The Reserve Bank of India may move forward to accumulating more gold as the yellow metal is expected to shine in the years to come. "A weaker dollar could diminish the value of India's foreign exchange reserves and hence this could lead to further accumulation of gold by the RBI. This move will help India's central bank to hedge its downside risk on the foreign exchange reserves front," Angel Commodities Broking analyst Amar Singh said.
Traders in Mumbai said palm oil futures in Malaysia, the benchmark for the commodity, has been icreasing thanks to rising demand from India, the world's second biggest buyer of vegetable oils.
NSEL, has up to Rs 500 crore (Rs 5 billion) daily turnover in e-golds.
Benchmark indices finished higher on hopes of economic reforms
Asian shares ended higher after a string of positive US economic data.
Demonetisation was not a good idea and the time should have been utilised instead to fine-tune the Goods and Services Tax before it was introduced, said Gita Gopinath, John Zwaanstra Professor of International Studies and of Economics at Harvard University, in an interview with Advait Rao Palepu.
Electricity could soon be bought and sold just like equity shares and commodities with Central Electricity Regulatory Commission initiating the exercise for setting up a power exchange in the country.
Prices moved up sharply in recent months.
In a significant development, India's National Commodity & Derivatives Exchange Limited on Thursday launched its futures contract for Certified Emission Reduction. Forward Markets Commission, chairman, B. C. Khatua inaugurated the launch at NCDEX Exchange Platform. The CER contract of NCDEX will be traded in multiples of one lot of 500 CERs each.
Select leading markets like Bombay Stock Exchange, National Stock Exchange, forex and money market will remain closed on December 25, on account of Christmas.
'Government is saying that I will not be responsible for ensuring you get MSP but traders and large corporate will be responsible. 'India now is the only country that is saying such things'
Countries with abundant resources are faring worse in terms of development than those with less.
While some bankers said that responses to the Sebi are being delayed deliberately in some of the cases in view of the turbulent market conditions prevailing on the bourses, those associated with some of these deals said these are 'routine' clarifications and would be responded in the due course. According to the latest processing status as on March 14 of draft offer documents filed with Sebi, clarifications are currently awaited from lead managers in relation to 20 IPOs.
"The National Exchanges were directed on July 23 to ensure that multiple client codes are not given to a single client," Forward Markets Commission said. A separate sting or suffix may be provided after the unique client code to represent different characteristics and branches of the client, if any, it said, adding that these directions would come in force from January 2009.
The BSE mid-cap Index will include shares of Allied Digital Services, Cals Refineries, Century Plyboards, Gammon Infra, Hindustan Oil Exploration, Indiabulls Securities, Jai Balaji Industries, Jet Airways, Jindal Drilling, Puravankara Projects, Rain Commodities, S Kumars Nationwide, Shriram City Union Finance, Thermax and Thomas Cook India.
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
Forex dealers said strength in euro against the US dollar overseas and increased capital inflows supported the rupee.
India's gold imports contracted by 18.4 per cent year-on-year to Rs 71,912 crore in theApril-June quarter of the current fiscal.
According to the report, benchmark gold ETFs have increased to 2.03 tonnes in May from 1.5 tonnes in the corresponding period last year. Whereas gold ETFs at UTI, Reliance Capital and Kotak remained at 1.32 tonnes, 1.23 tonnes and 0.34 tonnes respectively during May period, it said.
Cricket Australia termed 'arrogant' and 'controlling' in stinging review report
'We will have to get together internally and figure how this will happen.' 'Suffice to say, it is feasible and will be done in a logical way.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances