The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will hold a special session on Sunday, May 16, 2010 to trade Gold ETF on account of Akshaya Tritiya.
As Akshaya Tritiya is considered an auspicious day for the buying and wearing of gold. The National Stock Exchange has decided to hold a glittering session of trade on Sunday May 16, 2010 from 9:00am to 3:30pm (IST).
Globally, the Exchange traded funds (ETF) market is an important vehicle through which retail investors gain access to a broad range of assets. The ETF market in India is poised for strong growth driven by two critical growth drivers - new products and new investors. Compared to other geographies where ETFs are popular, India is unique in the sense that the ETF market till date has been driven by gold ETFs, both in terms of number of instruments and AUM (assets under management). Given the economic and cultural importance of gold to the average Indian family, gold ETFs will continue to serve as the catalyst to attract more retail investors to the ETF segment.
World Gold Council is all geared up for the most auspicious day in the Hindu calendar, ‘Akshaya Tritiya’ which falls on May 16th 2010 this year. The festival is all about prosperity and it is believed that buying and wearing new gold jewellery on Akshaya Tritiya brings luck and success to an individual and his family. As Akshaya Tritiya is considered an auspicious day for the buying and wearing of gold, there will be several promotions and offers around the festival time at leading jewellery retailers across the county
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