Sensex Trades Over 800 Points Lower; Dow Futures Up By 57 Points

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

The BSE Sensex is trading down by 822 points, down 1.6% at 49,970 levels.

Meanwhile, the NSE Nifty is trading down by 225 points.

Tech Mahindra and HCL Technologies are among the top gainers today. Axis Bank and Bajaj Finserv are among the top losers today.

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

The BSE Small Cap index is trading down by 0.8%.

On the sectoral front, stocks from the banking 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 mixed today.

Nasdaq Futures are trading down by 7 points (down 0.1%) while Dow Futures are trading up by 57 points (up 0.2%)

The rupee is trading at 72.67 against the US$.

Gold prices are trading up by 0.2% at Rs 44,843 per 10 grams.

In global markets, gold prices were marginally higher as the passage of a US stimulus bill raised concerns over inflation risks. However, higher US bond yields, which hovered near their highest in more than a year, capped the precious metal's gains.

Note that gold is typically considered a hedge against inflation, but higher bond yields increase the opportunity cost of holding non-yielding bullion.

Tracking a similar global trend, gold prices today edged higher in Indian markets, On MCX, gold futures were up 0.4% to Rs 44,915 per 10 grams. In the previous session, gold had hit a near one-year low when it touched Rs 44,271 per 10 grams at session's low.

Moving on to stock specific news...

Among the buzzing stocks today is Tech Mahindra.

IT services firm Tech Mahindra said today that it has acquired a 70% stake in Perigord Asset Holdings, a digital workflow and artwork, labelling and BPO services firm.

This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors. It will also strengthen the company's presence in the artwork and packaging services space with an integrated platform and services portfolio.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.