Sensex Trades Over 200 Points Higher; Dow Futures Down By 90 Points

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

The BSE Sensex is trading up by 209 points, up 0.4% at 50,058 levels.

Meanwhile, the NSE Nifty is trading up by 76 points.

BPCL and Mahindra & Mahindra are among the top gainers today. ONGC and HDFC are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap index are trading up by 0.9%.

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

On the other hand, stocks from the banking 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 43 points (down 0.3%) while Dow Futures are trading down by 90 points (down 0.3%)

The rupee is trading at 73.37 against the US$.

Gold prices are trading down 0.2% at Rs 45,223 per 10 grams.

In international markets, gold prices showed mixed trends. Gold prices fell amid better-than-expected US ISM manufacturing data and strength in the dollar index.

Tracking a muted trend seen in international spot prices, India Gold MCX April futures edged lower today. On MCX, April gold contracts were trading lower by 0.6% at Rs 45,050 for 10 grams in early trade.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Moving on to stock-specific news...

Among the buzzing stocks, today is BPCL.

Privatization-bound Bharat Petroleum Corporation (BPCL) on March 1, 2021, said it will exit the Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India and Engineers India for Rs 98.7 billion.

The sale of Numaligarh Refinery clears the way for the privatization of India's second-largest fuel retailer.

In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.7% stake to state-owned firms. A consortium of Oil India, Engineers India, and the Government of Assam expressed interest in buying the stake and the BPCL board on Monday approved the sale.

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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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