Sensex Trades In Green; HCL Technologies & Infosys Top Gainers

Share markets in India are trading on a positive note, tracking overnight gains in Wall Street indices.

Buying interest is seen in index heavyweights Infosys, Reliance Industries and HDFC Bank. Reliance Industries gained 2% after the company announced that KKR will invest Rs 55 billion for 1.28% stake in Reliance Retail.

The BSE Sensex is trading up by 219 points, up 0.6%, at 38,000 levels.

Meanwhile, the NSE Nifty is trading up by 61 points.

HCL Technologies and Infosys are among the top gainers today.

The BSE Mid Cap index is trading up by 0.3%.

The BSE Small Cap index is trading up by 0.7%.

On the sectoral front, gains are largely seen in the energy sector and realty sector.

Telecom stocks are trading deep in the red with Bharti Airtel falling over 6%.

US stock futures are trading mixed today. Nasdaq Futures are trading down by 17 points (down 0.1%), while Dow Futures are trading up by 161 points (up 0.6%).

The rupee is trading at 73.58 against the US$.

Gold prices are trading down by 1% at Rs 49,883 per 10 grams.

Even with the recent volatility in prices, gold and silver remain among the best-performing commodities this year to combat the fallout from the coronavirus pandemic.

So, is it time to book profits in gold and silver?

In news from the mutual fund's space, the markets regulator on Tuesday said it would tweak norms for debt mutual funds (MFs) to improve liquidity and help schemes meet redemption requests at a short notice.

The guidelines could mandate all debt schemes to hold a certain percentage of their portfolios in liquid assets and conduct regular stress tests to assess their liquidity profile. An additional transaction cost could be levied for redemption in schemes that have illiquid papers.

Addressing the industry at Association of Mutual Funds in India's (Amfi's) 25th AGM, market regulator's chairman Ajay Tyagi said the regulator was facilitating the establishment of an expert committee to frame a stress testing methodology encompassing liquidity, credit, and market risks for all open-ended debt MF schemes.

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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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