Sensex Trades Marginally Lower; Dow Futures Down By 39 Points

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 160 points, down 0.3% at 50,685 levels.

Meanwhile, the NSE Nifty is trading down by 66 points.

ONGC and GAIL are among the top gainers today. IndusInd Bank and Wipro are among the top losers today.

The BSE Mid Cap index trading down by 1.3%.

The BSE Small Cap index is trading down by 0.8%.

On the sectoral front, stocks from the telecom sector are witnessing most of the selling pressure.

On the other hand, stocks from the energy sector are witnessing most of the buying interest.

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

Nasdaq Futures are trading down 34 points (down 0.3%) while Dow Futures are trading down by 39 points (down 0.1%)

The rupee is trading at 72.83 against the US$.

Gold prices are trading down 0.6% at Rs 44,293 per 10 grams.

In global markets, gold continued its downward trend with prices declining 0.2% to US$ 1,693.8 per ounce.

Amid weak global cues, gold prices suffered further losses today in domestic markets. On MCX, gold futures were down 0.3% to Rs 44,400 per 10 grams in its eighth day of decline in the past nine sessions that has taken prices to more than 10-month lows.

Note that the precious metal is down more than 2% this week amid a hardening of US bond yields and a stronger US dollar. Higher yields increase the opportunity cost of holding bullion, which pays no interest.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Moving on to stock-specific news...

Among the buzzing stocks, today is Indiabulls Housing Finance.

Indiabulls Housing Finance has raised US$150 million (Rs 10.9 billion) by issuing foreign currency convertible bonds, the company said on March 4, 2021. The FCCBs, set to mature on March 4, 2026, bear a coupon rate of 4.5%. The bonds are proposed to be listed on Singapore Exchange Securities Trading Limited. Indiabulls said as many as 45 million equity shares of the company would be in the trade-off with the FCCBs.

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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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