Sensex Trades Over 200 Points Higher, Dow Futures Up By 93 Points

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

The BSE Sensex is trading up by 288 points, up 0.6% at 50,089 levels.

Meanwhile, the NSE Nifty is trading up by 84 points.

Hindalco and Tata Motors are among the top gainers today. Dr Reddy's and Infosys are among the top losers today.

The BSE Mid Cap index is trading up by 0.4%.

The BSE Small Cap index is trading flat.

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

On the other hand, stocks from the software 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 37 points (up 0.3%) while Dow Futures are trading up 93 points (up 0.3%)

The rupee is trading at 72.48 against the US$.

Gold prices are trading up by 1% at Rs 45,269 per 10 grams.

In global markets, spot gold today rose 0.5% after the US Federal Reserve reiterated its stance to keep benchmark rates near-zero through at least 2023 while keeping interest rate unchanged near zero. The US dollar fell sharply overnight making the greenback-denominated metal cheaper for non-US investors.

Gold prices in Indian markets jumped today after the US Federal Reserve maintained its easy monetary policy stance. On MCX, gold futures rose 0.8% to Rs 45,189 per 10 grams. In the previous session, gold had ended flat.

Moving on to stock specific news...

Among the buzzing stocks today is BHEL.

Bharat Heavy Electricals Limited (BHEL) announced that it has emerged as the lowest bidder at Rs 108 billion for the fleet mode tender floated by the Nuclear Power Corporation of India (NPCIL) for its 6x700 megawatt (MW) Turbine Island Package Projects.

Notably, PHWRs (Pressurised Heavy Water Reactors) are the mainstay of the Indian Nuclear Power Programme and 12 out of 18 operating PHWRs of NPCIL are equipped with BHEL-supplied Steam Turbine Generator sets with the balance from Canada and Ukraine. These sets have continuously been exhibiting excellent performance with Kaiga Unit -1 creating a world record of uninterrupted operation for 962 days, BHEL said in an exchange filing.

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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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