ETFs Plunge Across Boards; Silver ETFs Top Losers in Weak Trading 

Mumbai, April 2: Silver ETFs emerged as the biggest losers this morning as they were hit hard during the sell-off in early trade on Thursday. Investors unwound their positions on rising volatility amid fears of escalation in US-Iran tensions. SILVERIETF tumbled ₹8.85 to ₹225.47 and SILVERBEES ended lower by ₹8.85 to ₹215.97 in heavy trades. Various commodity ETFs were dragged down as investors sold down positions amid fears.

Gold ETFs also traded lower but with minor losses. GOLDBEES ended lower by ₹1.56 to ₹121.79 while GOLDIETF ended ₹1.50 lower at ₹125.99. HDFCGOLD and AXISGOLD ETFs also ended lower during morning trades.

Recently President Donald Trump stated that the United States could conclude its military operations against Iran in “a couple of weeks” despite continued uncertainty over the conflict. President Trump in his address to the nation said that U.S. troops would be striking Iran “very hard” over the coming days.

Market Linked ETF

ETFs linked to the equity market witnessed selling on weakness in banking and benchmark indices. NIFTYBEES fell ₹5.13 to ₹252.47 and BANKBEES fell ₹15.40 to ₹518.66. MIDCAPETF dipped by ₹0.56 while SMALLCAP lost ₹0.98 during early trade. Infrastructure ETF INFRABEES ended ₹27.63 lower at ₹876.27 while PSUBNKBEES dipped by ₹3.17 to ₹87.95.

ETFs tracking metals also traded lower with METALIETF edging in the red during early trade.
MAFANG was among the few ETFs trading higher in the morning sessions. The fund gained ₹4.79 to ₹154.53 while MONQ50 rose by ₹1.14 to ₹105.46. LIQUIDBEES and cash instruments hovered around ₹1,000 level as investors preferred buying liquid and low volatility ETFs.

Source: https://www.bseindia.com/markets/etf/ETF_MktWatch.aspx