Gold and Silver ETFs Fall Again as IT Funds Give Back Gains; Bank ETFs Hold Up

Mumbai, Oct 22: Gold and silver exchange-traded funds (ETFs) lost ground for a second straight session on Thursday, with all 26 gold funds and all 19 silver funds trading lower. Silver took the heavier blow, with its funds down between 2.30 and 2.79 per cent, against 0.23 to 1.18 per cent for gold. Information technology (IT) ETFs gave back part of Wednesday’s rally, defence ETFs slipped, and bank ETFs were split, with seven higher and seven lower.

Silver and gold drew the most money outside liquid funds. SilverBeES (SILVERBEES) was the second most traded ETF after LiquidBeES (LIQUIDBEES) at Rs 329.96 crore, and GoldBeES (GOLDBEES) came third at Rs 169.31 crore. NiftyBeES (NIFTYBEES) edged down 0.18 per cent to Rs 259.09, a far milder move.

Silver ETFs Fall Harder as the Monthly Slide Deepens

SilverBeES dropped 2.58 per cent to Rs 190.02 from Rs 195.06. Tata Silver ETF (TATSILV) lost 2.52 per cent to Rs 19.32 on Rs 46.01 crore of traded value, and HDFC Silver ETF (HDFCSILVER) slid 2.70 per cent to Rs 189.70. SILVER001 was the weakest at 2.79 per cent, and AONESILVER the mildest at 2.30 per cent.

SilverBeES is down 12.22 per cent over 30 days and trades about 47 per cent below its 52-week high of Rs 360, though it is still up 34.25 per cent over one year.

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Gold ETFs Lose Less, With a Softer Month Behind Them

GoldBeES slipped 0.58 per cent to Rs 117.45 from Rs 118.13. Tata Gold ETF (TATAGOLD) eased 0.50 per cent to Rs 13.82 on Rs 40.09 crore of traded value, and GoldIETF (GOLDIETF) lost 0.43 per cent to Rs 121.79. TWCGOLDETF fell the most at 1.18 per cent, while AONEGOLD lost just 0.23 per cent.

On the flagship funds, silver fell more than four times as hard as gold. GoldBeES is down 5.92 per cent over 30 days, about half the silver loss, and sits roughly 21 per cent below its 52-week high of Rs 148.14, though it has gained 11.77 per cent over a year.

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Bank ETFs Split Evenly, PSU Funds Mostly Higher

Of the 14 ETFs tracking the Nifty Bank index, seven rose and seven fell, in a range from a 0.79 per cent loss to a 0.21 per cent gain. BankBeES (BANKBEES) rose 0.17 per cent to Rs 569.56 on Rs 25.52 crore of traded value, while Baroda BNP Paribas Nifty Bank ETF (BBNPNBETF) was the weakest, down 0.79 per cent. PSU bank funds fared better, with six of eight higher, and PSU Bank BeES (PSUBNKBEES) added 0.17 per cent to Rs 91.86.

IT ETFs give back part of Wednesday’s rally

All 10 IT ETFs fell, though the losses ranged only from 0.01 to 1.00 per cent. ITBeES (ITBEES), the most traded at Rs 59.86 crore, lost 1.00 per cent to Rs 35.59, and ITIETF fell 0.95 per cent to Rs 35.61. The pullback leaves ITBeES up 11.92 per cent over 30 days, though it is still about 20 per cent below its 52-week high of Rs 44.27.

Defence ETFs Edge Lower

All three defence ETFs fell again, but by less than 1 per cent each after Wednesday’s drop of more than 2 per cent. Nifty India Defence ETF by Motilal Oswal (MODEFENCE) lost 0.71 per cent to Rs 96.62 on Rs 16.75 crore of traded value, Groww’s defence ETF (GROWWDEFNC) eased 0.51 per cent to Rs 87.83, and DEFENCE slipped 0.47 per cent to Rs 73.90. MODEFENCE is down 5.77 per cent over 30 days and about 14 per cent below its 52-week high of Rs 112, though it is up 7.93 per cent over a year.

ETF Snapshot: Silver, Gold, Bank, IT, Defence

Source: https://www.nseindia.com/market-data/exchange-traded-funds-etf

Gold and silver ETFs fell for a second day, silver far more, IT and defence ETFs slipped and bank ETFs were split.