Enlarge Photo
A worker arranges jewellery on a mannequin at a stall during an exhibition in Chennai...
Wed, May 7 11:50 PM
MUMBAI (Reuters) - India's biggest gold exchange-traded fund by volume, managed by Benchmark Asset Management, recorded its highest daily turnover on Wednesday, the day that also had a gold-buying festival.
Volumes were at 91,423 lots, sharply higher than the previous day's 13,966.
"There has been no (big) price movement, so it has to be the Akshaya Tritiya festival," said Rajan Mehta, executive director of Benchmark, when asked why volumes rose.
Akshaya Tritiya, when many people mainly in south India believe buying gold will invoke prosperity, is being celebrated on Wednesday and Thursday.
Benchmark's gold collections were at 1.351 tonnes at the end of April, or 33 percent of the gold ETF market.
Other gold ETFs recorded higher volumes than the previous day, but they were not at their highest.
Lifestyle diseases pose a greater threat to ordinary Indians than even HIV/AIDS, according to renowned cardiologist Dr R.R. Kasliwal.
| Copyright © Yahoo Web Services India Pvt Ltd. All rights reserved. Questions or Comments Privacy Policy -Terms of Service - Copyright Notice |
