Shares of Multi Commodity Exchange of India Ltd (MCX) rose more than 4% on Tuesday following reports that a SEBI panel has recommended allowing Foreign Portfolio Investors (FPIs) into commodity derivatives in a phased manner.
As per Moneycontrol, the Commodity Derivatives Advisory Committee (CDAC) has suggested that FPIs be permitted to participate initially in non-agricultural commodity derivatives.
The proposal outlines that, in the first phase, FPIs could be allowed to trade in gold and silver derivatives. No timeline for implementation has been specified.
The recommendations are yet to be formally approved by the Securities and Exchange Board of India.
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