MUMBAI: Both the Bombay Stock Exchange and the National Stock Exchange today said that they will keep a special window open for trading in Gold
ETFs (exchange traded funds) on Akshaya Tritiya day on May 16.
Historically, gold sales surge on Akshaya Tritiya. Keeping this in mind, the Bombay Stock Exchange will keep a special window open for trading in Gold ETFs on May 16, the BSE said here.
With increasing popularity of Gold ETFs with retail investors and based on market feedback, NSE has decided to have live trading session on May 16 only for trading in Gold ETFs, the NSE said.
Both the Exchanges would keep the market open from 9 am to 3.30 pm on Sunday, for a special trading session in Gold ETFs that are traded on the Exchange's equity trading platform, a press release issued by both exchanges said.
Given BSE's long-term commitment to increase financial inclusion by providing sound financial investment products to households, the Exchange will provide its members and their clients access to gold ETFs on this special day, the release said.
Gold ETFs have been doing well in Indian markets. Compared to other geographies where ETFs are popular, India is unique in the sense that the ETF market till date has been driven by gold ETFs, both in terms of number of instruments and AUM (assets under management).
There are seven Gold ETFs including Benchmark Goldbees, Kotal Gold ETF, Quantum Gold Fund, Reliance Gold ETF, Religare Gold ETF, SBI MF-SBI Gold ETS-Go and UTI Gold ETF are available for trading on Sunday, NSE said.
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