Few financial products could match its derivative contracts that always sold at a premium. But the exchange forgot one crucial link: to back its contracts with solid assets.
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by MMTC, challenging the settlement scheme between National Spot Exchange Ltd (NSEL) and its traders, affirming the earlier approval by the NCLT and the Supreme Court.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
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.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
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In most developed markets, there are reporting agencies for spot markets and generally deals took place on the over-the-counter market.
The company, which has applied for a license, is likely to get an ad hoc license in another 10 to 15 days.
Gold and silver prices experienced a significant drop in the national capital due to a global selloff driven by inflation concerns, central bank policies, and geopolitical tensions.
The Safal National Exchange, an on-line spot exchange based in Bangalore has begun online spot trading in mangoes.
India's good old 'mandis' are all set to make way for swanky spot exchanges soon. In two months' time, winds of change will sweep across the country's agricultural sector with the launch of electronic spot exchanges.
A deadlock between Delhi Police and Himachal Pradesh Police occurred over the arrest of three people in connection with a protest at the AI Impact Summit, leading to a nightlong impasse and accusations of obstruction of justice.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
Iran's participation in this year's World Cup has been called into question after co-hosts the United States launched joint air strikes at the country along with Israel at the weekend.
Three women from Arunachal Pradesh living in Delhi allege they were subjected to racial slurs and harassment by their neighbors following a minor dispute over dust from an AC installation.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
A versatile and dynamic Australian unit, without key pacer Pat Cummins and Josh Hazlewood, who is likely to miss the early stages of the tournament, will be going into the T20 World Cup with hopes of going deep in the tournament.
'We hope we will be able to at least end crashes that involve collisions with stationary vehicles as there will be an automatic warning.'
The BSE Sensex has been one of the top-performing areas of investment in the past 40 years, consistently delivering double-digit returns in rupee terms, beating assets such as global equities, precious metals, and fixed income.
The government bond yield curve is likely to flatten in the financial year 2027 (FY27) as the Reserve Bank of India (RBI) is expected to ease supply pressure in the ultra-long segment. In FY26 so far, reduced investments by insurance companies and pension funds pushed up yields on ultra-long tenor securities, steepening the curve.
Vedanta, a conglomerate in mining and metals, has seen a surge in its share price on the back of multiple triggers. Its demerger appears to be on track, a strong non-ferrous commodity cycle is boosting margins, and silver bulls are interested in Hindustan Zinc, its subsidiary.
At least four militants belonging to a banned outfit were killed in an encounter with security forces in Manipur's Churachandpur district.
Gold prices dropped by Rs 4,100 to Rs 121,800 per 10 grams in the national capital and slipped below $4,000 an ounce in the global markets on Tuesday as easing US-China trade tensions dampened safe-haven appeal. According to the All India Sarafa Association, the precious metal had closed at Rs 125,900 per 10 grams on Monday.
The Securities and Exchange Board of India (Sebi) on Wednesday announced a slew of measures to ease the compliance burden in the stock markets ecosystem, encourage more companies to list on the bourses after reverse flipping to India, and facilitate greater foreign fund flows into government bonds.
Names and names and names and names... 329 in all. Some Indian. Some Canadian. Some British. Berry. Gupta. Jain. James. Bhatt. Beauchesne. Chatlani. Enayati. Lougheed.... Vaihayasi Pande Daniel visits Ahakista, Ireland, home to the memorial for the worst terrorist atrocity in India's history.
'...then preparing oneself for the long haul is also essential.' 'Identifying and holding onto values gives you strength to withstand the difficulties enroute.' 'Taking care of your physical, mental, and intellectual well-being gives you the strength to stay the path.'
'Lots of people fade away from our memory after they die, but he will stay on forever.'
World Junior C'ships: Gnana Dattu, Bhavya-Vishakha reach quarters; Tanvi, Unnati also advance
Gold prices surged Rs 2,200 to hit a fresh peak of Rs 116,200 per 10 grams in the national capital on Monday buoyed by strong global cues as investors awaited key commentary from US Fed officials for policy direction. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,14,000 per 10 grams on Friday.
Indian shuttlers Tanvi Sharma, Unnati Hooda and Rakshitha Sree Ramraj overcame some anxious moments to advance to the pre-quarterfinals of the BWF World Junior Championships, in Guwahati, on Wednesday.
Rising for the sixth consecutive session, gold prices rallied Rs 1,000 to hit yet another record high of Rs 105,670 per 10 grams in the national capital on Monday, lifted by expectations of a rate cut by the US Federal Reserve this month and robust demand in overseas markets.
The Indians will have another chance on Sunday to make the cut for the Tokyo World Championships.
Dinesh Raheja celebrates Lata's 96th birth anniversary on September 28 by picking some choice examples of her non-typical songs that are tinged with a rare eroticism.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
The Enforcement Directorate (ED) has earmarked assets worth about Rs 15,000 crore that will be restored to victims of real estate, Ponzi and other frauds across India during the current financial year. The agency has been "aggressively" initiating this provision for restitution since last year to ensure rightful claimants duped by financial crime get their dues. The ED has already restored Rs 31,951 crore worth of assets under this provision, including Rs 15,201.65 crore from 2019-21 in cases related to Vijay Mallya, Nirav Modi and the National Spot Exchange Limited (NSEL). The ED Director has issued directions to all regions to actively work on cases marked for restitution of assets worth Rs 15,000 crore during the financial year 2025-26.
'No respite from economic pain is worth the loss of dignity and self-respect,' asserts former foreign secretary Shyam Saran.
Originally hailing from Andhra Pradesh, the 67-year-old was involved in indoctrination and radicalization of youth and also responsible for numerous Maoist attacks in Chhattisgarh, resulting in the death of civilians and security personnel, they said.
The National Spot Exchange Ltd (NSEL), an arm of Multi Commodity Exchange (MCX), is planning to launch gold and silver (bullion) contracts in spot market in Kolkata by end of this month.
A fresh political row has erupted in West Bengal after a person allegedly involved in Bangladesh's August 2024 student protests was found listed as a voter in Kakdwip, triggering sharp Bharatiya Janata Party-Trinamool Congress exchanges over alleged illegal infiltration and manipulation of the voter list in the state.
A soldier of the special forces of the army was killed in an encounter between security forces and terrorists following a search operation in Jammu and Kashmir's Udhampur district on Thursday, officials said. The firing took place in the Dudu-Basantgarh area during a cordon and search operation that was launched based on information about the presence of terrorists. The deceased soldier has been identified as Havaldar Jhantu Ali Sheikh of 6 Para of the Special Forces. The operation was still underway when the last reports came in from the spot, they added. Four suspects were also picked up for the area for questioning. This is the third encounter between terrorists and security forces in Jammu in the past over 24 hours.
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