Inflows into gold exchange-traded funds (ETFs), which manage a total of Rs 37,390 crore, have surged sharply in recent months. This trend is likely to continue, especially after the reintroduction of long-term capital gains tax (LTCG), which is likely to attract smart money into mutual fund offerings amid a robust outlook for the yellow metal. Smart money, also known as opportunistic flows, refers to strategic investments that are generally of a short-term horizon.
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
India's good old 'mandis' are all set to make way for swanky spot exchanges soon. In two months' time, winds of change will sweep across the country's agricultural sector with the launch of electronic spot exchanges.
No reason was cited for rescheduling of the meeting.
The board will have to take a decision that he cannot remain a permanent director and also have to decide to whether to amend the article of association of the exchange in this regard.
A parallel system of futures trading in commodities, operating outside recognised commodity exchanges, better known by its colloquial epithet Dabba, has been thriving unchecked and is believed to be now generating bigger trading volumes than the regular exchanges.
A derivative is a product whose value is derived from the value of one or more underlying variables or assets in a contractual manner. The underlying asset can be equity, forex, commodity or any other asset.
Reliance Money, India's comprehensive financial services and solutions provider, has tied up with Chicago-based Alaron Trading Corporation, a global, full-service commodity futures brokerage firm.
Commodity exchanges -- MCX, NCDEX and NMCE will open for 'muhurat trading session' for at least 2 hours on Tuesday evening for all commodities on account of Diwali.MCX and NCDEX have fixed muhurat trading from 1815 to 1945 hrs, while NMCE from 1815 to 2040 hrs, the exchanges said.
Benchmark Sensex closed above the 85,000 level for the first time while Nifty scaled the 26,000 peak at close on Wednesday as fag-end buying in banking and power shares helped stock markets recoup early losses. After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30 per cent to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39 per cent to hit a record intra-day peak of 85,247.42.
The proposed commodity transaction tax of Rs 17 per lakh was part of the Union Budget 2008-09 that was approved by the Parliament in the last session and is yet to be notified. Asked about timeframe of notification, Pawar said, 'first you allow us to discuss and take a final view.'
At a media briefing in Hyderabad, Khatua said the bullion accounted for 42 per cent of commodity trade, and agriculture 23 per cent. He expressed hope that the government would lift the ban on eight commodities -- rubber, chana, soyoil, potato, rice, wheat, tur and urad -- shortly as prices had declined in the recent months. Wheat, for instance, is selling lower than the minimum support price.
Soon, you will see the birth of the hottest commodity futures in the world -- diamond derivatives.
India's largest agri commodity exchange -- the National Commodities and Derivatives Exchange says is chalking out several projects to connect farmers with online futures trading in commodities.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
If implemented, it will be the first commodity exchange to offer such a facility.
The FMC had warned MCX that it would not renew contracts, allow new contracts and eventually take away the licence to run the bourse if the commodity exchange does not comply with regulatory norms.
The Bombay Stock Exchange and Foreign Exchange market will remain closed today due to a terrorist attack in Mumbai.
The buyer received poor investor response to the pricing of the share sale.
Some state-run banks made 10,000-13,000 per cent gains on their holdings in the Multi Commodity Exchange (MCX) after the latter commodity bourse made an impressive listing on Friday.
From the Sensex basket, JSW Steel, Tata Steel, Power Grid, Kotak Mahindra Bank, UltraTech Cement, NTPC and Bajaj Finance were the major gainers. Tata Consultancy Services, Tech Mahindra, Maruti, Reliance Industries and Titan were among the laggards.
Besides introducing a penalty for illegal trading, the Forward Markets Commission has announced a uniform penalty structure for all the commodity exchanges, while raising the penalty amount for various other offences.
The Centre is planning to establish a Taxation Information Exchange System to track inter-state trade of all commodities after the phase-out of Central Sales Tax.
India's leading commodity bourse - the Multi-Commodity Exchange Commodity of India - has led the commodity futures boom in India in the last year with a market share of 72.4 per cent.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
In an effort to boost commodity trading in the country, the much-awaited amendments to the Forward Contract and Regulations Act of 1952 will happen during the Budget session of the Parliament.
Asia's oldest bourse, Bombay Stock Exchange on Wednesday launched currency derivatives segment (BSE-CDX) that would enable participants to hedge their currency risks through trading in the US dollar-rupee future platform.
The FMC on Thursday barred the National Spot Exchange and group firms from auctions of commodities held by the bourse after a complaint that firms related to the former managing director took part in the bidding process.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards. NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.
The Forward Markets Commission will convene a meeting of 21 regional exchanges in the country to prepare a plan of action for their revitalisation, commission's chairman B C Khatua said.
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
Capital markets regulator Sebi has extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2023 in a bid to rein in prices. The other agricultural commodities suspended by Sebi are -- paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives. "The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2022, i.e. till December 20, 2023," Sebi said in a statement on Wednesday.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
The regulator's comments has come at a time when national level exchanges NCDEX and NMCE are mulling to cut transaction fees, after leading bourse MCX decided to slash the charges from November 2.
Regulator has asked National Multi-Commodity Exchange to file criminal case against Kailash Gupta.
