Market Update

Market Watch

Friday, 27 June 2014

Live Mcx Market Tips Morning Updates: Bank of Baroda exits MCX

Multi-Commodity Exchange of India (MCX) today said one of its investors, state-run Bank of Baroda , has sold its entire stake in the troubled bourse. State Bank of India, Corporation Bank and Bank of Baroda - all PSU lenders - had together bought 9.69 percent in MCX in 2004 at a total investment of Rs 3.94 crore, according to the offer share sale document of the exchange. In April, Corporation Bank reportedly offloaded stake worth Rs 19.91 crore in the exchange and brought down its stake to 1.32 percent from 2.10 percent.
Gold futures fell on Thursday as investors brushed off sluggish U.S. data and avoided the commodity after a key Federal Reserve official gave an upbeat forecast for the economy. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at 1,316.40 a troy ounce during U.S. trading, down 0.47%, up from a session low of $1,307.00 and off a high of $1,320.60. The August contract settled up 0.10% at $1,322.60 on Wednesday.
MCX SILVERM June contract was trading at Rs 44349 down Rs 318, or 0.71 percent. The SILVERM rate touched an intraday high of Rs 44600 and an intraday low of Rs 44207. So far 10142 contracts have been traded. SILVERM prices have moved down Rs 15150, or 25.46 percent in the June series so far.

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