Sensex Trades Over 300 Points Higher, Dow Futures Up By 58 Points

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

The BSE Sensex is trading up by 308 points, up 0.6% at 49,969 levels.

Meanwhile, the NSE Nifty is trading up by 122 points.

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

The BSE Mid Cap index is trading up by 1%.

The BSE Small Cap index is trading up by 1.1%.

On the sectoral front, barring the power sector, all sectors are trading in green with stocks from the metal sector, witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street indices.

Nasdaq Futures are trading up 110 points (up 0.8%) while Dow Futures are trading up 58 points (up 0.2%)

The rupee is trading at Rs 74.35 against the US$.

Gold prices are trading up 0.1% at Rs 46,405 per 10 grams.

Gold and silver prices edged lower in Indian markets in early trade, after a sharp up-move in the previous session. On MCX, gold-edged 0.1% lower to Rs 46,320 after hitting a one-month high of Rs 46,400 in the previous session. Silver futures dropped 0.3% to Rs 66,405 per kg.

Moving on to stock-specific news...

Among the buzzing stocks, today is Ashok Leyland.

Ashok Leyland through its subsidiary Switch Mobility, the U.K.-based producer of electric buses and electric vans announced its global expansion plans into India and its plan to create two subsidiary companies.

The first, Switch Mobility Automotive, will be formed to carry on the electric vehicle (EV) strategy in India, while the second, OHM Global Mobility Private, will focus on providing mobility as a service offering.

Switch Mobility Automotive brings together Ashok Leyland's capabilities both from Optare UK and Ashok Leyland's EV Division. OHM Global Mobility Private is a solutions company being piloted in India with plans to roll out mobility as a service (eMaaS) globally.

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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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