Shyam Metalics tried to tap the capital markets in 2018 and received Sebi's nod in early 2019. But the company deferred its plans to list on the bourses.
Bullion prices witnessed selling with rise in US bond yields as US 10 year Treasury yields rose above 1.50 per cent to the highest levels since February 2020. The rally in the Bitcoin also pressured precious metals to trade lower.
Bullion prices traded under pressure with rise in US bond yields despite of weaker dollar on strong equity indices. The strong equity indices on economic growth optimism pushed bullion prices down for the day.
Bullion prices traded under pressure with rise in US bond yields despite of dovish stance from US Fed chairman Jerome Powell, as he signalled accommodative policy for next couple of years to support economic recovery.
Ace investor Rakesh Jhunjhunwala, fondly known as Big Bull, opines that the commodity cycle has turned. The valuation of some of the metal stocks is a joke, he says.
The index was trading 4.06 per cent up at 3755.75.
Cues from global markets were not ideal as stocks in Asian and European markets took a hit amid concerns over rising bond yields in the US.
Bullion prices pared some of weekly loses ended higher on Friday while base metals continued to soar on strong demand outlook.