Share markets in India are presently trading marginally higher.
The BSE Sensex is trading up by 187 points, up 0.4% at 52,487 levels.
Meanwhile, the NSE Nifty is trading up by 36 points.
Bajaj Finance and Coal India are among the top gainers today. Adani Ports and SBI are among the top losers today.
The BSE Mid Cap index is trading down by 0.3%.
The BSE Small Cap index is trading up by 0.2%.
On the sectoral front, stocks from the software sector, are witnessing most of the buying interest.
On the other hand, stocks from the power sector, are witnessing most of the selling pressure.
US stock futures are trading mixed today.
--- Advertisement ---
The Only 20 Stocks to Own Forever?
After studying the Indian stock markets for 20 years now...
Our Co-head of Research Tanushree Banerjee has zeroed in on the ultimate list of Forever Stocks that have the potential to permanently lift you into the premier orbit of extreme wealth.
On June 21 at 5pm, Tanushree will be revealing the full details on the complete list of these stocks for Indian investors.
You Register your FREE spot for her Forever Stocks event with this link.
------------------------------
Nasdaq Futures are trading up by 8 points (up 0.1%) while Dow Futures are trading down by 7 points (flat).
The rupee is trading at 72.97 against the US$.
Gold prices are trading up by 0.3% at Rs 49,357 per 10 grams.
Gold prices in India continued to struggle for the sixth day in a row, moving in a very narrow range. On MCX, gold futures were up 0.2% at Rs 49,275 per 10 grams in early trade,
Note that gold has struggled in a narrow range after hitting a 5-month high of Rs 49,750 last week. In August last year, the precious metal had hit a record high 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 eClerx.
--- Advertisement ---
READ: FULL Transcript of Our Urgent Broadcast
The full transcript of our urgent broadcast on India's Revival is available for a limited time now.
In case you missed watching our broadcast LIVE...
You can see all the important highlights from our broadcast in this transcript.
Please note that we may take this transcript off the internet any minute.
So it is highly recommended you read it immediately.
Click Here to Read the Transcript NOW
------------------------------
Shares of eClerx Services were locked in 20% upper circuit on the BSE today after the company reported healthy March quarter numbers.
The company reported a 78.3% rise in net profit at Rs 987.5 m for the March 2021 quarter, which was largely on the back of an improvement in staff utilization.
Sales of the BPO firm rose 34.7% to Rs 4.7 bn against Rs 3.5 bn in the quarter ended March 2020.
As a result, the company's earnings before interest, taxes, depreciation and amortization (EBITDA) also increased by 55.9% to Rs 1.2 bn from Rs. 789.5 m in the March 2020 quarter.
eClerx is an Indian IT consulting and outsourcing multinational company based in Mumbai and Pune.
The company provides business process management, automation and analytics services to a number of Fortune 2000 enterprises, including some of the world's leading financial services, communications, retail, and technology companies.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, eClerx shares were trading up by 20% on the BSE.
Speaking of the stock markets, India's #1 trader, Vijay Bhambwani shares the best 'unlock' investments you can make in the market, in his latest video for Fast Profits Daily.
Tune in here to find out more:
Moving on to news from the indian pharma sector...
Suven Pharmaceuticals (SPL) rallied over 6% in early trade today after the company entered into a Memorandum of Understanding (MoU) with CSIR-Indian Institute of Chemical Technology, Hyderabad (CSIR-IICT) and CSIR-National Institute of Interdisciplinary Science & Technology, Thiruvananthapuram (NIIST).
BREAKING: It's Good Time to Invest in Gold, but Just Don't Go Blindfolded
The MoU is for the process technology transfer and manufacture of anti-Covid 19 drugs Molnupiravir and 2-DG.
In a regulatory filing, the company said -
Molnupiravir, an antiviral drug, was initially developed for the treatment of influenza. It is repurposed to completely suppress the transmission of the Covid-19 virus within 24 hours, according to a recent study published in the journal Nature Microbiology.
The synthetic process know-how for Molnupiravir was sourced from CSIR-NIIST and the scale-up process was successfully carried out by CSIR-IICT.
The complete technology know-how will be transferred to Suven Pharmaceuticals, which will in turn manufacture and launch the drug in the domestic market as an effective medication for Covid-19 infected patients.
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!
Read the latest Market Commentary
What else is happening in the markets today? Dig in...
CIPLA share price has hit an all time high at Rs 982 (down 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (down 0.4%) and SANOFI INDIA (up 0.4%). The top losers include ERIS LIFESCIENCES and IPCA LABS (down 0.1%).
Jun 11, 2021 10:30 AMMPHASIS share price is trading up by 5% and its current market price is Rs 2,069. The BSE IT is up by 0.8%. The top gainers in the BSE IT Index are MPHASIS (up 5.0%) and ECLERX SERVICES (up 20.0%). The top losers are WIPRO (down 0.4%) and FIRSTSOURCE SOLUTIONS (down 3.6%).
Jun 11, 2021 09:44 AMWIPRO share price has hit an all time high at Rs 556 (down 0.3%). The BSE IT Index is up by 0.5%. Among the top gainers in the BSE IT Index today are WIPRO (down 1.2%) and L&T INFOTECH (up 1.2%). The top losers include HEXAWARE TECHNOLOGIES and PERSISTENT SYSTEMS (down 0.2%).
Jun 11, 2021 09:44 AMCIPLA share price has hit an all time high at Rs 979 (up 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (up 0.3%) and ABBOTT INDIA (up 0.2%). The top losers include SUN PHARMA ADV. RES. (down 0.1%) and WOCKHARDT (down 0.1%).
Jun 11, 2021 09:30 amIndian share markets open higher. The BSE Sensex opened up by 248 points, while the Nifty is trading higher by 75 points.
Jun 11, 2021 09:38 AMITD CEMENTATION INDIA share price is trading up by 5% and its current market price is Rs 90. The BSE REALTY is up by 0.1%. The top gainers in the BSE REALTY Index is ITD CEMENTATION INDIA (up 5.2%). The top losers are GODREJ PROPERTIES (down 0.3%) and OBEROI REALTY (down 0.4%).
View More Indian Share Market NewsTo become a better intraday trader, follow these rules religiously.
Jun 8, 2021This is why I'm bullish on the hotel and hospitality sector.
May 31, 2021Is the Indian central bank correct in warning you about a market crash?
Jun 2, 2021Get ready to profit from a massive stimulus that you've never seen before.
More
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!