Sensex Trades Marginally Higher, Dow Futures Down By 74 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 18 points, up 0.04% at 49,789 levels.

Meanwhile, the NSE Nifty is trading up by 7 points.

Adani Ports & SEZ and Shree Cement are among the top gainers today. Hindalco and ITC are among the top losers today.

The BSE Mid Cap index is trading up by 0.7%.

The BSE Small Cap index is trading up by 0.5%.

On the sectoral front, stocks from the power 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 51 points (down 0.4%) while Dow Futures are trading down 74 points (down 0.2%)

The rupee is trading at 72.29 against the US$.

Gold prices are trading down by 0.2% at Rs 44,800 per 10 grams.

Gold prices in India fell for the second day in a row amid weak global cues. On MCX, gold futures fell 0.2% to Rs 44,795 per 10 grams while silver declined 0.5% to Rs 66,013 per kg. In the previous session, gold had inched 0.2% lower while silver fell 1.6%.

Note that gold has remained in a very narrow range from Rs 44,500 to Rs 45,300 over the past two weeks in Indian markets amid mixed cues. The precious metal had hit a record high of Rs 56,200 in August last year.

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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