Sensex Ends 139 Points Higher; ONGC And NTPC Among Top Nifty Gainers

Indian share markets ended their volatile day marginally higher today.

At the closing bell, the BSE Sensex stood higher by 139 points (up 0.3%).

The NSE Nifty ended up by 35 points (up 0.3%).

ONGC and NTPC were among the top gainers today.

Axis Bank, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,537, up by 12 points, at the time of writing.

The BSE Mid Cap index ended up by 0.2%. The BSE Small Cap index ended up by 0.5%.

Sectoral indices ended on a mixed note with stocks in the metal sector and oil & gas sector witnessing buying interest. Pharma and IT stocks, on the other hand, witnessed selling pressure.

Asian share markets ended on a mixed note with the Nikkei ending down by 0.4% and the Hang Seng ending up by 0.4%.

The rupee is trading at 73.68 against the US$.

In news from the commodity space, gold prices for the latest contract on MCX were trading flat at Rs 49,081 per 10 grams.

In global markets, gold prices edged higher today as muted US jobs data spurred concerns about swift economic recovery.

However, gold prices struggled to gain buying interest in Indian markets amid muted global trends.

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.

After hitting a record high in August, gold prices have come off by more than 12%. However, on a year-to-date basis, gold is up more than 25%.

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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