Sensex Trades Over 300 Points Higher; Dow Futures Up By 204 Points

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

The BSE Sensex is trading up by 378 points, up 0.7% at 49,478 levels.

Meanwhile, the NSE Nifty is trading up by 165 points.

ONGC and Mahindra & Mahindra are among the top gainers today. Bharti Airtel and SBI Life are among the top losers today.

The BSE Mid Cap is trading up by 0.8%.

The BSE Small Cap index is trading up by 1.2%.

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

On the other hand, stocks from the banking 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 152 points (up 1.2%) while Dow Futures are trading up by 204 points (up 0.6%)

The rupee is trading at 73.26 against the US$.

Gold prices are trading up 0.6% at Rs 46,010 per 10 grams.

Speaking of the precious metal, the twelfth tranche of Sovereign Gold Bond 2020-21 opens for subscriptions today and will continue till March 5, 2021.

Launched in 2015, Sovereign Gold Bonds are government securities denominated in grams of gold. It is often touted as a superior alternative to holding gold in physical form.

The gold bonds are issued by the Reserve Bank of India, on behalf of the government of India. The issue price has been fixed at Rs 4,662 per gram.

Moving on to stock-specific news...

Among the buzzing stocks, today is Reliance.

Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Reliance Industries (RIL), has acquired an additional equity stake in its investee company skyTran Inc, the company announced on February 28, 2021.

The additional equity stake was acquired by RSBVL for a consideration of US$ 26.8 million, increasing its shareholding to 54.5% on a fully diluted basis, said the statement.

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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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