Sensex Trades Over 400 Points Lower, Dow Futures Down By 85 Points

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

The BSE Sensex is trading down by 456 points, down 0.9% at 49,401 levels.

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

Adani Ports & SEZ and Sun Pharmaceuticals are among the top gainers today. IndusInd Bank and Power Grid Corporation are among the top losers today.

Both the BSE Mid Cap and BSE Small Cap are trading up by 0.5%.

On the sectoral front, stocks from the real estate 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 mixed today.

Nasdaq Futures are trading up 75 points (up 0.6%) while Dow Futures are trading down 85 points (down 0.3%)

The rupee is trading at 72.38 against the US$.

Gold prices are trading down by 0.6% at Rs 44,768 per 10 grams.

In global markets, gold today edged lower amid a strong dollar and hardening US bond yields. Spot gold fell 0.3% while other precious metals like silver, platinum, and palladium all retreated.

Amid weak global cues, gold prices today slipped below the key Rs 45,000 level in Indian markets while silver rates tumbled. On MCX, gold futures dipped 0.1% to Rs 44981 per 10 grams while silver futures slumped 1.4% to Rs 66,562 per kg.

Moving on to stock-specific news...

Among the buzzing stocks, today is Adani Green Energy.

Shares of Adani Green Energy hit an upper circuit after its subsidiary received a letter of award for 300-megawatt (MW) wind power projects. Adani Renewable Energy Holding Fifteen had participated in a tender issued by Solar Energy Corporation of India for setting up 1,200 MW interstate transmission system-connected wind power projects, according to an exchange filing.

The fixed tariff for this project capacity is Rs 2.7 per kilowatt-hour (kWh) for a period of 25 years.

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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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