In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
Exchanges had sought clarifications from the commodity markets regulator on this.
From the Sensex basket, Mahindra & Mahindra, Tata Motors, NTPC, HCL Technologies, Larsen & Toubro, Infosys, Tech Mahindra and State Bank of India were the major laggards. Bharti Airtel, Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and IndusInd Bank were among the gainers.
In what may be seen as worst fears of National Security Advisor M K Narayanan coming true, a US report on terrorism has said pro-Pakistan Jaish-e-Mohammed was investing in commodity market and real estate to raise funds for its terrorist activities.
Dwaipayan Bose examines the seven important factors that investors about exchange traded funds must know before they start investing/trading in them.
Indiabulls has offered to sell 26 per cent of its stake in the year-old Indian Commodity Exchange to an ADAG group company.
Commodity market regulator Forward Markets Commission has banned futures trading in electricity owing to poor volumes of trade.
Anamika Pareek answers five most frequently asked questions about investing in silver ETFs
Economists V Shunmugam and D G Prasad working with India's largest commodity bourse -- the Multi Commodity Exchange -- have come out with a research paper arguing that the government urgently needs to shift the method of calculating inflation.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
With the introduction of CTT, commodity players raise their doubts about the fledgling futures market.
A Cabinet panel has allowed futures trading in 54 commodities including rice, wheat, pulses, oils, oilseeds, spices and metals, a government spokesman said on Thursday.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Bank shares were the top losers after sharp gains last week.
With the start of rabi crop arrivals, the prices of agri commodities have declined in the past two months, raising hope that food prices will moderate in the weeks ahead.
Ginger is the hot and happening commodity now. In fact, the National Multi-Commodity Exchange is mulling expansion of its futures basket and launch of trade in dried ginger and cashew.
With the government extending its ban on forward trading in more agricultural commodities, a section of jewellery traders has sought a similar curb on gold and silver futures as well to curtail the volatility in rates. The government suspended futures trading in soya oil, potato, rubber, chana (gram) on Wednesday, while rice, wheat, urad and tur were banned early last year. Sudden rise and fall in prices of gold and silver, many times in a day, has created instability.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
The move is expected to cut into the business of rival Bombay Stock Exchange (BSE).
The National Stock Exchange is chalking out a strategy to launch a separate trading platform for small and medium companies.
After a gap of more than 13 years, the National Commodity and Derivatives Exchange (NCDEX) is all set to launch a futures contract in groundnut (in shell) to fill a void in oilseeds complex futures because of a ban in several high-volume commodities.
On August 7, the Reserve Bank of India and the Securities and Exchange Board of India cleared the guidelines for currency futures trading. Exactly six days later, the National Stock Exchange got the market regulator's approval to start such trading and is scheduled to kick off currency futures this Friday.
As the next step in futures market, traders can consider putting CEOs, bollywood stars and cricketers up for trading in the market.
The new exchange will also help global companies raise finance from other overseas investors.
FMC chairman B C Khatua said differential margins were being considered as the perceived risk of hedgers and speculators was different.
The highlights of RBI's bi-monthly monetary policy announced by Governor Shaktikanta Das:
'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
Anticipating a major shortage of professionals in Futures trading in the coming years, the Multi Commodity Exchange has decided to train 10,000 personnel in the sector this financial year.
According to the scheme, the deposit of Rs 10 lakh (Rs 1 million) for trading and up to Rs 20 lakh (Rs 2 million) for clearing members would be waived for already-registered members of the MCX, BSE, Foreign Exchange Dealers' Association of India, National Commodity and Derivatives Exchange and NSE, who choose to enroll before September 6.
The Bombay Stock Exchange and National Stock Exchange will remain closed on Thursday in the wake of the terror attack in Mumbai.
India's leading commodity exchange MCX rejigged its top management on Friday -- it appointed Joseph Massey as managing director and CEO, and Jignesh Shah as vice-chairman.
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
An analysis of remuneration paid to the business heads at various national stock and commodity exchanges in the country shows that most of them were paid crores of rupees in the last financial year and were mostly awarded a considerable increase in their compensation from the previous year. Leading the remuneration tally, National Stock Exchange gave its managing director Ravi Narain a total payout of Rs 3.34 crore (Rs 33.4 million) in 2007-08.
The steel ministry has asked its finance counterpart to expedite the implementation of the measures that have been decided but not implemented yet to contain steel prices.
Multi-Commodity Exchange of India is the only listed bourse in the country
The turnover of 23 commodity exchanges rose by 57 per cent to Rs 11837.26 billion (Rs 11,83,726 crore) till May 15 of the 2010-11 fiscal as against Rs 7525.18 billion (Rs 7,52,518 crore) in the same period last year.
The Multi Commodity Exchange of India Ltd has finalised the futures contract details of six commodities - gold, silver, castor seed, cotton, rubber and pepper. All the contracts will be physical delivery based.
