Gold exchange-traded funds (ETFs) sparkled on the day of Akshaya Tritiya on the stock exchanges — National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Trading in gold ETFs gave a volume of Rs 172.39 crore to NSE, 87 per cent higher than BSE. Typically, trading in gold ETFs witnesses a volume of less than Rs 20 crore on NSE, said the spokesperson.
Benchmark Asset Management Company's (AMC) gold ETF, Gold Bees, got the highest volume of Rs 87 crore, Reliance Mutual Fund's Relgold got Rs 26 crore and Quantum Mutual Fund's, Quantum Gold Fund ETF close to Rs 18 crore on NSE.
The biggest loser in trade was Quantum Gold Fund ETF, down 5.6 per cent and Relgold was down 1.5 per cent. UTI AMC's, Gold Share, gained 1.6 per cent in trade today.
Gold Bees got the highest volume of Rs 14.54 crore, Relgold got Rs 3.07 crore and SBI Mutual Fund's, SBI Gets, saw a volume of Rs 2.07 crore on BSE. Gold Share gained the most, was up 1.6 per cent and Relgold was marginally down in trade today.
Both exchanges conducted a special trading session in gold ETFs from 9:30 am to 3:30 pm on the occasion of Akshaya Tritiya. Akshaya Tritiya is considered an auspicious day for buying gold.
Traditionally, physical gold ( jewellery or coin) is bought on the day of Akshaya Tritiya, but, over the past few years the demand for gold ETFs has risen considerably, say experts. Each unit of a gold ETF is equivalent to one gram of gold.
Monday, May 17, 2010
Gold ETF trade volume at NSE 87% higher than BSE
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