Share markets in India are presently trading on a negative note. Benchmark indices plunged in the opening trade today, tracking a sell-off in global peers as the number of coronavirus cases increased around the globe.

However, losses were erased as the session progressed, after the government said there were no plans to extend the country-wide lockdown.

The Press Information Bureau (PIB) of the Ministry of Information and Broadcasting tweeted, saying Cabinet Secretary Rajiv Gauba has denied media reports claiming that the government will extend the lockdown.

The BSE Sensex is trading down by 873 points (down 2.9%), while the NSE Nifty is trading down by 241 points (down 2.7%).

The BSE Mid Cap index and the BSE Small Cap index are trading down by 2% and 1.3%, respectively.

Sectoral indices are trading on a mixed note with stocks in the realty sector and automobile sector witnessing selling pressure, while FMCG stocks are witnessing buying interest.

Shares of Bajaj Finance and HDFC tumbled 9%, while Tata Steel share price plunged 6%.

The rupee is trading at Rs 75.37 against the US$.

Note that Indian stock markets have fallen around 36% in just over a month. However, Vijay Bhambwani's subscribers have been saved from a lot of pain in this market.

He's had 16 out of 22 profitable trades in these difficult times and his last 11 trades, over the last six months, have been profitable. He has delivered a return on investment of 42.95% for his subscribers at a time like this when everyone is barely managing to stay afloat due to daily losses.

In news from the pharma sector, shares of Abbott India surged 19% to hit a new high of Rs 16,869 in early trade today, amid reports that Abbott Laboratories, USA, the ultimate holding company, has received the approval to launch 5-minute coronavirus test for use almost anywhere.

Abbott India is a subsidiary of Abbott Laboratories of USA.

As per a leading financial daily, Abbott Laboratories is unveiling a COVID-19 test that can tell if someone is infected in as little as five minutes, and is so small and portable it can be used in almost any health-care setting.

Meanwhile, Strides Pharma Science has received the Establishment Inspection Report (EIR) for the inspection conducted by the USFDA in January 2020 at its flagship facility KRS Gardens, Bangalore.

The inspection was related to specific Extended-Release applications made from the site. Receipt of EIR confirms the successful closure of the inspections.

The flagship facility in Bangalore is the largest manufacturing facility for the company with capabilities to produce finished dosage formulation products across multiple dosage formats including tablet, capsules, ointments, creams and liquids.

Abbott India share price and Strides Pharma Science share price are presently trading up by 8% and 2.7%, respectively.

Moving on to news from the commodity space, gold prices are currently trading down by 0.5% at Rs 43,329.

Prices fell sharply today with June futures on Multi Commodity Exchange (MCX) falling 0.6% to Rs 43,302 per 10 gram, extending losses to the second session.

Following suit, silver prices took a beating with May futures crashing 3% to Rs 39,758 per kg.

Gold rates in India had surged sharply last week rising about Rs 3,000 per 10 gram following a rally in global rates.

In global markets, gold prices moved higher today, lifted by demand for safe-haven bullion as increasing coronavirus cases across the world stoked fears of more economic damage.

A weak dollar also helped lift gold demand, making bullion cheaper for investors holding other currencies.

Last week, discounts rose to their highest since mid-September, at US$ 48 an ounce.

Speaking of gold, 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...

Gold Has Been a Shining Long-Term Investment

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.