The demand for gold bonds seems to be stemming as gold prices have shot up recently, say experts
Both benchmarks, Nifty and Sensex, rebounded 7% in May after dipping around half a percent in April
This is in sharp contrast to the global gold ETFs which saw inflows of $3.4 billion in May, reversing three straight months of net outflows
All the sectoral indices ended in the red on Wednesday, with Nifty PSU Bank, Nifty Auto, Nifty Metal and Nifty Media falling the most
The spike in gold demand marks a significant change in trend with gold ETFs previously seeing net redemptions in five of the past six months
Shares of Gautam Adani-led power producer - Adani Power - have rallied a whopping 57% in the last four trading sessions
Ambareesh Baliga stock picks: He believes value can be unlocked in stocks like Rites, Railtel and IRFC
The Sensex closed at 52,328, up 228 points, or 0.44%, while the Nifty rose 81 points, or 0.52% and settled at 15,751 for the first time
Consumer confidence has been in negative territory since July 2019 and has now dropped to 48.5 in May, the index's all-time low
Outstanding loans against gold jewellery given by banks rose 82% to Rs 60,464 crore as of March 2021, from Rs 33,303 crore as of March 2020