Sensex Trades Marginally Lower, Dow Futures Down By 79 Points

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 25 points, down 0.1% at 50,168 levels.

Meanwhile, the NSE Nifty is trading down by 14 points.

UPL and Cipla are among the top gainers today. Tata Motors and ONGC are among the top losers today.

Both the BSE Mid Cap index and BSE Small Cap index are trading up by 0.7%.

On the sectoral front, stocks from the real estate 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 lower today, indicating a negative opening for Wall Street.

Nasdaq Futures are trading down by 64 points (down 0.5%) while Dow Futures are trading down by 79 points (down 0.2%).

The rupee is trading at 72.97 against the US$.

Gold prices are trading down by 0.1% at Rs 48,355 per 10 grams.

In international markets, gold prices were flat near a four-month high, ahead of the release of minutes from the US Federal Reserve's last policy meeting.

Despite positive global cues, gold prices in domestic markets dipped today for the second day in a row. On MCX, gold futures fell 0.1% to Rs 48,250 per 10 grams.

Moving on to stock-specific news...

Among the buzzing stocks, today is Adani Green Energy.

Adani Green Energy (AGEL) said that it is acquiring SB Energy India from Softbank of Japan and India's Bharti Group to add 4,954 megawatts (MW) to its renewable power portfolio. The deal is the biggest acquisition in India's renewable power sector.

The transaction values SB Energy India at an enterprise valuation of approximately US$ 3.5 bn.

The target portfolio consists of large-scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW), and 7% wind capacity (324 MW).

The portfolio comprises 1,400 MW of operational solar power capacity and a further 3,554 MW that is under construction. All projects have a 25-year power purchase agreement with sovereign-rated counterparties such as Solar Energy Corporation of India (SECI), NTPC, and NHPC.

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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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