Indian Share Markets End At Record High; Financial And FMCG Stocks Top Gainers

Indian share markets extended gains as the session progressed and ended on a strong note.

The Sensex, which crossed the 45,000-mark last week for the first time, continued momentum and rose more than 340 points today supported by financials, pharma, and FMCG stocks.

At the closing bell, the BSE Sensex stood higher by 347 points (up 0.8%).

The NSE Nifty closed higher by 97 points (up 0.7%).

Adani Ports and UPL were among the top gainers today.

The SGX Nifty was trading at 13,421, up by 94 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended up by 1% and 1.3%, respectively.

On the sectoral front, gains were largely seen in the telecom sector, FMCG sector, and finance sector.

Asian stock markets ended on a negative note today. As of the most recent closing prices, the Hang Seng ended down by 1.2% and the Shanghai Composite ended down 0.8%. The Nikkei ended down by 0.7%.

The rupee is trading at 73.88 against the US$.

In news from the commodity space...

Gold prices for the latest contract on MCX are trading flat at Rs 49,152 per 10 grams.

Gold prices were mixed today in Indian markets as optimism around Covid-19 vaccines roll-outs offset hopes of a US stimulus package being passed this week.

In the previous session, gold futures had declined 0.2% to Rs 49,209 per 10 grams.

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.

The recent price volatility in the bullion market has rattled many traders. Even with the recent volatility in prices, gold remains one of the best-performing commodities this year to combat the fallout from the coronavirus pandemic.

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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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