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04-23-2012, 11:21 PM #1
Markets gear up for Akshaya TritiyaWith an aim to cash in on the investor demand for gold on auspicious occasion of Akshaya Tritiya, the markets have lined up extended trading hours and special incentives for trade in the yellow metal on Tuesday.
Both the leading stock exchanges, BSE and NSE, would allow trading till 8 pm in gold ETFs (Exchange Traded Funds), which allow buy and sale of the yellow metal in paperless electronic format, on Akshaya Tritiya day on April 24.
Besides, the two bourses have decided to waive the transaction charges for all trades done in Gold ETF securities on that day on account of Akshaya Tritiya.
The National Spot Exchange Ltd (NSEL) has also announced special offers on E-Gold, E-Silver and E-Platinum for Akshaya Tritiya. These include zero transaction charges and waiver of making and packing charges on physical conversion of E-Gold, E-Silver and E-Platinum.
“The day of Akshaya Tritiya in India has been traditionally considered very auspicious for purchasing gold, silver, ornaments, precious stones, real estate and other long term assets,” Religare Broking CEO Gagan Randev said.
It is widely believed that any new venture or asset creation initiated on this day will bring in good luck, growth and prosperity....being a human...