Shah's emotional statement indicates he has bid farewell to MCX; but is he stooping to hit back?
Wipro was the biggest loser among Sensex firms, sliding 2.32 per cent, followed by HDFC Bank, Power Grid, UltraTech Cement, ITC, ICICI Bank and Tata Motors. IndusInd Bank, Maruti, State Bank of India, Mahindra & Mahindra, Asian Paints and Bajaj Finserv were among the gainers.
Tinesh Bhasin explains the pros and cons of trading in gold 'options', which were introduced in India this Dhanteras
Investors are reluctant to take long-term positions this year after the spectacular gains in 2023. The delivery-based trades on the National Stock Exchange (NSE) have declined to below 36 per cent this year from an average of 38.1 per cent in 2023. Investors tend to seek delivery for stocks where they see a long-term investment opportunity or tactical positional trade.
At present, foreign direct investment and foreign institutional investments are added to determine sectoral foreign investment cap in banking, credit information companies, broadcasting, commodity exchanges and telecom. But, with RBI allowing FIIs to acquire shares in companies under the portfolio investment scheme, the government is now likely to mandate that sectoral caps would henceforth be for FDI investment only, official sources said.
Amendments to the Agriculture Produce Market Committees Act have opened floodgates for private companies and online commodity exchange in Gujarat.
Though retail demand was weak, jewellers were restocking for Pongal festival.
The government is considering a common appellate authority for insurance and all instruments traded on the stock or commodity exchanges. This comes after the formation of the Financial Stability Development Council, a statutory body to coordinate the functioning of financial market regulators.
Investors may take a 5 to 10 per cent exposure to silver. 'Have a long-term investment horizon when investing in silver ETFs to ride out short-term market fluctuations.'
The National Stock Exchange (NSE) has withdrawn its decision to change the expiry day for Bank Nifty derivatives contracts from Thursday to Friday. The move follows a "request" from the BSE, which settles its Sensex and Bankex derivatives contracts on Friday. The proposed change in Bank Nifty settlement was scheduled to be effective from July 6 with the first weekly expiry on July 14.
Jeweller and importers were awaiting the correction to stock the yellow metal for upcoming marriage season.
The deal values DGCX, which started operations one and a half years ago, at a whopping $1.25 billion.
Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards. Power Grid, Asian Paints, Sun Pharma, Axis Bank, NTPC, ITC and Infosys were among the gainers.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
The Reserve Bank of India has set up an expert working group for examining issues related to the launch of currency futures in the country.
The proposals, approved by Finance Minister P Chidambaram on the recommendations of Foreign Investment Promotion Board, also included the application of Images Multimedia, which would bring in Rs 33.37 crore (Rs 333.7 million) in the country, according to an official release. NYSE Euronext would infuse Rs 281 crore (Rs 2.81 billion) in India for acquiring 5 per cent equity in Multi-Commodity Exchange. This amount includes premium as well.
The National Multi Commodity Exchange is planning to launch turmeric futures of Erode variety soon.
Securities and Exchange Board of India on Friday said the process of demutualisation of bourses will be started soon after government carries out necessary legislative changes.\n\n\n\n
The wedding season will continue till early January and gold is an important gift item at marriages.
Financial Technologies India Ltd, the main promoter of India's largest commodity exchange MCX, on Thursday said it has acquired 90 per cent stake in a South Africa-based ICX Platform (Pty) Ltd for $1.5 million (about Rs 6 crore).Financial Technologies has acquired 90 per cent stake in ICX Platform (Pty) Ltd, a technology company situated at Johannesburg, South Africa, the firm said in a filing to the Bombay Stock Exchange.
Mahindra & Mahindra was the biggest gainer on the Sensex chart, rising 2.56 per cent, followed by Tata Steel, Tech Mahindra, Nestle, Power Grid, Infosys, HCL Technologies, Axis Bank, UltraTech Cement and L&T. In contrast, Asian Paints, ITC, Bajaj Finserv, Bharti Airtel and Tata Motors were among the laggards.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
Equity investors became richer by Rs 2.4 lakh crore as key benchmark indices Sensex and Nifty scaled new peaks in morning trade on Tuesday, amid persistent foreign fund inflows. Analysts said foreign institutional investors have reversed their selling strategy and have been consistent buyers during the last seven days. This momentum is a reflection of institutional confidence in the Indian market, they said.
The Multi Commodity Exchange on Wednesday launched India's first ever crude oil futures contract.
Firm overseas trend, spot demand support uptrend.
Gold had hit an all-time high of Rs 11,492 on the Multi Commodity Exchange, the largest commodity bourse. The gold contract has gone up more than 7 per cent so far in 2008. Traders said the demand for gold is dull, as many people are expecting that the prices will come down.
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
The MCX chief was in the US to clinch a deal with the NYSE that has bought 5 per cent stake in MCX.
Since March 2020, when the Nifty50 plummeted to 7,511 following the announcement of a nationwide lockdown, the stock market has been on an upward trajectory. Over the next four years, the major market index has delivered a remarkable compounded annual growth rate (CAGR) of over 31.5 per cent. In the past year alone, the Nifty50 has gained by 27 per cent, hitting a succession of record highs.
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
Leading stock exchange BSE on Tuesday said it has added 1 crore registered investor accounts to its platform in a span of 148 days, taking the total count to 12 crore. The exchange added one crore investors' accounts between July 18 and December 13, BSE said in a statement. In comparison, the exchange took 124, 91, 85 and 107 days for the previous milestones of 11 crore, 10 crore, 9 crore and 8 crore, respectively.
MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
The exchange has always seen huge volumes in gold trading. But due to a fall in prices, volumes took a hit.
At least 11 firms have called-off their Initial Public Offer (IPO) plans since the beginning of 2012, even as the country's largest commodity exchange MCX today made a stellar debut in the stock market after a highly-successful IPO last month, a report has said.
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