Sensex Trades Marginally Higher; Dow Futures Down By 47 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 170 points, up 0.3% at 50,426 levels.

Meanwhile, the NSE Nifty is trading up by 41 points.

ONGC and Coal India are among the top gainers today. IndusInd Bank and Tech Mahindra are among the top losers today.

The BSE Mid Cap index is trading up by 1.4%.

The BSE Small Cap index is trading up by 1.5%.

On the sectoral front, stocks from the power sector, witnessing most of the buying interest.

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

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

Nasdaq Futures are trading down by 4 points (flat) while Dow Futures are trading down by 47 points (down 0.2%)

The rupee is trading at 72.90 against the US$.

Gold prices are trading down by 0.7% at Rs 47,400 per 10 grams.

Gold and silver prices today edged lower in Indian markets today amid a slide in rates of precious metals in global markets. On MCX, gold futures skidded 0.6% to Rs 47549 per 10 grams, extending losses to the fourth day.

Note that in four days, gold has lost nearly Rs 2000 per 10 grams amid a slide in global rates and import duty cut announced in Budget 2021. Silver futures on MCX today declined 1% to Rs 67,848 per kg.

Moving on to stock-specific news...

Among the buzzing stocks, today is Apollo Tyres.

Shares of Apollo Tyres rallied after the company reported a more-than-double increase in its consolidated net profit to Rs 4.4 billion in the December quarter (Q3FY21) on the back of healthy operational performance and other income.

The auto tires and rubber products company had clocked in a net profit of Rs 1.7 billion in the year-ago period and had posted a net loss of Rs 2.4 billion in the last quarter.

Total consolidated operating income rose 17.1% year-on-year (YoY) to Rs 51 billion. The company attributed the robust topline performance to strong demand recovery across segments in India, which was driven by strong growth in both replacement and OEM segments.

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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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