Share markets in India are presently trading on a volatile note. Sectoral indices are trading mixed with stocks in the capital goods sector and realty sector witnessing selling pressure, while energy stocks and IT stocks are witnessing buying interest.

The BSE Sensex is trading down by 24 points (down 0.1%), while the NSE Nifty is trading down by 16 points (down 0.1%). The BSE Mid Cap index is trading down by 0.3%, while the BSE Small Cap index is trading down by 0.7%.

The rupee is currently trading at Rs 71.67 against the US$.

In news from the IT sector, Infosys share price is in focus today. The company has received a second whistleblower complaint accusing chief executive Salil Parekh of misdemeanors, days after a similar letter prompted the company's board to institute an independent probe.

In a letter to Infosys chairman and co-founder Nandan Nilekani, the whistleblower said, "though it is a year and eight months since Parekh joined the company, he operates from Mumbai in violation of the condition that the CEO has to be based in Bengaluru. What is stopping the board to insist on his movement to Bengaluru."

As an employee and a shareholder, the whistleblower said it was his duty to bring to the notice of the chairman and the board a few facts that were eroding the value systems of the company.

The whistleblower added that he was unable to disclose his identity fearing retaliation for the damning disclosures he was making against Parekh.

Note that when the first letter became public last month on 22 October, shares of Infosys plunged about 16%.

Reports state that the second letter may not be new, and it could be the one of the "undated letters" that Infosys had referred to earlier.

In a statement on 22 October, Nilekani had acknowledged that a board member had received two anonymous complaints on 30 September, one dated 20 September titled "Disturbing unethical practices", and the second undated "Whistleblower Complaint".

How this all pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Moving on to news from the commodity space, Gold futures rose in early trade today amid uncertainty on the much-awaited deal between the US and China.

After testing a low of US$ 1,450 on Tuesday, gold recovered from lower levels on uncertainty about a trade deal between the US and China.

President Donald Trump on Tuesday held out the prospect of completing an initial trade deal with China "soon," but offered no new details on negotiations in a campaign-style speech touting his administration's economic record.

Trump said US and Chinese negotiators were close to a phase one trade deal, but largely repeated well-worn rhetoric about China's cheating on trade. He added he would raise tariffs on Chinese goods "very substantially" if China does not make a deal with the United States.

US President Donald Trump's soft language on trade deal supported gold prices at lower levels. On the domestic front, prices gained amid weakness in the rupee.

Speaking of gold, co-head of research, Tanushree Banerjee shares some interesting information on the Sensex to Gold (per 10 grams) ratio going back 15 years.

Have a look at the chart below...

Sensex versus Gold in Fairly Valued Zone

Thus, even though the market correction seems overdone in mid and smallcaps, the bluechips, particularly those in the Sensex, aren't undervalued yet.