Sensex Jumps 600 Points, Dow Futures Up By 72 Points

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

The BSE Sensex is trading up by 695 points, up 1.4% at 50,260 levels.

Meanwhile, the NSE Nifty is trading up by 195 points.

IndusInd Bank and HDFC Bank are among the top gainers today. Power Grid Corporation and Grasim Industries are among the top losers today.

Both the BSE Mid Cap index and BSE Small Cap index are trading up by 0.9%.

On the sectoral front, all sectors are trading in green with stocks from the banking sector, witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 31 points (up 0.2%) while Dow Futures are trading up by 72 points (up 0.2%)

The rupee is trading at 73.07 against the US$.

Gold prices are trading down by 0.2% at Rs 48,444 per 10 grams.

Gold prices in India were under pressure in early trade today amid a drop in global rates. On MCX, gold futures were down 0.4% to Rs 48,358 per 10 grams.

Note that despite the recent fall, gold is near four-month highs amid rising inflation expectations and concerns over the resurgence of coronavirus cases in many countries. The extreme volatility in cryptocurrencies this week has also supported gold at lower levels.

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 JK Lakshmi Cement.

Shares of JK Lakshmi Cement surged 8% and hit a fresh 52-week high of Rs 499.7 on the BSE in intra-day trade today after the company reported a 61.3% increase in consolidated net profit at Rs 1.6 bn for the quarter ended March.

The company had posted a profit of Rs 986.3 m in the January-March period a year ago, JK Lakshmi Cement (JKLC) said in a regulatory filing.

The company's revenue from operations rose 25.2% year-on-year (YoY) to Rs 14.3 bn from Rs 11.4 bn in the year-ago quarter.

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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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