BSE extends
trading hours for gold ETFs, sovereign gold bonds on Akshaya Tritiya, till 7 pm on 28 April, 2017
Leading stock exchange
BSE has extended trading hours for gold exchange traded funds (ETFs) and
Sovereign Gold Bond till 7 pm on 28 April, 2017 on account of Akshaya Tritiya.
Occasions like
Dhanteras, Diwali and Akshaya Tritiya are considered auspicious to buy
valuables like gold in India. Trading in gold ETFs is usually higher on these
days.
“On the auspicious
occasion of Akshaya Tritiya on Friday, 28 April, the exchange has decided to
conduct extended Live Trading session in Gold Exchange Traded Funds (ETF)
securities and Sovereign Gold Bond (SGB) securities in the equity segment,” BSE
said in a circular issued on Monday.
After the regular market
hours from 9.15am to 3.30pm across all segments, trading in gold ETFs will
resume at 4.30pm and continue till 7 pm, it added.
Gold ETFs track physical
market gold prices and each unit of these ETFs is generally equivalent to one
gram of gold while Sovereign Gold Bonds are government securities denominated
in grams of gold offering an alternative to holding gold in physical form.
In gold ETFs, returns
are linked to the domestic price of physical gold but spare the investors from
the trouble of buying and keeping the yellow metal in physical form.
The extended trading
would be allowed in gold ETFs of mutual funds including Axis MF, HDFC MF, IDBI
MF, Reliance MF, Quantum Religare MF, Kotak MF and Birla SunLife MF.
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