Sensex Trades Over 200 Points Higher; Dow Futures Up By 165 Points

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

The BSE Sensex is trading up by 299 points, up 0.6% at 50,739 levels.

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

SBI Life and Grasim Industries are among the top gainers today. BPCL and GAIL are among the top losers today.

The BSE Mid Cap index is trading down by 0.2%.

The BSE Small Cap index is trading up by 0.2%.

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

On the other hand, stocks from the energy 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 96 points (up 0.8%) while Dow Futures are trading up by 165 points (up 0.5%)

The rupee is trading at 73.14 against the US$.

Gold prices are trading up by 0.4% at Rs 44,390 per 10 grams.

In global markets, gold prices edged higher but gains were capped amid a stronger US dollar and higher US Treasury yields. The US benchmark bond yields hovered around a 12-month high on concerns that the government's massive stimulus package will stoke inflation.

Gold prices in India edged higher today after a slump in the previous session. On MCX, gold futures were up 0.3% to Rs 44,360 per 10 grams, after falling to Rs 44,150 in the previous session.

Note that gold prices have fallen to near 11-month lows in India after being in a downtrend since hitting a record high of 56,200 in August. And from the start of this year, gold is down about Rs 5,500 per 10 grams.

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.

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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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