Sensex Trades 89 Points Lower; Dow Futures Down By 126 Points

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 89 points, down 0.2% at 44,566 levels.

Meanwhile, the NSE Nifty is trading down by 10 points.

GAIL and Indian Oil Corporation are among the top gainers today. Shree Cement and HDFC Bank are among the top losers today.

The BSE Mid Cap index is trading up by 0.5%.

The BSE Small Cap index is trading up by 0.6%

On the sectoral front, stocks from the real estate sector are witnessing most of the buying interest.

On the other hand, stocks from the finance sector are witnessing most of the selling pressure.

US stock futures are trading lower today, indicating a negative opening for Wall Street indices.

Nasdaq Futures are trading down by 16 points (down 0.1%) while Dow Futures are trading down by 126 points (down 0.4%).

The rupee is trading at 73.63 against the US$.

Gold prices are trading up by 0.9% at Rs 48,699 per 10 grams.

In global markets, gold prices slipped today after jumping more than 2% in the previous session. Gold was weighed down by optimism that the global economy can finally get back on course in 2021 with some pharma giants seeking approval for a coronavirus vaccine.

Amid weak global cues, gold prices in Indian markets also dropped. On MCX, February gold futures slipped 0.2% to Rs 48,449 per 10 grams. In the previous session, gold prices had jumped 1.4% or Rs 700 per 10 grams.

Note that gold prices have been on a downward path since hitting record highs of Rs 56,200 in August. In November alone, gold prices fell about Rs 2,500 per 10 grams.

Moving on to stock-specific news...

Among the buzzing stocks, today is Phoenix mills.

India's largest mall developer, Phoenix Mills (PML) along with its subsidiaries, signed a non-binding term-sheet with an affiliate of GIC to create a strategic, retail-led mixed-use platform.

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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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