Sensex Trades Marginally Higher; Dow Futures Up By 170 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 35 points, up 0.1% at 46,134 levels.

Meanwhile, the NSE Nifty is trading up by 3 points.

Cipla and Coal India are among the top gainers today. Hero MotoCorp and Mahindra & Mahindra are among the top losers today.

Both the BSE Mid Cap index and BSE Small Cap index are trading up by 0.5%.

On the sectoral front, stocks from the oil & gas sector and metal sector are witnessing most of the buying interest.

On the other hand, stocks from the automobile sector are witnessing most of the selling pressure.

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

Nasdaq Futures are trading up by 28 points (up 0.2%) while Dow Futures are trading up by 170 points (up 0.6%).

The rupee is trading at 73.54 against the US$.

Gold prices are trading down 0.7% at Rs 48,964 per 10 grams.

In global markets, gold prices eased today as risk sentiment improved as the US prepares to start its Covid-19 vaccination program from today.

Tracking weak global cues, gold prices fell in Indian markets. On MCX, February gold futures slid 0.4% to Rs 49,125 in their third decline in four days. In the previous session, gold had edged up 0.4%.

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...

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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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