Gold prices rallied by Rs 630 to a lifetime high of Rs 82,700 per 10 grams in the national capital on Wednesday following persistent buying by jewellers and retailers amid strong global trends, according to the All India Sarafa Association. Rallying for the sixth straight session, gold of 99.5 per cent purity appreciated by Rs 630 to hit a lifetime high of Rs 82,330 per 10 grams.
Gold prices hit a fresh record high of Rs 84,900 per 10 grams in the national capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams.
The decision to quiz Sinha, as also former Sebi Chairman M Damodaran, was taken after examination of another former Sebi chief C B Bhave earlier this month, during which the agency sleuths were told that public interest was involved in grant of licence to MCX-SX to trade in currency derivatives.
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
The MCX Stock Exchange (MCX-SX) is likely to start trading in equities in the next two-to-three months, a top company official said.
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.
Just days before the court-mandated verdict on its application for a stock exchange licence, the MCX Stock Exchange (MCX-SX) has accused Securities and Exchange Board of India (Sebi) of blatant favouritism and "tricking it with ulterior intent".
Jignesh Shah-promoted MCX Stock Exchange (MCX SX) will partner London-based index calculator FTSE to create new index opportunities for the Indian financial markets.
Manoj Vaish on Saturday took charge as Managing Director and CEO of the country's leading commodity exchange MCX that is under the regulatory glare following troubles at the promoter group.
MCX has been struggling to raise funds with a rights issue, ending on Thursday.
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.
Board to ask National Securities Depository to unfreeze 5% of FTIL's stake.
MCX-SX on Friday said the rights issue would now close on April 17.
In terms of value, this translates into more than Rs 300 crore (Rs 3 billion) of delivered quantity.
Brokers have only kept guarantees for which they have open positions.
Deloitte, MCX's is learnt to have objected to PwC pointing out several irregularities in the exchange's expenditure, donations, etc, in its audit report.
The objective is to ensure the exchange's preparedness in the event of a natural calamity, so that any disruptions should not affect market integrity and investor confidence.
MCX deputy managing director Joseph Massey said it was a "routine investigation" by the IT department at the exchange.
Market regulator Sebi on Thursday rejected MCX Stock Exchange's plea for starting trading in equities as also derivative trading in equity, interest rate and debt, saying giving the permission would not be in the interest of the market and public interest.
Market regulator SEBI has asked the new stock exchange MCX-SX to explain why it should be given permission to start trade in equities in view of issues relating to its shareholding, including by Financial Technologies and commodity exchange MCX.
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.
With the new season beginning in August-September, the MCX jute Futures contract is likely to help the industry lock in a raw jute price for hedging.
'If gold's recent surge has increased its allocation beyond 15 per cent in your portfolio, now may be a good time to rebalance.'
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
Without naming National Stock Exchange, MCX-SX also said that its rival was killing competition by offering free trading in currency derivatives, and thus making it difficult for it to get business and investors.
The rolling out of the raw jute futures contracts comes close on the heel of the successful launch of Kufri Jyoti potato futures contract from MCX.
MCX Stock Exchange (MCX-SX) continued its tirade against the Securities and Exchange Board of India (Sebi), alleging "discrimination" and "character assassination" while rejecting its application for launching a full-fledged stock exchange.
Gearing up to launch its equity trading platform, the country's newest stock exchange MCX-SX on Thursday said it will focus on bringing those companies to its fold that are already listed on other bourses.
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.
A Delhi University alumnus with an MBA in finance and a doctorate, Vaish started his career as a banker in 1984, became an academician a few years later and joined the capital market in 1998.
Jignesh Shah, the promoter of Financial Technologies India Ltd, on Wednesday resigned from the board of MCX Stock Exchange, amid continuing Rs 5,600 crore (Rs 56 billion) payment crisis at group company NSEL.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
If implemented, it will be the first commodity exchange to offer such a facility.
India's largest commodity bourse-the Multi Commodity Exchange (MCX)-has bagged the highest ISO certification in information security management in the world.
Kotak Mahindra Bank has decided to buy a 15 per cent stake in Multi Commodity Exchange (MCX) for Rs 459 crore from Financial Technologies India (FTIL).
The board of directors at its meeting held on October 22, approved the said appointments, the exchange said in a regulatory filing on Wednesday.
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The exchanges have observed significant price and volume movement in the scrips of MCX in the recent past.
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.
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