Sensex Trades Marginally Lower, Dow Futures Down By 78 Points

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 143 points, down 0.3% at 52,201 levels.

Meanwhile, the NSE Nifty is trading down by 54 points.

Adani Ports and NTPC are among the top gainers today. UPL and Mahindra & Mahindra 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 0.3%.

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

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

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 19 points (up 0.1%) while Dow Futures are trading down by 78 points (down 0.3%).

The rupee is trading at 74.17 against the US$.

Gold prices are trading up by 0.5% at Rs 46,965 per 10 grams.

In domestic markets, gold prices edged lower in early trade today after a sharp fall in the previous week. On MCX, gold rates fell marginally to Rs 46,719 per 10 grams after sliding to Rs 46,633 intra-day.

Note that gold has slumped a combined Rs 1,900 in three days, in tandem with a sharp drop in global rates. As compared to the start of this month, rates are down about Rs 2,700.

In global markets, gold rates were higher today after posting their biggest weekly loss in 15 months. Spot gold was up 0.5% at US$ 1,772.3 per ounce after suffering a 6% drop last week.

The US Federal Reserve surprised the markets last week by signaling it would raise interest rates sooner than expected. As a result, the US dollar held near multi-month peaks against other major currencies, dimming the appeal of non-interest paying gold.

Moving on to stock-specific news...

Among the buzzing stocks, today is Bandhan Bank.

Shares of Bandhan Bank surged 7% on the BSE in intra-day trade today after the Assam government inked an agreement with microfinance institutions (MFIs) to regularise and repay the entire loans of stressed borrowers.

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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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