Sensex Trades Over 300 Points Higher; Dow Futures Down By 188 Points

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

The BSE Sensex is trading up 311 points, up 0.6% at 49,093 levels.

Meanwhile, the NSE Nifty is trading up by 78 points.

Infosys and Wipro are among the top gainers today. Hindalco and Tata Steel are among the top losers today.

The BSE Mid Cap is trading down by 0.7%.

The BSE Small Cap index is trading down by 0.5%.

On the sectoral front, stocks from the metal sector, are witnessing most of the selling pressure.

On the other hand, stocks from the IT sector are witnessing most of the buying interest.

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

Nasdaq Futures are trading down by 64 points (down 0.5%) while Dow Futures are trading down by 188 points (down 0.6%).

The rupee is trading at 73.43 against the US$.

Gold prices are trading up 0.3% at Rs 49,120 per 10 grams.

In global markets, gold prices continued their slide amid a stronger dollar, a rise in US bond yields, and firm equities. Spot gold fell 0.7%, after sinking 3.4% on January 8.

Tracking a decline in global prices, prices in India continued their downtrend today. On MCX, February gold futures fell 0.4% to  Rs 48,760 per 10 grams, extending losses to Rs 2,350 in just two days. In the previous session, gold had tumbled Rs 2,050 per 10 grams.

Moving on to stock-specific news...

Among the buzzing stocks, today is Avenue Supermarts.

Avenue Supermarts' quarterly revenue rose in line with estimates as customers shopped more during the festive months of October and November.

Revenue of the operator of the DMart chain of hypermarkets rose 11% year-on-year (YoY) to Rs 75.4 billion in the quarter ended December, according to an exchange filing.

The company's operating profit rose 15% YoY to Rs 6.9 billion whereas its operating margin stood at 9.1% compared with 8.8% a year ago. The company's net profit also rose 16%YoY to Rs 4.5 billion.

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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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