The Bombay Stock Exchange on Thursday said it will keep a special window open for trading in gold ETFs (exchange traded funds) on 'Akshaya Tritiya' day on May 16.
Historically, gold sales surge on 'Akshaya Tritiya', which is considered as an auspicious day for buying gold.
Keeping this in mind, the Bombay Stock Exchange will keep a special window open for trading in Gold ETFs May 16, the BSE said.
The exchange would keep the market open from 9 am to 3.30 pm on Sunday, for a special trading session in gold ETFs that are traded on the exchange's equity trading platform, a press release issued by BSE said.
Given BSE's long-term commitment to increase financial inclusion by providing sound financial investment products to households, the exchange will provide its members and their clients access to gold ETFs on this special day, the release said.
Gold ETFs have been doing well in Indian markets. 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).
