Sensex Tanks Over 300 Points, Dow Futures Trade Flat

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

The BSE Sensex is trading down by 344 points, down 0.7% at 51,591 levels.

Meanwhile, the NSE Nifty is trading down by 74 points.

Adani Ports & SEZ and SBI Life are among the top gainers today. ITC and Tech Mahindra are among the top losers today.

The BSE Mid Cap index is trading up by 1.1%.

The BSE Small Cap index is trading up by 1%.

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

On the other hand, stocks from the software 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 7 points (down 0.1%) while Dow Futures are trading flat.

The rupee is trading at 73.17 against the US$.

Gold prices are trading up by 0.3% at Rs 49,140 per 10 grams.

Gold prices in India edged lower today, tracking a downtick in global rates. On MCX, gold futures slipped 0.2% to Rs 49,363 per 10 grams. In the previous session, gold had risen to over a four-month high of Rs 49,700 per 10 grams.

Note that in India, gold rates have jumped about Rs 5,000 in the past two months amid a global rebound. Still, the precious metal is down about Rs 7,000 from its last year's record high of Rs 56,200.

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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