Sensex Jumps 500 Points; Dow Futures Down By 31 Points

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

The BSE Sensex is trading up by 598 points, up 1.2% at 49,331 levels.

Meanwhile, the NSE Nifty is trading up by 164 points.

SBI and IndusInd Bank are among the top gainers today. Cipla and L&T are among the top losers today.

The BSE Mid Cap index is trading up by 1.2%.

The BSE Small Cap index is trading up by 1.3%.

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

On the other hand, stocks from the metal sector, are witnessing most of the selling pressure.

US stock futures are trading lower today, indicating a negative opening for Wall Street.

Nasdaq Futures are trading down by 19 points (down 0.2%) while Dow Futures are trading down by 31 points (down 0.1%)

The rupee is trading at 73.17 against the US$.

Gold prices are trading up by 0.7% at Rs 48,021 per 10 grams.

In international markets, gold prices rose to their highest level in more than three months, as a dip in US Treasury yields and worries over surging COVID-19 cases in some Asian countries boosted demand for the safe-haven metal.

Spot gold was up 0.6% while US gold futures jumped 0.7%.

In domestic markets, gold prices extended gains for the second consecutive session today tracking the global sentiment. June gold futures were up by Rs 301 or 0.6% at Rs 47,977 per 10 grams on the MCX.

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 among 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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