The reason, say market players, is heavy losses suffered by traders in south India and Ahmedabad dabbling in the white metal.
Ambitious plans by NGOs and companies to take technology to farmers are not always successfully executed.
After a long lull, India's equity primary market is set to witness some activity. The Multi Commodity Exchange of India (MCX) is set to hit the market with its initial public offer (IPO) in February. The investment banking circles are already buzzing with talks about valuation. Experts say, if priced well the issue could pump life into the moribund IPO market.
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.
Gold futures climbed to a fresh high of Rs 28,800 per 10 grams on Tuesday, tracking a firming trend overseas, where the rate topped $1,910 an ounce as global financial turmoil raised demand for the metal as a safe haven.
Airlines have been conducting fuel efficiency analysis, which involves fuel calculations on a daily basis, based on the availability of optimum routes in terms of wind, flight levels and overflying charges, route rationalisation to prune the number of flights and increase utilisation. They also want the Centre to grant ATF a declared goods status, which would result in a uniform levy of 4 per cent sales tax at the state level.
With the West Asian/North African crisis not likely to end soon and investors' appetite increasing for gold, it is expected to touch $1,600 an oz by the year-end.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
These investments from strategic international partners would provide Indian commodity markets and MCX access to global know how and technology making them more efficient, competitive and transparent institutions globally.
You can now pay all your bills with your phone.
Another PSU has entered the arena of bullion Futures market. In a recent development, the Handicrafts & Handlooms Exports Corporation of India, a PSU under the ministry of textiles, has started hedging in bullion metals at the Multi Commodity Exchange. According to the PSU officials, it has hedged Rs 13 crore in gold and silver over the last one month.
Pepper futures set a new record of Rs 457.09 crore (Rs 4.57 billion) during intra-day trading at the National Multi-Commodity Exchange last week.
Breaking all previous records, gold prices on Saturday surged to a new peak at Rs 16,349 per 10 gram in futures trade, as traders increased their exposure in the precious metal following melting stock and forex.
Online futures trading in coffee was launched in Bangalore on Tuesday by the National Multi-Commodity Exchange of India.
Shah wants to focus this time on a mentoring role and help youngsters with innovative ideas live their entrepreneurship dreams by providing them a platform for "institutionalisation, globalisation and scaling up" of their ventures.
Low-cost carriers SpiceJet and IndiGo were two of the main traders of aviation turbine fuel (ATF) at the Multi Commodity Exchange of India (MCX), which started trading of ATF futures on Monday, market sources said. Around Rs 34.8 crore worth of ATF was traded till five on Monday evening.
Investors and traders in India have been making money on silver futures in the last two months.
The National Multi-Commodity Exchange NMCE on Tuesday launched a new series in Soya oil, Guar seed and Chana desi for futures contracts.
Gold breached the psychological Rs 17,000-per-10-gm mark for all the running contracts in futures trading at the Multi Commodity Exchange on a firming trend in the global markets where it crossed $1,140 an ounce.
Gold for delivery in far-month February contract surged to Rs 16,785 per 10 grams before slipping 0.58 per cent to Rs 16,774 per 10 gram in a turnover of 164 lots.
Multi-Commodity Exchange of India is the only listed bourse in the country
Retail investors now own a larger share of smallcap companies than they did a year ago, thanks to their conviction in mutual fund (MF) schemes focused on this segment. Data from Capitaline shows that MFs' average holding in the National Stock Exchange Nifty Smallcap 250 Index stood at 9 per cent at the end of the October-December quarter of 2023-24 (FY24), up from 7.76 per cent in the same quarter of 2022-23.
Retail investors now own a bigger slice of smallcap companies than at the start of 2023-24 (FY24), underscoring their growing conviction about investing in this red-hot space. Data from Capitaline shows mutual funds' (MFs') average holding in the National Stock Exchange Nifty Smallcap 250 rising to 9.26 per cent from 8.67 per cent during the first six months of FY24, with the number of companies with over 20 per cent MF holdings increasing from 24 to 28. In comparison, MF holdings in Nifty50 companies have gone up only marginally, from 9.67 per cent to 9.75 per cent.
Silver gained 0.20 per cent to Rs 50,276 per kg in special Muhurat trading on the Multi Commodity Exchange (MCX) today as participants built new positions to mark the start of Samvat year 2070.
The exchange has always seen huge volumes in gold trading. But due to a fall in prices, volumes took a hit.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
SEBI's blockbuster reforms are rewriting the rules of mutual fund investing -- faster growth, sharper transparency, and smarter safeguards that put investors first, explains Ramalingam Kalirajan.
The FMC had warned MCX that it would not renew contracts, allow new contracts and eventually take away the licence to run the bourse if the commodity exchange does not comply with regulatory norms.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
The board will have to take a decision that he cannot remain a permanent director and also have to decide to whether to amend the article of association of the exchange in this regard.
The exchange has written to MCX for greater details on the special audit. BSE has sought the names of related parties, which have been withheld by MCX.
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.
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.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
Foreign share holding limit in Maruti Suzuki India has reached trigger limit and any further investment by FIIs will be allowed only after RBI's approval.
