Sensex Trades Over 300 Points Lower; Dow Futures Down By 101 Points

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

The BSE Sensex is trading up by 357 points, up 0.7% at 49,267 levels.

Meanwhile, the NSE Nifty is trading down by 86 points.

Bajaj Auto and Hero MotoCorp are among the top gainers today. Axis Bank and Hindalco 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 0.4%.

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

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

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

Nasdaq Futures are trading down by 39 points (down 0.3%) while Dow Futures are trading down by 101 points (down 0.3%)

The rupee is trading at 73.04 against the US$.

Gold prices are trading down by 0.3% at Rs 49,311 per 10 grams.

Gold prices slid today in Indian markets amid weak global cues. On MCX, gold futures dipped 0.1% to Rs 49,394 per 10 grams. In the previous session, gold had dipped 0.2%.

Note that gold prices have seen wild swings this year amid higher US bond yields, strengthening dollar and US stimulus announcement.

Moving on to stock-specific news...

Among the buzzing stocks, today is Bajaj Auto.

Bajaj Auto on January 21 reported its highest-ever profit and turnover during the December quarter (Q3FY21). The company's standalone net profit went up by 23% year-on-year (YoY) to Rs 15.5 billion, while revenues rose 17% to Rs 87.3 billion.

The company said it has posted its highest-ever turnover during the December quarter and for the first time exceeded the Rs 90 billion mark to reach Rs 92.7 billion, a rise of 16%. Revenue from consolidated operations of the company was up 17% at Rs 89.1 billion while consolidated profit after tax stood at Rs 17.1 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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