel. Other than these, stocks which were active by volume are Vodafone idea, SBI, BHEL, RBL Bank, Tata Motors, PNB, Bank of Baroda, ICICI Bank, Federal Bank, Ashok Leyland and IDFC First Bank.

Market update 10th June 2020. Market regains from Tuesday’s losses, Auto sector shares fall.

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Commodities, Currency, Equities, Market News, Markets - June 10, 2020

Market update 10th June 2020. Market regains from Tuesday's losses, Auto sector shares fall.

Market update 10th June 2020. Market regains from Tuesday’s losses, Auto sector shares fall.

Overall performance:

Today, Indian indices witnessed volatile trade but ended on a positive note majorly supported by IT, Bank, Pharma, Energy and Infra sector stocks. When market closed, SENSEX increased by 290.36 points or 0.86%, closing at 34,247.05 and NIFTY was up by 69.50 points or 0.69%, closing at 10,116.20. The S&P BSE midcap index was up by 101.84 points or 0.81%, closing at 12,659.34 and S&P BSE Small cap increased by 108.99 points or 0.92%, closing at 11,955.04. While, NIFTY Midcap 100 closed at 14,342.00 up by 173.35 points or 1.22% and NIFTY Small cap 100 closed at 4,436.80, increased by 22.65 points or 0.51%.

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a negative note. DAX was down by 84.54 points or 0.67% and trading at 12,533.45 and CAC was trading at 5,072.09, down by 23.00 points or 0.45%. While, SGX Nifty was trading at 10,116.50 and increased by 1.05% or 105 points. NASDAQ was trading at 9,953.75 up by 29 points or 0.29%.

Currently, Gold is trading at 46,670 up by 60.00 points or 0.13%, Silver is trading at 48,057 down by 42.00 points and 0.09%. Crude oil is trading at 2,867.00 which decreased by 21 points or 0.73%.

Currency:

At the time of closing of Indian indices, almost all currencies were trading at a positive note expect USD. USD was trading at Rs 75.58, decreased by 0.03%. EURO was trading at Rs 85.76, up by 0.21% and GBP was trading at Rs 96.20, up by 0.14%.

Sector wise performance:

Among the sectors, major jump was seen in Banking, IT, Finance and Energy sector while major losses was booked by Auto Stocks. The S&P BSE IT index increased by 84.88 points or 0.58% and S&P BSE BANKEX was up by 423.93 points or 1.79%. While, BSE Auto was down by 148.56 points or 1.00%. At the time of closing, NIFTY BANK increased by 375.20 points or 1.81%, closing at 21,100.10 and NIFTY IT was up by 104.25 points or 0.71%. While, NIFTY FMCG decreased by 21.70 points or 0.07%, closing at 29,503.20 and NIFTY Auto fell by 75.05 points or 1.14%.

Top 5 gainers:

Share price of IndusInd Bank increased by 35.70 points or 7.70%, closing at Rs 499.60, Hindalco gained 4.35 points or 3.05% and closed at Rs 146.95. Shree Cements shares increased by 503.50 points or 2.40%, closing at Rs 21,513.30. Reliance was up by 35 points or 2.28%, closing at Rs 1,572.15 and Kotak Mahindra’s shares increased by 28.10 points or 2.15% and closed at Rs 1,332.25.

Top 5 losers:

Today, shares of Hero MotoCorp declined by 95.05 points or 3.98%, closing at Rs 2,292.25. GAIL declined by 2.97% or 3.00 points, closing at Rs 98.10. Bajaj Auto decreased by 73.95 points or by 2.65%, closing at Rs 2,717.20. Share price of COAL India fell by 3.60 points or 2.49%, closing at Rs 140.70 and Tata Steel declined by 8.20 points or 2.47%, closing at Rs 324.

Stock in news:

Most active stocks in terms of volume were Vodafone idea, SBI, PNB, Tata Motors, Ashok Leyland, India Bulls Hsg, Bank of Baroda, Suzlon Energy, Axis Bank, RBL Bank and IDFC First Bank. IndusInd Bank was in news as their shares gained for the 4th straight day and reached nearly at 3 month high, closing at Rs 499.60. JM Financial increased by 3.67 percent today, due to the launch of QIP with indicative issue of Rs 770 crore and closed at Rs 73.50.

Among all the sectors, major gain was seen in Banking and Finance sector today and shares of Kotak Mahindra and Axis Bank increased around 2 to 3 percent. On the other side, as Auto sector ended on negative note, shares like Hero MotoCorp and Bajaj Auto decreased around 3 to 4 percent.

Market update 9th June 2020. Pharma stocks surge, Dr Reddy’s Labs and IndusInd Bank top gainers.

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Commodities, Currency, Equities, Market News, Markets - June 9, 2020

Market update 9th June 2020. Pharma stocks surge, Dr Reddy's Labs and IndusInd Bank top gainers.

Market update 9th June 2020. Pharma stocks surge, Dr Reddy’s Labs and IndusInd Bank top gainers.

Overall performance:

Today, Indian indices ended on a low note as sale of stocks was seen majorly in Banking and Auto sector. While, market was in favour of Pharma stocks. When market closed, SENSEX was down by 413.89 points or 1.20%, closing at 33,956.69 and NIFTY was down by 120.80 points or 1.19%, closing at 10,046.65. Almost all sectors ended on a negative note expect for Pharma and Healthcare.

In Broader markets, The S&P BSE midcap index was down by 26.11 points or 0.21%, closing at 12,557.50 and S&P BSE Small cap decreased by 119.28 points or 1.00%, closing at 11,846.05. While, NIFTY Midcap 100 closed at 14,168.65 down by 54.00 points or 0.38% and NIFTY Small cap 100 closed at 4,414.15 increased by 63.55 points or 1.42%.

Global indices, commodites and currency:

When Indian market closed, almost all other major indices was trading at a lower note. SGX Nifty was down by 151.60 points or 1.45% and trading at 10,011.50. NASDAQ was trading at 9,924.75 up by 110.67 points or 1.13% and CAC was trading at 5,068.96, decreased by 106.56 points or 1.06%. While, DAX was trading at 12,551.87 down by 267.72 points or 2.09%.

Currently, Gold is trading at 46,450.00 up by 349.00 points and 0.76%. Silver is trading at 48,187.00 up by 2.00 points and 0.01% and Crude oil is trading at 2,817.00 which decreased by 65.00 points or 2.22%.

At the time of closing of Indian indices, USD was trading at Rs 75.61, increased by 0.09%. EURO was trading at Rs 85.23, up by 0.13% and GBP was trading at Rs 95.69, down by 0.22%.

Sector wise performance:

Among the sectors, major gain was seen in Pharma sector and losses was seen in IT, Auto, Metal, Energy, Banking and Financial sector. The S&P BSE Auto index decreased by 88.82 points, S&P BSE IT was down by 71.86 points or 0.48%. While, BSE BANKEX was down by 556.90 points or 2.30%. When market closed today, NIFTY FMCG increased by 22.75 points or 0.08%, closing at 29,524.90 and NIFTY Pharma increased by 182.95 points or 1.84%, closing at 10,122.05. While, NIFTY Bank fell by 462.45 points or 2.18% and closed at 20,724.90.

Top 5 gainers:

Most of the gainers were from Pharma sector but some Auto stocks also performed well. Today, Dr Reddys Labs increased by 156.20 points or 3.94%, closing at Rs 4,123.80 and IndusInd Bank gained 12.30 points or 2.72% and closed at Rs 463.90. Sun Pharma shares increased by 11.75 points or 2.40%, closing at Rs 500.75, Mahindra and Mahindra was up by 7.90 points or 1.68%, closing at Rs 478.75 and Bharti Infratel shares was up by 2.80 points or 1.22% and closed at Rs 233.

Top 5 losers:

Today, shares which declined most were from the Banking and IT sector. Wipro declined by 8.10 points or 3.58%, closing at Rs 218.35. GAIL shares declined by 3.48% or 3.65 points, closing at Rs 101.10, Tata Motors shares were decreased by 4.00 points or by 3.46%, closing at Rs 111.45. Share price of BPCL fell by 12.60 points or 3.20%, closing at Rs 381.50 and ICICI Bank declined by 11.25 points or 3.13%, closing at Rs 348.55.

Stock in news:

Stocks which were active by volume includes were Vodafone idea, SBI, BHEL, RBL Bank, Tata Motors, PNB, Trident, Tata Powers, ICICI Bank, Federal Bank, Ashok Leyland and IDFC First Bank. Today, even when market ended on lower note, some stocks from Auto and Pharma sector gained around 2 to 4 percent. Mahindra and Mahindra was in news as their share price increased by 7.90 points, closing at Rs 478.75. Sun Pharma gained 11.75 points and Dr Reddys Labs gained 156.20 points and touched 52 week high, closing at Rs 4,123.80. ICICI Bank was in news because their shares price decreased by 11.25 points and closed at Rs 348.55 and banking stocks such as Kotak Mahindra, Axis Bank and HDFC Bank also fell around 2 to 3 percent.

Market update 8th June 2020. Bank and IT sector help Indices to close with minor gains.

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Commodities, Currency, Equities, Market News, Markets - June 8, 2020

Market update 8th June 2020. Bank and IT sector help Indices to close with minor gains.

Market update 8th June 2020. Bank and IT sector help Indices to close with minor gains.

Overall performance:

Today, Indian indices witnessed a volatile trade but ended on a positive note majorly supported by IT, Bank, Metal, Energy and Infra sector stocks. When market closed, SENSEX increased by 83.34 points or 0.24%, closing at 34,370.58 and NIFTY was up by 25.30 points or 0.25%, closing at 10,167.50. The S&P BSE midcap index was up by 29.45 points or 0.23%, closing at 12,583.61. S&P BSE Small cap increased by 110.16 points or 0.93%, closing at 11,965.33. While, NIFTY Midcap 100 closed at 14,222.65 up by 64.60 points or 0.46% and NIFTY Small cap 100 closed at 4,477.70, increased by 54.60 points or 1.23%.

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a negative note. DAX was down by 70.18 points or 0.55% and trading at 12,777.50. SGX Nifty was trading at 10,163.00 down by 1.00 points or 0.01% and CAC was trading at 5,169.24 decreased by 0.55% or 28.55 points. While, NASDAQ was trading at 9,814.08 up by 198.27 points or 2.06%.

Currently, Gold is trading at 45,985.00 up by 274 points or 0.60%, Silver is trading at 48,189.00 up by 838.00 points and 1.77% and Crude oil is trading at 3,012.00 which is increased by 22 points or 0.74%.

Currency:

At the closing time of Indian indices, almost all the currencies were trading at a negative note. USD was trading at Rs 75.54, decreased by 0.06%. EURO was trading at Rs 85.20, down by 0.10% and GBP was trading at Rs 95.51, down by 0.29%.

Sector wise performance:

Among the sectors, major jump was seen in Banking, IT, Finance and Energy sector. The S&P BSE IT index increased by 246.33 points or 1.69% and S&P BSE BANKEX was up by 157.75 points or 0.66%. BSE Auto was down by 49.24 points or 0.33%. At closing, NIFTY BANK increased by 152.85 points or 0.73%, closing at 21,187.35 and NIFTY IT was up by 267.15 points or 1.83%. While, NIFTY FMCG decreased by 39.85 points or 0.13%, closing at 29,502.15 and NIFTY Auto fell by 18.20 points.

Top 5 gainers:

Share price of GAIL increased by 6.90 points or 7.05%, closing at Rs 104.75, IndusInd Bank gained 29.25 points or 6.93% and closed at Rs 451.60. BPCL shares increased by 24.50 points or 6.63%, closing at Rs 394.10. Axis Bank was up by 24.50 points or 6.63%, closing at Rs 430.25 and Bajaj Finance shares was increased by 116.90 points or 4.89% and closed at Rs 2,507.25.

Top 5 losers:

Today, Shares of Zee Entertainment declined by 9.15 points or 4.44%, closing at Rs 197.05. Shree Cements declined by 4.11% or 908.70 points, closing at Rs 21,180.90. Eicher Motors decreased by 600.50 points or by 3.43%, closing at Rs 16,894.85. Share price of Mahindra and Mahindra fell by 13.35 points or 2.76%, closing at Rs 470.85 and Bharti Infratel declined by 6.05 points or 2,43%, closing at Rs 230.20.

Stock in news:

Most active stocks in terms of volume were Vodafone idea, SBI, PNB, Tata Motors, Ashok Leyland, India Bulls Hsg, Bank of Baroda, NCC, SAIL, Axis Bank, RBL Bank and IDFC First Bank. AstraZeneca was in news after its parent company announced a plan for merger with Gilead Sciences and hit 52 week high, closing at Rs 3,363.70. Among all the sectors ,major gain was seen in Banking and Finance sector today.

Bajaj Finance was in news as their share Price gained more than 116 points and closed at Rs 2,507.25. Axis Bank and IndusInd Bank also gained around 6 to 7 percent. Other than these stocks, today GAIL gained more than 7 percent and closed at Rs 104.75. FMCG stocks were in news as today almost all the stocks ended on negative note. Nestle fell by 260.65 points and Britannia decreased by 39.90 points.

Weekly market update (1st June – 5th June).

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Commodities, Currency, Equities, Market News, Markets - June 7, 2020

Weekly market update (1st June - 5th June).

Weekly market update (1st June – 5th June).

Overall Performance:

This week, Indian Equities followed positive cues as government has lifted certain lock down norms and other reasons such as ECB’s stimulus and strong FII inflows has supported economy to recover. Indian indices gained nearly 6 percent and almost on all days, indices ended on positive note. The S&P BSE SENSEX crossed 34,250 and NIFTY reached 10,140 mark.

On 1st June, SENSEX opened at 32,424.1 and closed at 33,303.52 (up by 879.42 points) while, on Friday it closed at 34,287.24 and increased by 306.54 points. When compared with opening price on Monday SENSEX gained around 5.7 percent this week. On the other side, NIFTY opened at 9,580.3 and closed at 10,142.15 on Friday, up by 5.9 percent.

The S&P BSE Mid-cap index gained more than 5 percent and closed at 11,855.17 on Friday. This includes stocks such as Jindal steel and powers, Future Retail limited, RBL bank, and Adani Powers. The S&P BSE Small-cap index gained around 6 percent and closed at 4,423.10 on Friday and includes stocks such as Birla Corporation Ltd, Alok Industries and JBF Industries limited.

Global indices, commodities and Currency:

Global index DAX was trading at 11,586.85 down by 194.28 points or 1.65% on Monday while today it is trading at 12,847.68 up by 417.12 points. NASDAQ was trading 9,489.87 up by 320 points or 3.36% while now it is trading at 9,814.08, up by 198.27 and CAC was trading at 4,753.87, increased by 1.24% or 58.43 points, now trading at 5,197.79 up by 185.81 points.

When market closed on Monday, Gold was trading at 46,774.00 up by 120 points and 0.26% and is now trading at 45,698. Silver was trading at 50,298 up by 180 points and 0.36%, currently trading at 47,351 down by 1,460 points.

On Monday, at the time of closing of Indian indices, USD was trading at Rs 75.54 which is now trading at Rs 75.58. EURO was trading at Rs 83.90, currently trading at Rs 85.53 and GBP was trading at Rs 93.51 which is now trading at Rs 96.15.

Sector wise:

This week major gain was seen in Banking, Financial, IT, Energy and Auto Sector. NIFTY Bank increased by 1,737.25 points (in this week, comparing to the opening price of Monday), closed at 21,034.50.

Top 5 gainers:

This week, share price of Tata Motors increased by 27.30% or by 23.75 points, closing at Rs 110.75. Bajaj Finance gained 22.35% or 436.70 points, closing at Rs 2,390.35 and shares of Bajaj Finserv jumped by 18.88 percent or 831.50 points, closing at Rs 5,236.40. SBI’s share price increased by 26.50 points or 16.43 percent, closing at Rs 187.80 this week, and share price of Tata Steel gained 43.75 points or 14.82 percent and closed at Rs 338.95.

Top 5 losers:

SRF’s share price fell by 3.77 percent or by 143.05 points and closed at Rs 3,648.00. This week, share price of Indraprastha Gas decreased by 3.16 percent or 15.95 points, closing at Rs 488.75. TCS fell by 2.19 % or 45.80 points, closing at Rs 2,048.10 shares. Tata Communications declined by 2.05 percent or 9.85 points, closing at Rs 470.10 and share price of Marico declined by 2.01% or 6.70 points and closed at Rs 326.45 on Friday.

Stocks in news:

This week many stocks locked in the upper circuit which includes shoppers shop, IDBI Bank, Canara Bank, HEG, Adani Green Energy and KEI industries. Major gain was seen in Banking, Finance and Auto sector in this week. Bajaj Finance and Bajaj Finserv were in news as share price of their company increased by 436.70 points and 831.50 points, closing at Rs 2,390.35 and Rs 5,236.40 respectively. In auto sector, major gain was seen in shares of Tata motors as they started operations at all their plants. It increased by 27.30% or by 23.75 points, closing at Rs 110.75.

Shares of SBI increased more than 16 percent after they reported profit of Rs 3,580.81 crore in their Q4 FY20 results and closed at Rs 187.80. Other than these stock, most active in terms of volume includes stocks such as Vodafone Idea, Axis Bank, Bharti Airtel, IDFC First Bank, SAIL, NCC, Bank of Baroda, Tata Motors, Jindal Steel, ITC, ICICI bank, Adani power, Tata power and SBI.

Market update 5th June 2020. Market ends week in a positive way.

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