This will give many small jewellers an opportunity to hedge their risk without worrying about daily volatility.
India is the world's second-biggest buyer of gold, typically importing around 800 tonnes a year. In June, markets regulator allowed hedge funds registered as category III Alternative Investment Funds (AIFs) to invest in commodity derivatives as clients, opening the market to institutional investors for the first time.
Gold options and entry of hedge funds will increase the exchange's turnover in the next fiscal year, as per company’s management.
On the financial front, MCX's total income dropped 7.1% from a year ago to Rs 87.24 crore in Q1FY18 on YoY basis.
Multi Commodity Exchange of India Ltd ended at Rs 1041.05, down by Rs 6.05 or 0.58% from its previous closing of Rs 1047.1 on the BSE.
The scrip opened at Rs 1025.1 and touched a high and low of Rs 1049 and Rs 1002.55 respectively. A total of 312302(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5309.36 crore.
The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 1420 on 03-Oct-2016 and a 52 week low of Rs 924.5 on 12-Sep-2016. Last one week high and low of the scrip stood at Rs 1130.2 and Rs 1002.55 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 61.31 % and 38.42 % respectively.
The stock traded below its 200 DMA.
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