Sensex Trades Over 300 Points Higher; Dow Futures Up By 232 Points

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

The BSE Sensex is trading up by 389 points, up 0.9% at 44,539 levels.

Meanwhile, the NSE Nifty is trading up by 102 points.

GAIL and Sun Pharmaceuticals are among the top gainers today. Nestle India and Kotak Bank 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 0.9%

On the sectoral front, stocks from all sectors are trading in green with stocks from the real estate sector witnessing most of the buying interest.

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

Nasdaq Futures are trading up by 105 points (up 0.9%) while Dow Futures are trading up by 232 points (up 0.8%).

The rupee is trading at 73.46 against the US$.

Gold prices are trading down 0.2% at Rs 47,705 per 10 grams.

In global markets, gold prices edged higher today supported by a weak dollar. The dollar index was down 0.05%, making gold cheaper for holders of other currencies.

Tracking an upward trend in global rates, gold prices edged higher in Indian markets. On MCX, February gold futures rose 0.3% to Rs 48,070 per 10 grams. In the previous session, gold futures had slipped 0.4%.

Note that gold prices have been on a downward path since hitting record highs of Rs 56,200 in August. In November alone, gold prices fell about Rs 2,500 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.

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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