BSE and NSE will remain open for trading from 4.30 pm till 7 pm on the occasion of Dhanteras.
Top stock exchanges – NSE and BSE have extended trading session on October 21 on the occasion of Dhanteras, a day considered to be auspicious for buying gold.
A total of 14 Gold ETFs will be available for trading on both the exchanges. After the end of normal trading session at 3.30 pm, BSE and NSE will be open for trading at 4.30 pm till 7 pm for trading in Gold ETFs.
“All unmatched pending orders of Gold ETF securities at 3:30 pm shall be cancelled and not carried forward to the extended trading session,” said a BSE notice.
Gold ETFs reflect domestic prices of gold.
Falling gold prices has led investors to desert Gold ETFs. Over a one year period, gold has been the worst performing asset delivering – 9% return, shows Value Research data.
Investors have pulled out Rs. 978 crore from Gold ETFs as on September YTD. As a result, the assets under management have fallen sharply from close to Rs. 10,000 crore last year to Rs. 7,277 crore as on September 2014, shows AMFI data.
Goldman Sachs Gold ETF, R*Shares Gold ETF and SBI Gold ETF are the three largest Gold ETFs in the industry which manage Rs. 1,927 crore, Rs. 1,656 crore and Rs. 1,051 crore, respectively.
