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

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

The BSE Sensex is trading up by 246 points, up 0.5% at 51,027 levels.

Meanwhile, the NSE Nifty is trading up by 112 points.

Coal India and UPL are among the top gainers today. Nestle India and Titan are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap index are trading up by 1.1%.

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

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

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up 28 points (up 0.2%) while Dow Futures are trading up by 79 points (up 0.3%)

The rupee is trading at 72.46 against the US$.

Gold prices are trading flat at Rs 46,528 per 10 grams.

Gold prices today extended decline to the third day in Indian markets amid a risk-on rally. On MCX, gold futures fell 0.2% to Rs 46,439 per 10 grams. In the previous session, gold had declined 0.5%. After the recent decline, gold prices are now down about Rs 10,000 per 10 grams as compared to August highs of Rs 56,200 per 10 grams.

In global markets, gold prices fell 0.4% as a risk-on rally in equities dimmed the appeal of the safe-haven asset. Stocks in Asia rallied today as encouraging vaccine news and dovish comments on inflation from Federal Reserve Chairman Jerome Powell boosted the market sentiment.

Moving on to stock-specific news...

Among the buzzing stocks, today is Indiabulls Real Estate.

The Competition Commission of India (CCI) has approved the proposed merger of NAM Estates and Embassy One Commercial Property Developments into Indiabulls Real Estate (IBREL).

IBREL as well as Embassy Group's arm NAM Estates and Embassy One Commercial Property Developments had entered into definitive merger documentation to amalgamate ongoing, completed, and planned residential and commercial projects of these two subsidiaries, a regulatory filing said.

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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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