Sensex Trades Over 500 Points Higher; Dow Futures Up By 159 Points

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

The BSE Sensex is trading up by 564 points, up 1.1% at 52,108 levels.

Meanwhile, the NSE Nifty is trading up by 133 points.

Bajaj Finance and Bajaj Finserv are among the top gainers today. Dr Reddy's Laboratories and Grasim Industries are among the top losers today.

The BSE Mid Cap index is trading up by 1.5%.

The BSE Small Cap index is trading up by 0.7%.

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

On the other hand, stocks from the IT 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 by 39 points (up 0.3%) while Dow Futures are trading up by 159 points (up 0.5%)

The rupee is trading at 72.59 against the US$.

Gold prices are trading down by 0.1% at Rs 47,282 per 10 grams.

Gold prices remained weak for the third day in Indian markets today in tandem with softer global rates. On MCX, gold futures were up 0.2% to Rs 47,398 per 10 grams. In the previous two sessions, gold had lost about Rs 800 per 10 grams.

In global markets, gold eased today after a jump in US Treasury yields, which nearly hit their 11-month high. Gold fell 0.2% to US$ 1,820 an ounce.

Note that higher bond yields increase the opportunity cost of holding non-yielding assets like gold.

Moving on to stock-specific news...

Among the buzzing stocks, today is Motherson Sumi.

Shares of Motherson Sumi Systems (MSSL) rallied today to hit its fresh 52-week high as investors cheered the auto ancillary company's stellar December quarter earnings.

The auto components major reported a nearly four-fold jump in consolidated net profit at Rs 12.7 billion for the quarter ended December. The company had posted a consolidated net profit of Rs 3.4 billion in the same period last fiscal.

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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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