Sensex Trades Marginally Higher; Dow Futures Up By 99 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 87 points, up 0.2% at 49,579 levels.

Meanwhile, the NSE Nifty is trading up by 15 points.

UPL and IndusInd Bank are among the top gainers today. HCL Technologies and Wipro are among the top losers today.

The BSE Mid Cap index is trading up by 0.2%.

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

On the sectoral front, stocks from the capital goods sector and energy sector are witnessing most of the buying interest.

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

US stock futures are trading mixed today.

Nasdaq Futures are trading down by 12 points (down 0.1%) while Dow Futures are trading up by 99 points (up 0.3%).

The rupee is trading at 73.11 against the US$.

Gold prices are trading down 0.8% at Rs 48,905 per 10 grams.

In global markets, gold prices were lower today amid higher US Treasury yields and a stronger dollar. Bond yields and the dollar rose today after a report indicated that US President-elect Joe Biden plans a massive COVID-19 relief package of about US$ 2 trillion.

In domestic markets, gold prices fell sharply with MCX February futures slumping below the Rs 49,000 level. Gold was down 0.9% or Rs 450 to Rs 48,860 per 10 grams.

Note that the precious metal is now down about Rs 7,500 from record highs of Rs 56,200, hit in August.

Moving on to stock-specific news...

Among the buzzing stocks, today is Wipro.

Wipro on January 13 posted a strong set of numbers for the December quarter. The company's revenues during the period stood at Rs 156.7 billion while net profit was at Rs 29.7 billion.

The operating margin of the company expanded sequentially by 243 bps to 21.7%, significant growth in the last 22 quarters. The company surpassed all market estimations and gave revenue guidance of 1.5%-3.5% for the March quarter.

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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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