Sensex Trades Over 200 Points Higher; Dow Futures Up By 65 Points

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

The BSE Sensex is trading up by 240 points, up 0.5% at 50,854 levels.

Meanwhile, the NSE Nifty is trading up by 66 points.

SBI and Kotak Mahindra Bank are among the top gainers today. Bharti Airtel and UPL are among the top losers today.

The BSE Mid Cap index is trading down by 0.2%.

The BSE Small Cap index is trading up by 0.2%.

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

On the other hand, stocks from the telecom 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 by 57 points (up 0.4%) while Dow Futures are trading up by 65 points (up 0.2%)

The rupee is trading at 72.89 against the US$.

Gold prices are trading up by 0.4% at Rs 46,880 per 10 grams.

Gold prices today struggled to edge higher after a sharp four-day fall. On MCX gold futures were up 0.3% to Rs 46,857 per 10 grams. In the previous session, gold had dropped over Rs 1,000 or 2% per 10 gram while silver had slumped Rs 1,500 or 2.1% per kg.

Note that the recent fall in global prices and import duty cut in the Budget 2020-21 has pushed gold prices in India to near seven-month lows. In August, gold had hit a record high of Rs 56,200 per 10 grams.

In global markets, gold prices edged up but still remained below the key psychological US$ 1,800 level. Spot gold added 0.2%, after dropping over 2% in the previous session. A stronger US dollar and rising US Treasury yields dented gold's appeal.

Moving on to stock-specific news...

Among the buzzing stocks, today is Hero MotoCorp.

Hero MotoCorp said it has set up a separate vertical to drive its new business of Harley-Davidson products and merchandise distribution in the country.

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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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