Silver ETFs Extend Gains as Gold, IT Ease; Bank, Defence Firm, Liquid Steady on Wednesday

Mumbai, Sept 23: Indian exchange-traded funds tracking silver extended their advance in early trade on Wednesday, even as gold ETFs eased for a second straight session and IT-linked funds slipped across the board. Bank and defence ETFs were broadly firmer, tracking gains in the underlying indices, while liquid ETFs stayed true to form and barely moved. The moves came even as the broader market opened higher, with the Sensex and Nifty both in the green, as investors weighed a diplomatic push at the United Nations over the Iran war against President Donald Trump’s warning that he could “annihilate” the Islamic Republic if no deal is reached. 

Every silver ETF on the exchange traded higher through the morning session, in stark contrast to gold ETFs, most of which slipped into the red. The divergence reflects silver’s dual pull as both a precious and an industrial metal, even as a firmer dollar continued to weigh on the yellow metal. IT ETFs mirrored gold’s weakness, while bank and defence funds stayed mostly in step with the broader market’s gains. 

Gold ETFs ease for a second session 

Gold ETFs were mostly lower, extending Tuesday’s softness. GoldBeES (GOLDBEES), the category’s most heavily traded fund, slipped 0.11 per cent to a last traded price of Rs 124.86. Tata Gold ETF (TATAGOLD) eased 0.14 per cent to Rs 14.67, GoldIETF fell 0.09 per cent to Rs 129.30, and SETFGOLD was down 0.11 per cent at Rs 128.77. HDFC Gold ETF (HDFCGOLD) declined 0.17 per cent to Rs 129.04. Not every gold fund was in the red: LIC MF Gold ETF (LICMFGOLD) added 0.11 per cent and Groww Gold ETF (GROWWGOLD) rose 0.07 per cent, but these were thinly-traded exceptions in an otherwise soft category, with neither trading in meaningful volume. 

Investors looking to diversify beyond physical gold can also explore the list of Gold ETFs in India, which allow exposure to bullion prices without the need to store physical metal: https://hdfcsky.com/etf/gold-etf 

Silver ETFs advance across the board 

Silver ETFs bucked the trend in gold, with every single silver-tracking fund on the exchange trading higher. SilverBeES (SILVERBEES), the largest by traded value, gained 0.33 per cent to Rs 220.99. Tata Silver ETF (TATSILV) rose 0.31 per cent to Rs 22.43, SilverIETF added 0.25 per cent to Rs 230.76, HDFC Silver ETF (HDFCSILVER) climbed 0.34 per cent to Rs 220.82, and SBI Silver ETF (SBISILVER) advanced 0.35 per cent to Rs 226.40. The clean sweep higher, spanning all 19 listed silver ETFs, underlined the metal’s relative strength even as gold struggled to hold its ground and the dollar stayed firm. 

Investors looking to diversify beyond physical silver can also explore the list of Silver ETFs in India, which allow exposure to silver prices without the need to store physical metal: https://hdfcsky.com/etf/silver-etf 

Defence ETFs put in a mixed show 

Defence ETFs were mixed, with two of the three listed funds trading higher. Nifty India Defence ETF by Motilal Oswal (MODEFENCE), the category’s most traded fund, edged up 0.09 per cent to Rs 103.90. Groww Nifty India Defence ETF (GROWWDEFNC) rose 0.19 per cent to Rs 94.45. The lone decliner was BSE India Defence-Tracking ETF (DEFENCE), which slipped 0.14 per cent to Rs 79.13, the only name in the category to trade lower through the morning session, keeping the category’s overall tone tilted positive. 

IT ETFs slip across the board 

IT ETFs were uniformly weaker, with all ten listed funds trading in the red. ITBeES (ITBEES), the category’s most traded ETF, fell 0.82 per cent to Rs 31.51. ITIETF declined 0.88 per cent to Rs 31.54, ITETF eased 0.86 per cent to Rs 30.07, and HDFC Nifty IT ETF (HDFCNIFIT) slipped 0.59 per cent to Rs 30.31. The sharpest fall came from IT BeTa Fund (ITBETA), down 3.39 per cent to Rs 298.54, followed by SBI ETF IT (SBIETFIT), down 0.96 per cent to Rs 314.31, as the technology pack continued to lag the broader market’s gains and a firmer rupee offered little support. 

Liquid ETFs stay flat, as always 

Liquid ETFs stayed true to form, trading largely unchanged through the morning. LiquidBeES (LIQUIDBEES) and LiquidIETF were flat at Rs 1,000.00 and Rs 999.99 respectively, while LiquidCase (LIQUIDCASE) edged up 0.01 per cent to Rs 116.04. Liquid1 (LIQUID1) added a marginal 0.01 per cent to Rs 1,123.81. A handful of smaller names, including ABSL Liquid ETF (ABSLLIQUID) and Liquid SBI ETF (LIQUIDSBI), were fractionally lower, but none of the 20 liquid ETFs on the list moved by more than a few paise, reaffirming their role as a low-volatility parking spot for cash regardless of what the rest of the market is doing. 

Bank ETFs broadly firmer 

Bank ETFs were broadly higher, tracking strength in the underlying banking indices. SBI ETF Private Bank (SBIETFPB), the category’s most traded fund, gained 0.45 per cent to Rs 280.45. BankBeES (BANKBEES) rose 0.48 per cent to Rs 586.30, and PSU Bank BeES (PSUBNKBEES) led the broader pack, up 1.3 per cent to Rs 93.35. BankNifty1 (BANKNIFTY1) added 0.57 per cent to Rs 58.73. A few private-bank ETFs bucked the trend, with PVTBANIETF down 0.04 per cent and Tata Nifty India Digital ETF (TNIDETF) off 0.03 per cent, but these were isolated exceptions in an otherwise firm session for the sector, with PSU banks leading the advance. 

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

Source

• https://www.nseindia.com/market-data/exchange-traded-funds-etf
• Silver ETFs advanced across the board while gold eased for a second session, IT funds slipped uniformly, defence and bank ETFs were broadly firmer, and liquid ETFs stayed as steady as ever.