National News
SAIF Partners pares around 6% stake in Senco Gold for Rs 433 cr
Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction
Hong Kong-based SAIF Partners on Thursday pared a 5.8 per cent stake in jewellery retailer Senco Gold for Rs 432.72 crore through an open market transaction. SAIF Partners, through its arm SAIF Partners India IV Ltd, sold shares of Kolkata-based Senco Gold on the BSE.
According to the bulk deal data available on the BSE, SAIF Partners India IV offloaded 45,07,487 shares, amounting to a 5.8 per cent stake in Senco Gold.
The shares were disposed of at an average price of Rs 960.02 apiece, taking the deal value to Rs 432.72 crore.After the share sale, SAIF Partners’ shareholding in Senco Gold declined to 4.97 per cent from 10.77 per cent.
Details of the other buyers of Senco Gold’s shares could not be ascertained.Shares of Senco Gold gained 1.30 per cent to close at Rs 964.35 per piece on the BSE.
National News
Gold and Silver Prices Display Mixed Trend In Domestic and Global Markets
Market Analysts Attribute The Softening In Domestic Gold Prices To Fresh Selling Pressure Driven By Expectations Of Tighter Monetary Policy.
Gold and silver bullion markets experienced mixed trading patterns today. Domestic futures on the Multi Commodity Exchange (MCX) slid lower across both metals, while international markets on Comex saw gold post modest gains against a dip in silver prices.
Domestic Market Overview (MCX)
- Gold Futures (December Contract): Opened lower at Rs 1,39,408 per 10 grams (down from a previous close of Rs 1,39,452) and further slipped to Rs 1,39,312 per 10 grams during active trading. This remains below the 52-week peak of Rs 1,80,779 per 10 grams reached earlier this year.
- Silver Futures (December Contract): Initially opened higher at Rs 1,79,888 per kg (up from a previous close of Rs 1,79,698), but reversed gains to trade down Rs 1,816 at Rs 1,77,882 per kg. The metal is well off its earlier high of Rs 4,20,048 per kg.
International Market Overview (Comex)
- Comex Gold: Rose to $3,948.60 per ounce (up $8.20 from the previous close of $3,940.40 per ounce), having opened at $3,940.80 per ounce.
- Comex Silver: Softened to $49.29 per ounce (down $0.46 from the previous close of $49.75 per ounce), after opening at $49.82 per ounce.
Technical Analysis & Key Levels
Market analysts attribute the softening in domestic gold prices to fresh selling pressure driven by expectations of tighter monetary policy.
MCX gold saw open interest rise by 0.87% to 16,282 contracts alongside declining prices, signalling the creation of fresh short positions. Key technical support for MCX gold is placed at Rs 1,38,070; a breach below this mark could test secondary support near Rs 1,36,690
Gold and Silver Prices Display Mixed Trend In Domestic and Global Markets
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