Sensex Trades On A Volatile Note; Dow Futures Down By 253 Points

Share markets in India are presently trading on a volatile note.

The BSE Sensex is trading down by 16 points, down 0.03% at 46,858 levels.

Meanwhile, the NSE Nifty is trading flat.

IndusInd Bank and Indian Oil Corporation are among the top gainers today. Dr Reddy's and Tata Steel 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 0.2%.

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

On the other hand, stocks from the software 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 by 142 points (down 1.1%) while Dow Futures are trading down by 253 points (down 0.8%)

The rupee is trading at 72.98 against the US$.

Gold prices are trading up by 0.6% at Rs 48,911 per 10 grams.

Gold prices edged higher today after a five-day decline but the gains were muted. On MCX, gold futures rose 0.3% to Rs 48,749 per 10 grams following overnight gains in global markets. In the previous session, gold had declined 0.5%.

Note that in India, gold prices are down about 3% or Rs 1,500 so far this year, tracking a similar drop in global rates.

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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