Sensex Trades Marginally Higher, Dow Futures Up By 120 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 88 points, up 0.2% at 49,822 levels.

Meanwhile, the NSE Nifty is trading up by 37 points.

JSW Steel and Tata Steel are among the top gainers today. Hero MotoCorp and Eicher Motors are among the top losers today.

The BSE Mid Cap index is trading up by 0.1%.

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

On the sectoral front, stocks from the metal sector, are 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 higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 115 points (up 0.8%) while Dow Futures are trading up by 120 points (up 0.4%)

The rupee is trading at 74.12 against the US$.

Gold prices are trading down 0.2% at Rs 47,020 per 10 grams.

Gold prices today edged higher in early trade in Indian markets after a five-day decline. Gold futures on MCX were up 0.4% to Rs 47,265 per 10 grams. In the previous session, gold had declined 0.4%.

Note that last week gold rates in India had risen to a two-month high of Rs 48,400 and corrected thereafter following a decline in international prices.

Moving on to stock-specific news...

Among the buzzing stocks, today is Morepen Laboratories.

Pharmaceutical company Morepen Laboratories' board has approved an investment proposed by Switzerland-based Corinth Group.

"The board of directors of Morepen Laboratories approved the investment proposed by Corinth Group, a global private investment Group to the extent of US$ 32.5 million in the parent company, Morepen Laboratories," the company said in the release.

The investment is part of a US$ 100 million investment in the promoter group, subject to the approval of the shareholders and other regulatory bodies, it added. The remaining US$ 67.5 million would be in the promoter group companies.

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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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