NSE to hold special session for gold ETFs on Dhanteras

The National Stock Exchange on Friday said it will hold a special trading session for gold exchange traded funds on November 11 on the occasion of Dhanteras.

The National Stock Exchange will hold a special trading session for gold Exchange Traded Funds (ETFs) in the equity segment on the November 11 from 11am to 3.30pm.

There will be no trading in any other product in the equity segment, on that day, the exchange said in a statement.

Dhanteras is considered an auspicious occasion to buy gold, and a lot of trading interest has been observed on that day, in gold ETF's in the past, it added.

Trading in gold ETFs is usually higher on days like Akshaya Tritiya, Dhanteras and during festivals.

The gross monthly traded value on gold ETFs on NSE, stood at Rs 1,195 crore, taking an average of the first seven months of 2012 (January to July 2012) as against Rs 933 crore, in the first seven months of 2011, a rise of about 28 per cent.

Assets under management (AUMs) for gold ETF's (on NSE and BSE) stood at Rs 11,198 crore as on September 2012 as against Rs 8,173 crore at the same time last year, a growth of 37 per cent. Currently, 14 AMCs offer this product on the NSE platform.