MORNING UPDATES

 

Indices at 10:00 am

Nifty50 13,838 ▲ 89 (+0.6%)

Sensex 47,245 ▲ 272 (+0.5%)

Nifty Bank 30,746 ▲ 344 (+1.1%)

 In the news

 

 Coal India lines up new ventures

 

         The state-owned coal miner plans to enter two new businesses, namely aluminium mining and solar power. The stock was upbeat today.

     The company has received approval to venture into the aluminium value chain (mining-refining-smelting) and the solar-power value chain (ingot-wafer-cell-module and generation). Reports suggest that this diversification would entail an investment of ₹1 lakh crore.

 

Lupin gets FDA nod for generic

 

      Lupin has received a tentative USFDA approval to market its generic treatment for toenail fungal infection. 

     The topical solution is the generic equivalent of Jublia (product of Bausch Health Americas, Inc), which had an estimated annual sales of $222.9 million in the US. The stock is up 0.5% today.

 

Gold jumps on aid relief

 

       As US President Trump signed the long-awaited relief aid bill, gold and silver jumped by around 0.8% and 3.0%, respectively. 

     Further, the US dollar index continued to remain weak giving gold an upward push. This year, gold has risen nearly 25% and silver has surged 49%.

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Sectoral indices

 

Top gainers	Top losers
Nifty Metal ▲ 2.5%	Nifty IT ▼ 0.5%
Nifty PSU Bank ▲ 1.9%	NA

 

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Global markets	Today's movement
Nikkei 225 (Japan)	▲ 0.3%
Hang Seng (Hong Kong)	▲ 0.1%
SSE Composite (China)	▲ 0.8%
Dow Jones (US)	▲ 0.3%

Fact of the day

In 1974, FedEx was on the verge of bankruptcy. It was saved when the founder took the last $5,000 of the company's assets and turned it into $27,000 by gambling in Las Vegas.

Source: Huffington Post

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Disclosures and Disclaimer

 

Investment in securities markets are subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.

 

Upstox Team

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