Sensex Trades Over 200 Points Higher; Dow Futures Down By 103 Points

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

The BSE Sensex is trading up by 226 points, up 0.5% at 49,977 levels.

Meanwhile, the NSE Nifty is trading up by 113 points.

Coal India and HDFC Bank are among the top gainers today. GAIL and TCS 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 0.6%.

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

On the other hand, stocks from the IT sector are 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 104 points (down 0.8%) while Dow Futures are trading down by 103 points (down 0.3%)

The rupee is trading at 72.29 against the US$.

Gold prices are trading up by 0.1% at Rs 46,742 per 10 grams.

Gold prices were flat today in Indian markets despite positive global cues. On MCX, gold futures were 0.06% higher at Rs 46,830 per 10 grams. In the previous session, gold had inched 0.2% lower.

Note that gold has been under pressure this year on fears that prospects of a faster economic recovery will ignite inflation and lead to rising lending rates, especially in the US, where Congress is moving forward on a US$ 1.9 billion stimulus plan. In August, gold had hit a record high of Rs 56,200 and has been under pressure since then.

Moving on to stock-specific news...

Among the buzzing stocks, today is Aurobindo Pharma.

Aurobindo Pharma on February 23, 2021, said that it has inked a pact to acquire a 26% stake each in two Hyderabad-based solar power generating companies.

The drug firm has entered into binding agreements to invest Rs 53.8 million each in NVNR (Ramannapet I) Power Plant and NVNR (Ramannapet II) Power Plant, aggregating to Rs 107.6 million, Aurobindo Pharma said in a regulatory filing.

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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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