Sensex Trades Over 500 Points Higher, Dow Futures Up By 22 Points

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

The BSE Sensex is trading up by 569 points, up 1.2% at 49,770 levels.

Meanwhile, the NSE Nifty is trading up by 163 points.

Power Grid Corporation of India and JSW Steel are among the top gainers today. Adani Ports & SEZ and Tata Consumer Products are among the top losers today.

The BSE Mid Cap index is trading up by 0.6%.

The BSE Small Cap index is trading up by 1.1%.

On the sectoral front, all sectors are trading in green with stocks from the telecom 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 20 points (up 0.2%) while Dow Futures are trading up 22 points (up 0.1%)

The rupee is trading at Rs 74.16 against the US$.

Gold prices are trading up 0.6% at Rs 46,202 per 10 grams.

Gold prices edged lower in Indian markets, a day after clocking sharp gains. On MCX, gold futures were down 0.3% to Rs 45,767 per 10 grams. In the previous session, gold had jumped Rs 600 or 1.3% per 10 grams.

Note that gold prices in India have rebounded from one-year low levels of Rs 44,100 hit last week, helped by a rebound in global rates and coronavirus concerns.

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 Reliance.

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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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