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Commodity market boost: Sebi plans to boost institutional participation; derivatives and bonds in focus – The Times of India
Markets regulator Sebi is taking steps to enhance institutional participation in both agricultural and non-agricultural commodity markets, aiming to make them more appealing for hedging activities, its chairman Tuhin Kanta Pandey said on Thursday, PTI reported.Speaking at the Bloomberg Forum for Investment Management, Pandey said, “We are looking to enhance institutional participation to make this market more attractive for hedging.” He added that deepening India’s cash equities market and improving the derivatives segment remain high priorities.The Sebi chief emphasised that any further measures to strengthen commodity markets would be consultative and carefully designed. Last month, he had indicated plans to engage with the government to allow banks, insurance companies, and pension funds to invest in non-agricultural commodity derivative markets.Pandey also highlighted that Sebi is examining proposals to permit foreign portfolio investors to trade in non-cash-settled, non-agricultural commodity derivative contracts.Beyond commodities, the regulator has taken steps to deepen the corporate bond market, making it more accessible for issuers and investors. Sebi is also considering bond derivatives and encouraging the growth of municipal bonds through regulatory reforms and targeted outreach programmes.
Major disruption to energy supplies threatens to push up prices for consumers and businesses around the world.
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Saudi Aramco jumped the most since April 2023 on Sunday as the Iran war entered its second week, prompting supply disruptions that may send oil prices higher when global markets reopen. Shares of the state-backed oil giant climbed as much as 4.9% in Riyadh before paring gains to close up 4.1%, on the first day of trading for the stock since Brent crude prices topped $90 a barrel on Friday.Brent may climb further after UAE and Kuwait started reducing oil production amid a near-closure of Strait of Hormuz waterway, adding to interruptions affecting worldwide energy supply and exports. “For Aramco, we believe that the gain in oil prices would offset a decline in exports,” said Junaid Ansari, head of research and strategy at Kamco Investment Co. “We also believe that Aramco should be able to re-route a bulk of its shipments to the Red Sea. It’s just about logistics and handling the excess capacity.” Aramco has been redirecting oil cargoes to Red Sea facilities on Saudi Arabia’s west coast to avoid the Strait of Hormuz.
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Gold braces for volatile week as Middle East tensions escalate: Analysts | India Business News – The Times of India
After witnessing sharp swings last week, gold prices are expected to remain volatile in the coming days as investors track escalating tensions in the Middle East and key global economic data releases, analysts said on Sunday.Market participants are likely to track developments in the conflict involving Israel and Iran, as any escalation could support safe-haven demand for bullion, while signs of easing tensions may trigger sharp profit booking in the market.“Focus will again be on developments in the Middle East. Any further escalation could be positive for gold prices, but signs of de-escalation may lead to sharp selling,” Pranav Mer, vice president, Commodity and Currency Research at JM Financial Services, told the news agency PTI.Silver is also witnessing heightened volatility, though it is currently in a consolidation phase, analysts noted.“Silver is trading with high volatility but remains capped due to consolidative movements in gold and industrial metals such as copper and zinc,” Mer added.In the domestic market, bullion futures saw sharp swings during the past week. On the Multi Commodity Exchange (MCX), silver plunged by Rs 14,359, or 5.08 per cent, while gold slipped Rs 470, or 0.3 per cent.According to Prathamesh Mallya, deputy vice president, Research (Non-Agri Commodities and Currencies) at Angel One, gold traded within a broad range of Rs 1.59 lakh to Rs 1.70 lakh per 10 grams last week.Geopolitical tensions, strong demand from Asian markets, continued purchases by central banks, elevated US Treasury yields and a firm US dollar are among the key factors currently shaping bullion prices, he said.Globally, silver futures on Comex dropped by USD 8.98, nearly 10 per cent, during the week, while gold prices declined by USD 89.2, or 1.7 per cent.Analysts noted that gold ended the week in negative territory as investors shifted towards alternative safe-haven assets such as the US dollar, Swiss franc and government bonds, even as ongoing geopolitical tensions helped limit deeper losses.Investors will also monitor key economic indicators in the coming week, including inflation and trade data from China, inflation readings from the US, Germany and India, as well as US consumer sentiment and the Personal Consumption Expenditures (PCE) price index, which could influence global growth expectations and monetary policy outlook.
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