Sensex Trades Marginally Higher; Dow Futures Up By 6 Points

Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 140 points, up 0.3% at 49,538 levels.

Meanwhile, the NSE Nifty is trading up by 80 points.

Tata Motors and Wipro are among the top gainers today. Grasim and NTPC are among the top losers today.

The BSE Mid Cap index is trading up by 0.8%.

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

On the sectoral front, stocks from the automobile sector, are witnessing most of the buying interest.

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

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

Nasdaq Futures are trading up by 75 points (up 0.6%) while Dow Futures are trading up by 6 points (flat)

The rupee is trading at 73.12 against the US$.

Gold prices are trading up by 0.5% at Rs 49,235 per 10 grams.

In global markets, gold prices moved higher following a weaker US dollar amid expectations of a massive US stimulus.

Tracking higher global prices, gold prices edged higher in Indian markets. On MCX, February gold futures rose 0.3% to Rs 49,115 per 10 grams. In the previous session, gold had risen 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 Ceat.

Tyre major, Ceat on January 19 reported over a two-and-a-half-fold jump in its consolidated net profit to Rs 1.3 billion in the third quarter ended on December 31, 2020, riding on robust sales. The company had posted a consolidated net profit of Rs 525 million in the year-ago period.

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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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