Bajaj Auto - the country's most valuable two-wheeler (2W) company by market capitalisation - met Street expectations in the January-March quarter (Q4) of 2024-25 (FY25) but still ended Friday as the worst performer on the Nifty 50, slipping 3.1 per cent.
The Reserve Bank of India is likely to issue the guidelines for allowing foreign investors to pick up stake in the country's commodity exchanges within a fortnight, a top government official said on Thursday.
The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
The Multi Commodity Exchange of India has decided to start a one-year full-time certificate course on commodities in March this year in Mumbai.
The turnover of commodity exchanges in 2006-07 financial year is likely to touch a whopping Rs 37 lakh crore (Rs 37 trillion), according to the data from Forward Markets Commission.
The turnovers of gold, silver and agri commodities like guar seed and chana are much more than that of blue chips traded on the Bombay Stock Exchange.
In a memorandum to the Finance Minister, the exchanges said that FM's proposal to impose the Commodities Transaction Tax (CTT) will ruin the budding commodity futures business in India. In its arguments, it said CDM is at a nascent stage. It is only 4 years old. Participation of banks, mutual funds, FIs, FIIs is still not allowed. Options contracts, index futures & futures based on intangibles are still to come. Cost increase in India will induce hedgers to global exchanges.
Gold prices advanced Rs 700 to reach a new lifetime high of Rs 91,950 per 10 grams in the national capital on Wednesday on the back of continued buying by jewellers ahead of wedding season, according to the All India Sarafa Association. Besides, increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.
"It is shocking to note that Turkey, the second-largest arms supplier to Pakistan after China, has played a key role in modernising Pakistan's navy and enhancing its aerial warfare capabilities. "This defence collaboration is not just commercial; it is ideological, targeting the stability of South Asia and emboldening Pakistan's military adventurism," SJM national co-convenor Ashwini Mahajan said in a statement.
Leading stock exchange NSE on Tuesday reported a 94 per cent year-on-year surge in consolidated profit after tax to Rs 3,834 crore for three months ended December 2024. It posted a Profit After Tax (PAT) of Rs 1,975 crore in the year-ago period.
The government on Monday abolished the Commodity Transaction Tax (CTT) that was announced in the Budget last year, but was yet to be implemented and the commodity exchanges rejoiced the decision.
A dedicated physical gold exchange could lead to standard gold pricing in India.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
MCX launched contracts in gold, heating oil, gasoline, natural gas, sliver HNI and aviation turbine fuel (ATF). The futures contracts will expire between February and May and the trading specifications will remain unchanged, the exchanges said.
The commodity futures market has started losing its sheen after a stupendous growth rate of 96.05 per cent in the last financial year
The Multi-Commodity Exchange on Wednesday initiated changes in the composition and weightage of India's first real-time composite commodity futures index - MCX-Comdex.
The company, which has applied for a license, is likely to get an ad hoc license in another 10 to 15 days.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
It has been three years since it has been opened to retail investors, but few have taken to it. A primer for those prepared to dive in to find the pearls.
The rupee declined 22 paise to 87.41 against the US dollar in early trade on Thursday after the latest tariff announcements from the US weighed on emerging currencies, including the rupee. Forex traders said the latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar.
'Investors' decisions should reflect their financial goals, risk tolerance, and the amount of gold already present in their portfolio.'
According to the US-based Financial Markets International, India's ban on foreign funds into commodity futures market is these days benefiting the Chinese commodity markets. It pointed out that the cumulative effect of foreign investment is undeniably positive. "Limiting foreign investment in India's commodity futures exchanges would deny a key impetus to a rapidly growing sector of the Indian economy," the report said.
Declining volumes in agriculture commodities are prompting the commodity bourses to aggressively focus on futures trading in bullion, metals and energy products.
The report from the United Nations Conference on Trade and Development said that commodity exchanges in India and China are becoming major players in global markets.
Spot exchanges to trade in commodities are set to be launched across the country in a few months' time. The man in the limelight most of the time these days is Anjani Sinha, managing director and chief executive officer of National Spot Exchange.
Hyundai Motor India and Honda Cars India on Wednesday joined the list of automakers planning to hike prices of vehicles from April, second time this year, to partially offset the impact of rising input costs and higher operational expenses. In a statement Hyundai Motor India Ltd (HMIL) said it will hike prices of its vehicles by up to 3 per cent effective in April 2025.
India's Parliamentary Standing Committee on Food and Consumer Affairs has called for a complete ban on futures trading in essential commodities like wheat, rice and sugar.
From the Sensex pack, Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, Hindustan Unilever, Sun Pharmaceuticals, Adani Ports & SEZ, Axis Bank, Tata Consultancy Services, Titan and Bajaj Finance were the major gainers. Tech Mahindra, Kotak Mahindra Bank, Zomato, Tata Motors, and IndusInd Bank were the laggards.
The Forward Market Commission's steely resolve to curb speculation in various agri items like guar futures and the MCX becoming the country's first commodity exchange to be listed were some of the positives during the year.
Before entering into buy and sell transactions please be aware of all the factors that go into the mechanism of pricing, trading and clearing.
The exchange, say sources, began mock trading from early October and around 250 Indian brokers have said they'd take membership of the international exchange.
From the Sensex pack, UltraTech Cement, Mahindra & Mahindra, Sun Pharmaceutical, Zomato, Tech Mahindra, Tata Steel, Tata Motors, Titan, ITC and Bajaj Finance were the major gainers. In contrast, Kotak Mahindra Bank, HCL Technologies, PowerGrid, Reliance Industries, State Bank of India, Hindustan Unilever, IndusInd Bank, Nestle India and Axis Bank were among the laggards.
All Sensex shares, except for Hindustan Unilever, ended with losses. Tata Steel fell the most by 7.33 per cent followed by Larsen & Toubro which cracked 5.78 per cent. Tata Motors, Kotak Mahindra Bank, Mahindra & Mahindra, Infosys, Axis Bank, ICICI Bank, HCL Technologies and HDFC Bank were the other big laggards. Hindustan Unilever ended marginally higher.
Move follows 26 per cent acquisition in Ahmedabad's NMCE.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
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