Sensex Trades Over 300 Points Higher, Dow Futures Up By 115 Points

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

The BSE Sensex is trading up by 389 points, up 0.8% at 51,027 levels.

Meanwhile, the NSE Nifty is trading up by 99 points.

Bajaj Finserv and Bajaj Finance are among the top gainers today. JSW Steel and Tata Steel are among the top losers today.

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

The BSE Small Cap index is trading up by 0.9%.

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

On the other hand, stocks from the metal 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 56 points (up 0.4%) while Dow Futures are trading up by 115 points (up 0.3%)

The rupee is trading at 72.77 against the US$.

Gold prices are trading up by 0.3% at Rs 40,029 per 10 grams.

Gold prices edged higher in Indian markets today, following the uptick in global rates. On MCX, gold futures were up 0.4% to Rs 49,049 per 10 grams. In the previous session, gold had risen 0.6%.

Moving on to stock-specific news...

Among the buzzing stocks, today is Godavari Power.

Godawari Power posted a multifold jump in consolidated net profit at Rs 3 bn for the quarter ended March, mainly on the back of higher revenues. The company's net profit in the year-ago period was Rs 342 m.

The company's total income rose to Rs 12.6 bn during the quarter from Rs 7.9 bn in the same period a year ago.

For the year FY21, the company's net profit also rose to Rs 6.2 bn from Rs 1.7 bn in the previous year. Total income in the last fiscal year was higher at Rs 40.8 bn from Rs 32.9 bn in FY20.

The company's board recommended a final dividend of Rs 13.5 per equity share of Rs 10 each for FY21 in addition to an interim dividend of Rs 5 per equity share of Rs 10 each.

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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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