Sensex Trades Near Record-High, Dow Futures Up By 29 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 155 points, up 0.3%, at 53,034 levels.

Meanwhile, the NSE Nifty is trading up by 55 points.

UltraTech Cement and Shree Cement are among the top gainers today. Tech Mahindra and TCS are among the top losers today.

The BSE Mid Cap index is trading up by 0.9%.

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

On the sectoral front, stocks from the basic materials and banking sector, are witnessing most of the buying interest.

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

US stock futures are trading mixed today.

Nasdaq Futures are trading down by 15 points (down 0.1%) while Dow Futures are trading up by 29 points (up 0.1%).

The rupee is trading at 74.32 against the US$.

Gold prices are trading up by 0.7% at Rs 47,648 per 10 grams.

In global markets gold prices were steady today and edged towards US$ 1,800, boosted by a subdued dollar. Spot gold was steady near a two-week high of US$ 1,792.3 per ounce.

Supported by positive global cues, gold prices edged higher in Indian markets. On MCX, gold futures were up 0.3% to near a two-week high of Rs 47,445 per 10 grams in early trade. In the previous session, gold had edged up 0.1%.

Moving on to stock-specific news...

Among the buzzing stocks, today is NMDC.

The Government of India will sell about 7.5% of its stake in NMDC through an offer for sale (OFS) which will help it collect over Rs 36.2 bn in divestment receipts.

The government will sell a 4% stake or 117.2 m shares in the iron ore producer at a floor price of Rs 165 each. The floor price has been set at a nearly 6% discount to the stock's closing price on 6 July 2021.

The OFS also includes a greenshoe option to sell an additional 3.5% shareholding or 102.2 m shares of the public sector undertaking (PSU).

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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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