Sensex Trades Over 200 Points Lower, Dow Futures Down By 59 Points

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

The BSE Sensex is trading down by 240 points, down 0.5% at 49,262 levels.

Meanwhile, the NSE Nifty is trading down by 52 points.

Coal India and Indian Oil Corporation are among the top gainers today. HDFC 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 1.1%.

On the sectoral front, stocks from the oil & gas 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 90 points (down 0.7%) while Dow Futures are trading down by 59 points (down 0.2%)

The rupee is trading at 73.43 against the US$.

Gold prices are trading down by 0.2% at Rs 47,855 per 10 grams.

Gold prices were trading flat in domestic markets in early trade today following a muted trend in international spot prices amid a rise in the dollar index. On the Multi-Commodity Exchange (MCX), June gold contracts were trading flat at Rs 47,946 for 10 grams.

Note that a rise in the dollar index makes gold more expensive for other currency holders. The US currency slipped to a more than two-month low in the previous session after US non-farm payroll data on 7 May showed that jobs growth unexpectedly slowed in April.

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.

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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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