Sensex Trades Over 1600 Points Lower; Dow Futures Down By 103 Points

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

The BSE Sensex is trading down by 1692 points, down 3.3% at 49,330 levels.

Meanwhile, the NSE Nifty is trading down by 473 points.

Sun Pharmaceuticals is among the top gainers today. Mahindra & Mahindra and ICICI Bank are among the top losers today.

The BSE Mid Cap is trading down by 2.2%.

The BSE Small Cap index is trading down by 1.2%.

On the sectoral front, all sectors are trading in red with stocks from the banking sector 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 113 points (down 0.8%) while Dow Futures are trading down by 150 points (down 0.5%)

The rupee is trading at 73.04 against the US$.

Gold prices are trading down 0.4% at Rs 46,060 per 10 grams.

Gold struggled in Indian markets for the fourth day in a row and remained near 8-month lows. On MCX, gold futures were up 0.1% to Rs 46,297 per 10 grams.

Note that the precious metal has been under pressure since the start of this year amid hopes of faster global economic recovery and rising US bond yields. As compared to August highs of Rs 56,200, gold is down about 18% or about Rs 10,000.

In global markets, gold prices were flat today but were on track for their second straight weekly decline as rising US Treasury yields dented the appeal of bullion which does not pay any interest. Spot gold was flat and is on track for a 0.6% decline for the week so far.

Moving on to stock-specific news...

Among the buzzing stocks, today is DHFL.

DHFL said that it has received no objection from the Reserve Bank of India (RBI) and has filed an application with the National Company Law Tribunal (NCLT) for submission of the resolution plan of Piramal Capital & Housing Finance.

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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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