Sensex Ends 214 Points Higher; Banking And Power Stocks Witness Buying

Indian share markets continued their momentum during closing hours today and ended their session on a positive note.

At the closing bell, the BSE Sensex stood higher by 214 points. Meanwhile, the NSE Nifty stood higher by 59 points.

NTPC and Asian Paints were among the top gainers today.

SGX Nifty was trading at 11,376, up by 77 points, at the time of writing.

The BSE Mid Cap index ended up by 0.6%. The BSE Small Cap index ended up by 1.4%.

Sectoral indices ended on a positive note with stocks in the banking sector and power sector witnessing buying interest.

Asian stock markets ended on a positive note. As of the most recent closing prices, the Hang Seng was up 1.3% and the Shanghai Composite stood higher by 0.5%. The Nikkei ended up by 0.2%.

The rupee is trading at 74.93 against the US$.

Gold prices are trading down by 0.5% at Rs 51,900 per 10 grams.

In the previous session, gold had slumped 1.8% or Rs 950 per 10 gram while silver had crashed 2% or Rs 1,400 per kg.

Gold prices have been volatile in India after hitting a new high of Rs 56,191 per 10 grams.

Speaking of gold, note that the media and experts have been taking potshots at Buffett of late for buying a gold mining stock. This seems to be an acknowledgment of his mistake in not buying gold a decade back.

But is this truly a case of 'error of omission' as Buffett would call it? Is Buffett's exposure to gold significant?

Should you too shun stocks and significantly increase your exposure to the yellow metal?

Moving on to stock-specific news...

Aarti Drugs was among the top buzzing stocks today.

Aarti Drugs share price witnessed huge buying interest and rose 10% today after the Board of Directors approved the issuance of a fully paid-up bonus share.

The Board of Directors at its Meeting held on August 20, 2020, have approved the issuance of fully paid-up bonus shares in the ratio of 3:1 i.e. three bonus equity shares of Rs 10 each for one fully paid-up equity share of Rs 10 each.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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