Sensex Trades Marginally Lower; Dow Futures Up By 90 Points

Share markets in India are presently trading marginally lower.

The BSE Sensex is trading down by 34 points, up 0.1% at 48,844 levels.

Meanwhile, the NSE Nifty is trading down by 21 points.

Grasim and UPL are among the top gainers today. Reliance and Eicher Motors are among the top losers today.

The BSE Mid Cap index is trading down by 0.7%.

The BSE Small Cap index is trading down by 0.9%.

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

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

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 99 points (up 0.7%) while Dow Futures are trading up by 90 points (up 0.3%)

The rupee is trading at 72.91 against the US$.

Gold prices are trading down by 0.4% at Rs 48,960 per 10 grams.

Gold prices in India continued to be weak for the third day in a row. On MCX, gold futures dipped 0.02% to  Rs 49,131 per 10 grams despite positive global cues. In the previous session, gold had slipped 0.5%. Hopes of big US fiscal measures continue to support gold prices on the downside.

In global markets, gold prices edged higher on optimism that US lawmakers will soon pass the massive economic stimulus to revive the world's largest economy. Spot gold rose 0.3% after dropping 0.9% in the previous session.

Note that gold is considered a hedge against inflation and currency debasement, likely from a widespread stimulus.

Moving on to stock-specific news...

Among the buzzing stocks, today is Tata Motors

Tata Motors has raised prices of its passenger vehicle (PV) range to a maximum of Rs 26,000 depending upon the variant. The new price hike has come into effect from January 22, 2021.

Tata Motors said, "Rising input costs and material costs of steel, precious metals, and semiconductors have compelled the company to pass on a part of the cost to customers."

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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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