Sensex Trades Over 200 Points Higher; Dow Futures Down By 85 Points

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

The BSE Sensex is trading up by 223 points, up 0.5% at 45,302 levels.

Meanwhile, the NSE Nifty is trading up by 62 points.

IndusInd Bank and Adani Ports & SEZ are among the top gainers today. JSW Steel and Nestle India are among the top losers today.

The BSE Mid Cap index is trading up by 0.8%

The BSE Small Cap index is trading up by 1.3%.

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

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

US stock futures are trading lower today, indicating a negative opening for Wall Street indices.

Nasdaq Futures are trading down by 10 points (down 0.1%) while Dow Futures are trading down by 85 points (down 0.3%).

The rupee is trading at 73.78 against the US$.

Gold prices are trading up by 0.3% at Rs 49,313 per 10 grams.

Gold prices were mixed today in Indian markets as optimism around Covid-19 vaccines roll-outs offset hopes of a US stimulus package being passed this week. On MCX, gold prices edged 0.2% higher to Rs 49271 per 10 grams. In the previous session, gold futures had declined 0.2% to Rs 49,209 per 10 grams.

Moving on to stock-specific news...

Among the buzzing stocks, today is ONGC.

ONGC Videsh (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made a "significant" oil discovery in an onshore block in Colombia.

OVL is the operator in the block with a 70% stake. Geopark, an independent oil and gas company focused in Latin America, has the remaining 30% interest.

The company struck oil while drilling an appraisal well 'Indico-2' in CPO-5 block in Llanos Basin of Colombia. The well 'Indico-2' encountered a net pay of 147 feet which during initial testing produced oil of 35.2 degrees API in commercial quantity at the rate of 6,300 barrels per day.

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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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