Sensex Trades Marginally Higher; Dow Futures Up By 20 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up 107 points, up 0.2% at 47,976 levels.

Meanwhile, the NSE Nifty is trading up by 37 points.

Hindalco and Tata Steel are among the top gainers today. Hero MotoCorp and Kotak Bank 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 0.8%.

In global markets, gold prices rose to near two-month highs, supported by a weak dollar and concerns about a surge in new coronavirus cases around the world.

Tracking similar global trends, gold prices surged today in Indian markets. On MCX, February gold futures jumped Rs 600 to Rs 50,826 per 10 grams.

Note that gold prices have been trading in a very narrow range over the past two weeks. Concerns over a surge in coronavirus cases in some parts of the world were offset by a rollout of coronavirus vaccines. In the previous session, gold had risen by 0.2%.

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 Coal India.

Despite its cash-flow issues, Coal India has spent over Rs 80 billion as capital expenditure (CapEx) till December 2020, and is looking to meet a revised target of Rs 130 billion of such expense by the end of FY'21, an official said on Sunday.

The capital expenditure target for the financial year F21 was initially set at Rs 100 billion.

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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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