Indian Indices End Flat; Bajaj Finance And Bajaj Finserv Among Top Nifty Gainers

Indian share markets ended their volatile day on a flat note today.

At the closing bell, the BSE Sensex stood higher by 9 points (up 0.02%).

The NSE Nifty ended up by 9 points (up 0.07%).

Bajaj Finance and Bajaj Finserv were among the top gainers today.

Hindustan Unilever, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,579, down by 12 points, at the time of writing.

The BSE Mid Cap index ended up by 0.4%. The BSE Small Cap index ended up by 0.1%.

Except for auto and metal sector, sectoral indices ended in the red with the oil & gas and FMCG sectors falling more than 1% percent each.

Asian share markets ended on a negative note with the Nikkei ending down by 0.2% and the Hang Seng ending down by 0.7%.

The rupee is trading at 73.59 against the US$.

In news from the commodity space, gold prices for the latest contract on MCX were trading up by 0.8% at Rs 49,344 per 10 grams.

In global markets, gold prices edged higher today as investors assessed the likelihood for further virus-related economic restrictions amid surging Covid-19 cases in many countries.

Tracking positive global cues, gold prices edged higher in Indian markets as new coronavirus-related restrictions in some countries lifted the safe-haven appeal of the precious metals.

Note that gold exchange-traded funds (ETFs) offered by domestic mutual funds saw net redemptions of Rs 1.4 billion in November - their first outflow since March.

Between April and October, these funds had seen inflows of nearly Rs 50 billion.

Reports state that the correction in gold prices has discouraged some investors from investing in gold.

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 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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