Sensex Trades Over 300 Points Higher, Dow Futures Up By 91 Points

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

The BSE Sensex is trading up by 341 points, up 0.7% at 52,647 levels.

Meanwhile, the NSE Nifty is trading up by 89 points.

Infosys and TCS are among the top gainers today. IOC and Reliance are among the top losers today.

The BSE Mid Cap index is trading down by 0.3%.

The BSE Small Cap index is trading down by 0.1%.

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

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

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

Nasdaq Futures are trading up by 35 points (up 0.3%) while Dow Futures are trading up by 91 points (up 0.3%).

The rupee is trading at 74.24 against the US$.

Gold prices are trading down by 0.4% at Rs 46,908 per 10 grams.

Gold prices in India remained weak near two-month lows in early trade today as futures on MCX fell 0.4% to Rs 46,881 per 10 grams.

In global markets, gold retreated below US$ 1,775, hurt by a stronger US dollar that made the precious metal more expensive for holders of other currencies.

Spot gold was down 0.2% at US$ 1,775 per ounce. Meanwhile, the dollar index held firm at a near 11-week high of 91.81 against its rivals.

Moving on to stock-specific news...

Among the buzzing stocks, today is Greaves Cotton.

Shares of Greaves Cotton continued their upward movement in early trade today after hitting an over four-year high on the bourses yesterday.

The share has been in focus after the Gujarat government announced its new electric vehicle (EV) policy.

The policy provides a purchase incentive of Rs 10,000/kWh for EVs with segment-wise limits set at Rs 20,000/kWh for two-wheelers, Rs 50,000/kWh for three-wheelers, and Rs 150,000/kWh for four-wheelers.

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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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