Sensex Trades Marginally Lower; Dow Futures Up By 27 Points

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 93 points, down 0.2% at 52,011 levels.

Meanwhile, the NSE Nifty is trading down by 26 points.

Adani Ports & SEZ and Hero MotoCorp are among the top gainers today. Bajaj Finserv and Nestle India are among the top losers today.

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

The BSE Small Cap index is trading up by 0.7%.

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

On the other hand, stocks from the FMCG 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 5 points (flat) while Dow Futures are trading up by 27 points (up 0.1%)

The rupee is trading at 72.81 against the US$.

Gold prices are trading up by 0.4% at Rs 46,698 per 10 grams.

In global markets, gold prices fell to near two-week lows amid a stronger US dollar and hardening of US bond yields. Spot gold was down 0.2% to US$ 1,791.4 per ounce.

Tracking softer global prices, gold prices in India skidded for the fifth day in a row. On MCX, April gold futures were down 0.3% to Rs 46,772 per 10 grams, falling close to their lowest levels since June 2020.

Note that the recent fall in global rates and import duty cut in the Budget has pushed gold prices in India to near multi-month lows. In August gold had hit a record high of Rs 56,200 per 10 grams.

Moving on to stock-specific news...

Among the buzzing stocks, today is Adani Ports & SEZ.

Adani Ports and Socio-Economic Zone (APSEZ) rose over 5% in early trade today, touching its 52-week high after the company completed the acquisition of Dighi Port (DPL) for Rs 7.1 billion.

The company had intimated the commencement of this development to stock exchanges on March 6, 2020.

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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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