Sensex Trades Over 200 Points Higher; Dow Futures Down By 41 Points

Share markets in India are presently trading on a strong note

The BSE Sensex is trading up by 299 points, up 0.6% at 50,693 levels.

Meanwhile, the NSE Nifty is trading up by 68 points.

Asian Paints and HCL Technologies are among the top gainers today. JSW Steel and Tata Steel 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 0.4%.

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

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

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 50 points (up 0.4%) while Dow Futures are trading down by 41 points (down 0.1%)

The rupee is trading at 72.47 against the US$.

Gold prices are trading up by 0.2% at Rs 44,980 per 10 grams.

In global markets, gold prices were flat today ahead of the outcome of a U.S. Federal Reserve policy meeting. A rally in riskier assets like equities took some sheen off the precious metal.

Amid weak global cues, gold prices struggled in Indian markets. On MCX, gold futures were flat at Rs 44,930 per 10 grams. In the previous session, gold had edged 0.4% higher.

Moving on to stock-specific news...

Among the buzzing stocks, today is Aarti Drugs.

Indian pharmaceutical company, Aarti Drugs said that its board will consider a share buyback plan in its meeting on Friday, March 19, 2021.

"A meeting of the board of directors of the company is scheduled to be held on Friday, March 19, 2021, to consider inter alia, the proposal of buyback of the fully paid-up equity shares of the company including matters related/incidental thereto," Aarti Drug said in an exchange filing.

Note that a buyback is a corporate action in which a company buys back its shares from the existing shareholders usually at a price higher than the market price. When it buys back, the number of shares outstanding in the market reduces and the proportion of shares a company owns increases.

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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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