Sensex Trades Over 500 Points Higher; Dow Futures Up By 147 Points

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

The BSE Sensex is trading up by 586 points, up 1.2% at 50,882 levels.

Meanwhile, the NSE Nifty is trading up by 190 points.

Tata Steel and Adani Ports & SEZ are among the top gainers today. Hero MotoCorp and Maruti Suzuki are among the top losers today.

The BSE Mid Cap index trading up by 1.3%.

The BSE Small Cap index is trading up by 1.6%.

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

On the other hand, stocks from the automobile 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 98 points (up 0.8%) while Dow Futures are trading up by 147 points (up 0.5%)

The rupee is trading at 73.02 against the US$.

Gold prices are trading down 0.5% at Rs 45,340 per 10 grams.

Gold prices in India today struggled near 10-month lows amid weak global cues. On MCX, gold futures were down 0.1% to Rs 45,500 per 10 grams, their sixth day of decline in previous seven days.

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...

Among the buzzing stocks, today is Coal India.

As a result of state-run Coal India's (CIL) drive for import substitution, imports by domestic coal-based power plants declined by 55% till January 2021 to 9 million tonnes (MT) compared to 20 MT during the same period last financial year.

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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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