Sensex Trades Over 500 Points Lower, Dow Futures Down By 24 Points

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

The BSE Sensex is trading down by 586 points, down 1.2% at 49,466 levels.

Meanwhile, the NSE Nifty is trading down by 168 points.

Asian Paints and Cipla are among the top gainers today. Hindalco and Tata Steel are among the top losers today.

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

The BSE Small Cap index is trading down by 0.5%.

On the sectoral front, stocks from the banking sector, are witnessing most of the selling pressure.

On the other hand, stocks from the healthcare sector and power sector, are witnessing most of the buying interest.

US stock futures are trading mixed today.

Nasdaq Futures are trading up 33 points (up 0.3%) while Dow Futures are trading down 24 points (down 0.1%)

The rupee is trading at 72.56 against the US$.

Gold prices are trading up by 0.3% at Rs 44,792 per 10 grams.

In global markets, gold prices were higher today despite a stronger US dollar. Spot gold was up 0.3% as the precious metal was able to attract buy-on-dips demand amid a fall in US bond yields and surge in coronavirus cases in some parts of the world.

Gold prices in India rose today after a two-day fall while silver edged higher, tracking positive global cues. On MCX, gold futures today rose 0.4% to Rs 44,835 per 10 grams while silver gained 0.3% to Rs 65,190 per kg.

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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