The country's two major exchanges, Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), 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' day, which is considered as auspicious day for buying the precious metal. Keeping this in mind, the BSE will keep a special window open for trading in Gold ETFs on May 16, the BSE said here in a statement.
With increasing popularity of Gold ETFs with retail investors and based on market feedback, NSE has decided to have live trading session on May 16 only for trading in Gold ETFs, the NSE said in a separate statement.
Both the exchanges 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.
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.