Sensex Trades Over 300 Points Lower, Dow Futures Down By 67 Points

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

The BSE Sensex is trading down by 381 points, down 0.7%, at 52,179 levels.

Meanwhile, the NSE Nifty is trading down by 108 points

Divi's Lab and SBI Life are among the top gainers today. Dr Reddy's and Axis Bank are among the top losers today.

The BSE Mid Cap index is trading down by 0.4%.

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

On the sectoral front, barring stocks from the telecom sector and FMCG sector, all sectors are trading in the red.

Stocks from the banking 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 10 points (down 0.1%) while Dow Futures are trading down by 67 points (down 0.2%).

The rupee is trading at 74.37 against the US$.

Gold prices are trading up 0.1% at Rs 47,616 per 10 grams.

In global markets, gold prices were steady at around US$ 1,800 per ounce ahead of the outcome of the US Federal Reserve meeting.

Following a positive trend in international spot prices, gold prices were trading marginally higher in domestic markets today.

On MCX, gold futures were trading 0.2% higher at Rs 47,676 per 10 grams in early trade.

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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