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.
From the Sensex firms, HCL Tech, Tata Steel, Tech Mahindra, Reliance Industries, Bharat Electronics and ICICI Bank were among the laggards. Bajaj Finance, Hindustan Unilever, UltraTech Cement and Power Grid were among the gainers.
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 slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
'If gold's recent surge has increased its allocation beyond 15 per cent in your portfolio, now may be a good time to rebalance.'
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.
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
A dedicated physical gold exchange could lead to standard gold pricing in India.
From the Sensex firms, Hindustan Unilever, Kotak Mahindra Bank, Trent, Reliance Industries, Asian Paints and ITC were among the gainers. However, Bharat Electronics Ltd, Tech Mahindra, UltraTech Cement, Maruti and Eternal were among the laggards.
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.
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.
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.
From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, HDFC Bank, Reliance Industries and Axis Bank were among the major gainers. In contrast, Trent, State Bank of India, Tech Mahindra, Maruti and Mahindra & Mahindra were among the laggards.
A lower risk appetite among investors has driven gold, traditionally a safe-haven asset, to record highs so far this year. Fuelled by geopolitical tensions in West Asia, robust demand from central banks - particularly in Asia - and US President Donald Trump's tariff volleys, spot gold touched an all-time high of $2,956 per ounce on February 24 in the international markets.
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.
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.
Exchange Traded Funds (ETFs) have stepped into the spotlight this quarter. With evolving market conditions and shifting investor sentiment, ETFs offer a timely solution for accessing growth with liquidity and efficiency. In this article, we break down the most important ETF trends, performance drivers, and what to watch in the months ahead.
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.
Move follows 26 per cent acquisition in Ahmedabad's NMCE.
HCL Tech, Adani Ports, Eternal, Maruti, Reliance Industries and Asian Paints were among the gainers. HDFC Bank, ICICI Bank, Bharti Airtel and Infosys added to the rally. IndusInd Bank emerged as the only laggard.
Talking during the India Investment Show organised by myiris.com in association with ICICI Direct, Chiragra Chakrabarty, head of training, Research and Development, Multi Commodity Exchange, said the commodity market has huge volatility.
India's leading commodity bourse - the Multi Commodity Exchange - has tied up with the US-based Institute of Financial Management to conduct training programmes on futures and options across the country.
'While investing in a silver ETF, one should be aware that it has historically exhibited higher price volatility than gold.'
According to the Sebi circular, commodities that require price control measures will be less conducive for the derivatives market.
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.
India's leading national commodity exchanges have asked the government to immediately lift the ban on futures trading on certain agricultural commodities.
The Reserve Bank of India is exploring a dedicated currency futures exchange, after taking an in-principle decision to launch rupee-denominated futures.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
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.
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