Sensex Trades 600 Points Higher; Dow Futures Up By 64 Points

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

The BSE Sensex is trading up by 600 points, up 1.2% at 50,398 levels.

Meanwhile, the NSE Nifty is trading up by 182 points.

IndusInd Bank and Power Grid Corporation are among the top gainers today. Maruti Suzuki and Shree Cement are among the top losers today.

The BSE Mid Cap index is trading up by 1.5%.

The BSE Small Cap index is trading up by 1.6%.

On the sectoral front, all sectors are trading in green with stocks from the healthcare sector and telecom sector, witnessing most of the buying interest.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up by 96 points (up 0.7%) while Dow Futures are trading up by 64 points (up 0.2%)

The rupee is trading at 72.94 against the US$.

Gold prices are trading up by 0.4% at Rs 47,955 per 10 grams.

Gold prices edged higher in Indian markets today after a big fall over the previous two sessions. On MCX, gold futures rose 0.2% to Rs 47,947 per 10 grams after slumping Rs 1,800 in the previous two sessions as the government cut import duty on the precious metal.

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.

Moving on to stock-specific news...

Among the buzzing stocks, today is Tata Consumer Products.

Tata Consumer Products (TCPL), earlier known as Tata Global Beverages, on February 3 reported a 25.3% year-on-year (YoY) rise in consolidated net profit to Rs 2.4 billion for the quarter ended December, helped by higher sales in branded business.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.