Sensex Trades Over 1,000 Points Higher; Dow Futures Up By 144 Points

Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 1,019 points, up 2.1% at 49,619 levels.

Meanwhile, the NSE Nifty is trading up by 286 points.

Tata Motors and HDFC are among the top gainers today. HDFC Life and Bajaj Finserv are among the top losers today.

The BSE Mid Cap index is trading up by 1.4%.

The BSE Small-Cap index is trading up by 1.2%.

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

On the other hand, stocks from the energy 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 80 points (up 0.6%) while Dow Futures are trading up by 144 points (up 0.5%)

The rupee is trading at 72.97 against the US$.

Gold prices are trading down by 0.4% at Rs 48,200 per 10 grams.

Gold prices fell sharply in Indian markets today for the second day in a row. On MCX, gold futures fell 0.6% to Rs 48,438 per 10 grams. Silver futures slumped 2.2% to Rs 72,009 per kg on profit-taking after the recent surge. Gold prices had plunged 1.2% or Rs 627 per 10 gram in the previous session while silver had surged 6% or Rs 4238 per kg.

Note that in Budget 2021, the Indian government has slashed import duties on gold and silver. The government cut import duties on gold and silver to 7.5% from 12.5% but imposed a 2.5% cess on the imports. After the changes, gold imports would effectively attract 10.75% tax against 12.5% earlier. The government also reduced import duty on gold dore and silver dore, non-refined mined gold or silver.

Speaking of stock markets, India's #1 trader, Vijay Bhambwani, talks about why he thinks the big boys in the market are now under threat from retail traders., in his latest video for Fast Profits Daily.

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