Muthoot Finance, Manappuram shares gain up to 3% as gold prices rebound
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Shares of gold financing companies rose by up to 3 percent on Monday as gold prices rebounded in domestic and international markets.
- ✓Muthoot Finance shares gained 3 percent on the NSE, while Manappuram Finance also saw growth.
- ✓Analysts said the rise followed fresh positions created amid firm spot market demand.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Shares of gold financing companies rose by up to 3 percent on Monday as gold prices rebounded in domestic and international markets.
On the National Stock Exchange (NSE), shares of Muthoot Finance gained 3 percent to Rs 2,938.50 at 11:45 am. Manappuram Finance shares were trading 0.45 percent higher at Rs 324.40. IIFL Finance shares also rose nearly 0.4 percent.
In the futures market, gold prices climbed Rs 1,801, or 1.26 percent, to Rs 1,44,353 per 10 grams on the Multi Commodity Exchange (MCX) for December delivery. The contract recorded a business turnover of 1,007 lots.
Analysts attributed the rise to fresh positions created by market participants amid firm spot demand.
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