Share markets in India are presently trading on a negative note.

The BSE Sensex is trading down by 586 points, down 1.2% at 49,466 levels.

Meanwhile, the NSE Nifty is trading down by 168 points.

Asian Paints and Cipla are among the top gainers today. Hindalco and Tata Steel are among the top losers today.

The BSE Mid Cap index is trading down by 0.6%.

The BSE Small Cap index is trading down by 0.5%.

On the sectoral front, stocks from the banking sector, are witnessing most of the selling pressure.

On the other hand, stocks from the healthcare sector and power sector, are witnessing most of the buying interest.

US stock futures are trading mixed today.

Nasdaq Futures are trading up 33 points (up 0.3%) while Dow Futures are trading down 24 points (down 0.1%)

The rupee is trading at 72.56 against the US$.

Gold prices are trading up by 0.3% at Rs 44,792 per 10 grams.

In global markets, gold prices were higher today despite a stronger US dollar. Spot gold was up 0.3% as the precious metal was able to attract buy-on-dips demand amid a fall in US bond yields and surge in coronavirus cases in some parts of the world.

Gold prices in India rose today after a two-day fall while silver edged higher, tracking positive global cues. On MCX, gold futures today rose 0.4% to Rs 44,835 per 10 grams while silver gained 0.3% to Rs 65,190 per kg.

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.

Moving on to stock-specific news...

Among the buzzing stocks, today is Hero MotoCorp.

Two-wheeler maker Hero MotoCorp on March 23, 2021, said it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021, in order to partially offset the impact of higher commodity costs.

"The price hike has been necessitated to partially offset the impact of increased commodity costs," Hero MotoCorp said in a filing to BSE.

The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market, it added.

The company has accelerated its cost-savings program to ensure minimal impact on the customer, Hero MotoCorp said.

Hero MotoCorp, formerly Hero Honda, is an Indian multinational motorcycle and scooter manufacturer based in New Delhi, India. The company is the largest two-wheeler manufacturer in the world, and also in India, where it has a market share of about 46% in the two-wheeler category.

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

At the time of writing, shares of Hero MotoCorp were trading up by 0.2% on the BSE.

Moving on to news from the energy sector...

Saudi Aramco Remains In Discussion To Pick Stake In Reliance Unit

Saudi Aramco remains in discussion with Reliance Industries for a potential deal to buy a 20% stake in its oil-to-chemical (O2C) unit, Morgan Stanley said on March 22, 2021, citing the Saudi firm's analyst call post announcing 2020 earnings.

Reliance Chairman and CEO, Mukesh Ambani had in August 2019 announced talks for the sale of a 20% stake in the oils-to-chemicals (O2C) business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed.

Besides refineries and petrochemical plants, the O2C business also comprises a 51% stake in the fuel retailing business. It, however, does not include the upstream oil and gas producing assets such as the flagging KG-D6 block in the Bay of Bengal.

Reliance had in 2019 put US$ 75 billion as the value of O2C business after signing a non-binding letter of intent with Saudi Aramco.

Aramco buying a 20% stake in the O2C business would allow Reliance to build financial muscle as it carves out space for itself in the highly competitive omnichannel retail. It would also allow Aramco to have a stake in one of the best refineries in the world.

Reliance refineries are one of the most complex in the world, allowing it to earn a significant premium to the benchmark Singapore gross refining margin. Its petrochemical complexes rank among the biggest in the world, whose dependency on outside raw materials is minimal. It has leadership positions both in the domestic polymer and polyester markets.

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