Sensex Trades Higher; IT & Energy Stocks Gain

Share markets in India are presently trading on a positive note. All sectoral indices are trading in green with stocks in the energy sectorIT sector and oil & gas sector witnessing maximum buying interest.

The BSE Sensex is trading up by 386 points (up 1.1%), while the NSE Nifty is trading up by 93 points (up 0.9%). The BSE Mid Cap index is trading on a flat note and the BSE Small Cap index is trading up by 0.5%.

The rupee is trading at Rs 70.98 against the US$.

The rupee appreciated by 26 paise to 70.86 against the US dollar in opening trade today, driven by weakening of the greenback in overseas markets after the Federal Reserve kept interest rate unchanged.

On Wednesday, the rupee had weakened by just 1 paise to close at 71.12 against the dollar.

Market participants are tracking Bharti Airtel share priceSBI share priceVedanta share price and Hero MotoCorp share price as these companies are set to announce their December quarter results later today.

You can also read our recently released Q3FY19 results: Reliance IndustriesFederal BankInfosysTCSTridentHDFC bankMaruti SuzukiDHFLGruh Finance.

Coal India share price is in focus today as the company said its board would meet on February 4th to consider and approve a share buyback.

The company had announced that it would raise about Rs 10.6 billion by selling shares to its subsidiaries MCL (Mahanadi Coalfields Limited), SECL (South Eastern Coalfields Limited) and NCL (Northern Coalfields Limited).

This will be the company's second buyback in two years. Coal India had gone for a buyback in 2017, when the government raised about 26.4 billion from the buyback.

According to reports, the company is likely to buy back 1% of the paid-up equity.

In another news, HEG share price is also in focus today as the company has fixed 9 February 2019, as the record date for the buyback.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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