Indian share markets witnessed volatile trading activity throughout the day today and ended on a flat note.

Benchmark indices reversed losses during closing hours, supported by financials especially Bajaj twins and HDFC Bank.

At the closing bell, the BSE Sensex stood higher by 15 points.

Meanwhile, the NSE Nifty closed up by 14 points.

The SGX Nifty was trading at 11,230, up by 29 points, at the time of writing.

The BSE Mid Cap index ended up by 1.4%.

The BSE Small Cap index ended up by 0.8%.

On the sectoral front, gains were largely seen in the power sector and telecom sector.

Asian stock markets ended on a negative note. As of the most recent closing prices, the Hang Seng ended down by 1.6% and the Shanghai Composite stood lower by 1%. The Nikkei ended down by 0.4%.

The rupee was trading at 74.94 against the US$.

Moving on, Pidilite Industries was among the top gainers today. Shares of the company surged over 4% after its June quarter results beat street expectations.

Pidilite Industries reported a consolidated net profit of Rs 158.2 million for the quarter under review, as against a profit of Rs 2,943.9 million in Q1FY20.

In news from the commodity space, domestic gold and silver prices moved higher today continuing their recent momentum.

On MCX, October gold futures rose Rs 300 to a new high of 56,191 per 10 grams. Silver futures rallied Rs 1,750 or 2.3% to Rs 77,802 per kg.

In the previous session, gold had surged 1.3%, hitting an intraday high of Rs 56,079 per 10 grams, while silver had jumped 5.6% or Rs 4,100 per kg.

In global markets, gold continued its record-breaking streak as the prospect of more stimulus and simmering US-China tensions boosted the safe-haven appeal of gold.

At the time of writing, spot gold was up 0.3% at US$ 2,068.32 per ounce, after hitting a new high of US$ 2,072.50.

In other news, in a bid to increase liquidity in the hands of individuals, the RBI on Thursday said it will increase lending limits for gold for non-agricultural purposes.

So, you can now borrow against your household gold for a maximum 90% of its value, up from the earlier 75%.

The relaxation is only for banks and not for private financiers, including Muthoot Finance and Manappuram Finance, which are aggressive in gold loans.

Speaking of gold, note that international gold prices have rallied more than 35% this year as the coronavirus crisis, a weaker dollar, and geopolitical risks have sparked a flight to precious metals. Holdings in exchange-traded funds backed by the metal are at a record.

Gold rallied almost 10% last month. That's a sharp rise by any standard.

However, if you're thinking that gold won't rally anymore next month, then you must look at this chart.

This is the August month performance of international gold prices for the last 20 years. If history is anything to go by, then August is the month to hold gold rather than to exit.

International gold prices moved up in 15 out of the last 20 years. That's a success ratio of 75%. The average monthly gains of gold in August is 2.84% over the last 20 years.

So, history suggests gold is set for a rally this August.

Moving on to the stock-specific news, Mahindra & Mahindra (M&M) was among the top buzzing stocks today.

The company reported a 97% year-on-year (YoY) decline in consolidated net profit at Rs 677.9 million for the June quarter of FY21 (Q1FY21). This included a one-time gain of Rs 290 million.

The company had reported a profit of Rs 22,597.4 million in Q1FY20.

The company's revenue also fell 56% YoY to Rs 55.9 billion from Rs 128.1 billion reported in the year-ago quarter.

M&M sold 27,565 vehicles in Q1FY21, a 78% YoY drop from 1.23 lakh units sold in Q1FY20. Tractor sales also declined 22% YoY to 64,140 units while exports (vehicles and tractors) dropped 72% to 3,109 units from 10,923 in the year-ago quarter.

The company said, Indian auto industry (excluding two-wheelers) reported a de-growth of 81.5% over the previous year. After the first-ever zero sales in the month of April, the industry is finding its way back.

M&M's operating margin for the quarter stood at 10.3% as compared to 14% in Q1FY20.

The company approved the appointment of Nisaba Godrej and Muthiah Murugappan as additional directors on the board of directors. The company has also sought shareholders' approval to cut stake in Ssangyong Motor to less than 50%.

M&M share price ended the day down by 1.1%.