World’s largest hybrid gold meet at the Armani Hotel, Burj Khalifa attracts 100 plus countries participation.

IBMC International showcased its unique “Industries Integrated International Trade Flow System” for Global Gold Industry Projects and Trades.

DUBAI:

The UAE has emerged as the global hub for sustainable gold and bullion markets, with the 5th Global Gold Convention bringing the global gold industry on a single platform for collaborations, investments, joint ventures, and a novel integrated trade flow system with global best practices.

The 5th edition of the Global Gold Convention 2023, the world’s largest hybrid gold conference, was held in Dubai at Armani Hotel, Burj Khalifa, on December 12, 2023, with the theme “UAE, The Global Hub for Sustainable Gold and Bullion Markets’.

The UNDRR (UN Office for Disaster Risk Reduction) was the Sustainability Partner for the convention.

The Convention, designed as the world’s largest hybrid conference, saw participation by more than 100 countries, ministers, diplomats, regulators, industry leaders, mines, refineries, jewellers, traders, import-export companies, banking, insurance, and logistics companies from across the world, paving the way for collaboration, business promotion, expansion, and diversification.

More than 200 trade delegates and visitors participated physically apart from virtual participation from 100+ countries, in the most sought-after exclusive Global Gold Conference from the region.

Global Gold Convention was organised by IBMC International, UAE-based Economic, Industry & Corporate Advisors and eMarketplace Service Providers which is connected with 100+ countries and integrated with 30+ Sectors.

The event was inaugurated by HE Humaid Ben Salem, Chairman of International Chamber of Commerce & Industry (ICC UAE) and Secretary General, Federation of UAE Chambers of Commerce & Industry (UAE Chambers).

The Convention was held against the backdrop of high volatility in global gold prices and the UAE becoming the most attractive and most preferred global gold trade hub.

The theme Sustainability has been chosen in line with the UAE hosting the COP28 Conference on Sustainability,” said Mr. Sajith Kumar P.K., Group CEO and Managing Director, IBMC International Group.

In his address, Mr. Sajith Kumar said the “UAE is emerging as the Global Hub for Sustainable Gold and Bullion Markets and IBMC’s “Industries Integrated International Trade Flow System” is set to support the entire Gold Industry stake holders from Gold Mining, Exports, Imports, Refineries, Gold Retail Markets, Jewellery Manufacturing Units and Re-exports”.

Mr. Jeffrey Rhodes, industry expert and Founder & Managing Consultants, Rhodes Precious Metals Consultancy DMCC, who delivered the special industry address on Cop28UAE, said : “The Global Gold Convention 2023 was an excellent event that gave participants the opportunity to express a wide range of views and opinions about the bullion market, including the impact of COP28 on the global gold industry. This included the efforts being made by many companies, including Gold Clean Processing Initiatives to turn the ecological tide and help push the artisanal and small scale gold sector in the right carbon neutral direction with new technology to eliminate the use of toxic chemicals such as mercury in the gold recovery process, while dramatically improving gold yields.”

The Convention offered the participants a comprehensive platform to showcase the entire gamut of gold trade and business and explore potential investment and partnership opportunities through networking, interactive sessions and industry-focused panel discussions.

The high-profile Diplomatic Conclave proved a major draw and beneficial to the participants, with the diplomats presenting the opportunities in the mining, refining, trading, and jewellery manufacturing sectors in their respective countries.

Mr. Anoop P. S., Group CBO and ED, delivered the welcome speech. Mr. Venu V. K., Director, IBMC Trade Flow Ventures, and Ms. Monika Agarwal, Partner of IBMC International, were also present at the convention.

The highlight of this year’s Convention was the recently launched, and first of its kind from the UAE, Industries Integrated International Trade Flow System (IBMC Trade-Flow System) by IBMC International which extended its corporate listing due diligence to all the participating companies in the Convention. Each participant company qualified for corporate listing to get international reach as the first step of due diligence activities out of the five steps in the IBMC Trade-Flow System.  Corporate Listing will help each company attract investment partners, technology partners, and trade partners for expanding their projects and trades to 100+ countries that are connected to the IBMC Trade-Flow System.

UAE-based IBMC International Group is a leading Economic, Industry & Corporate Advisory and eMarketplace Service Provider (IBMC Trade-Flow System) which is connected to 100+ countries and integrated with 30+ sectors. It is an internationally recognized private institution pioneering in professional areas of industry innovations, business, and joint venture strategies.

IBMC International is the recipient of the region’s highest recognitions, such as the Sheikh Khalifa Excellence Award (SKEA) in the Professional Sector, instituted by the Abu Dhabi Chamber of Commerce & Industry, the Corporate Social Responsibility (CSR) Label Award from the Dubai Chamber of Commerce and Industry, and a United Nations (UN)-shortlisted company for Sustainable Development Goals.

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Meet to see participation from more than 100 countries

Dubai:       

The fifth edition of the Global Gold Convention 2023, the world’s largest hybrid gold conference, will be held in Dubai at Armani Hotel, Burj Khalifa, on December 12, 2023 with the theme “UAE, The Global Hub for Sustainable Gold and Bullion Markets’.

This year’s Convention has been designed as the world’s largest hybrid conference for participation by more than 100 countries, ministers, diplomats, regulators, industry leaders, mines, refineries, jewellers, traders, import-export companies, banking, insurance and logistics companies from across the world, paving the way for future collaborations, business promotion, expansion and diversification, according to a press release.

More than 200 trade delegates and visitors from countries are expected to participate in the most sought-after gold conference in the region.

Global Gold Convention is organised by IBMC International, the UAE-based financial services consultancy and eMarket Place Trade Flow Service Providers, and co-organised by the International Chamber of Commerce & Industry UAE (ICC-UAE) and the Federation of UAE Chambers of Commerce & Industry (UAE Chambers).

“The Gold Convention is held in the backdrop of the global gold industry witnessing unprecedented volatility and UAE becoming the most attractive Gold Hub for all gold industry stakeholders. The theme, Sustainability, has been chosen in line with the UAE hosting the COP28 Conference on Sustainability,” said Mr. Sajith Kumar PK, Group CEO and Managing Director, IBMC International.  The United Nations Office for Disaster Risk Reduction (UNDRR) is the sustainability partner of the event.

The event will be inaugurated by HE Humaid Ben Salem, Chairman of International Chamber of Commerce & Industry (ICC UAE) and Secretary General, Federation of UAE Chambers of Commerce & Industry (UAE Chambers).

HE AHMED ELMETWALLY MOHAMMED, CEO & General Manager, Office of HH SHEIKH MOHAMED BIN AHMED BIN HAMDAN AL NAHYAN, Abu Dhabi will deliver the special address from UAE.

Mr. Jeffrey Rhodes, industry expert and Founder & Managing Consultants, Rhodes Precious Metals Consultancy DMCC, will deliver the special industry address on Cop28UAE and the major impact on the global gold industry.

The Convention offers the participants a comprehensive platform to showcase the entire gamut of gold trade and business activities and explore potential investment and partnership opportunities through networking, interactive sessions, industry-focused panel discussions and a unique Diplomatic Conclave where ministers, ambassadors, industry leaders and experts will discuss investment opportunities and industry trends.

A highlight of this year’s Convention is the introduction of IBMC’s Industries Integrated International Trade Flow System tailored exclusively for the participating companies. Each participating companies will  qualify for Corporate Listing to get international reach as the first step of due diligence activities.

Corporate Listing will help each companies to attract Investment Partners, Technology Partners and Trade Partners for expanding their projects and trades internationally.

UAE-based IBMC International Group is the Economic, Industry & Corporate Advisors and eMarketplace Service Providers which is connected with 100+ countries and integrated with 30+ Sectors. IBMC International is an internationally recognized private institution pioneers in their professional areas of Industry Innovations, Business and Joint-Venture Strategies.   IBMC International is the recipient of Region’s highest recognitions such as Sheikh Khalifa Excellence Award (SKEA) in Professional Sector from Abu Dhabi Chamber of Commerce and Industry, Corporate Social Responsibility (CSR) Label Award from Dubai Chamber of Commerce and Industry and United Nations (UN) shortlisted company for Sustainable Development Goals.

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MUMBAI:

After a day of trading in the negative, domestic indices NSE Nifty 50 and BSE Sensex trimmed their losses to end the session with mild gains. Nifty added 17.8 points to settle at 18,314.8, while Sensex closed at 62,027.9, higher by 123.4 points. Nifty gained over 100 points from the day’s low and Sensex added about 500 points from its intraday low to end in the green.

The broader markets were laggards, as Nifty Midcap 50 ended 0.5% down while Nifty Smallcap 50 lost 0.78%. Volatility gauge, India VIX sank 3.1%. Certain sectoral indices outperformed. Bank Nifty gained 0.8% by close, while Nifty Auto, Nifty PSU Bank, Nifty Consumer Durables all closed in the positive territory. Nifty Metal, however, crashed 1.8%; Nifty Media was lower by 1.08% and Nifty IT settled lower by 0.3%.

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MUMBAI:

After remaining range bound on the weekly expiry day on May 11, benchmark indices settled nearly flat even as the US inflation worries reduced. Though, some buying was seen in the broader market.

The majority of sectors traded in sync with the benchmark and ended flat, however, selective buying in banking, financials and FMCG kept the traders busy.

The Nifty 50 index declined 0.1 percent or 18.10 points to 18,297. BSE flagship Sensex dropped 35.68 points or 0.06 percent to 61,904.52.

Shares of Larsen & Toubro on Thursday tumbled over 5 per cent after the company said its non-executive chairman A M Naik has decided to step down from the post and will become the chairman emeritus. The stock fell 5.29 per cent to settle at Rs 2,241.65 on the BSE. During the day, it tanked 5.42 per cent to Rs.2,238.45. At the NSE, it tumbled 5.09 per cent to end at Rs.2,244.

The company’s market valuation declined by Rs.17,582.57 crore to Rs.3,15,059.92 crore.

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The Nifty closed above 11,600 points again on September 16 but did not rise above this level at any stage of trading on September 17. 11,587 is the highest level in the day’s trade. The Nifty opened below 60 points following the fall in the US market. Fluctuations in the market have intensified. Similarly, the Nifty fell by 11,489.50 points to close above 11,500. The stock closed at 11,516.

The Sensex, which had closed at 38,979 points, dropped to a psychological level of 39,000 points. The day’s high was 39,234.81. It had fallen to 38,926 points at one point during trading.

Most of the 50 stocks in the Nifty were down . Thirty-eight stocks in the Nifty gained while 12 stocks lost ground. Hindalco, Tata Motors, Shree Cements, Bajaj Finserv and Adani Ports were the biggest losers in the Nifty. Hindalco fell 4.33%. Shares of Tata Motors, Shree Cements, Bajaj Finserv, Adani Ports and Powergrid lost more than 2%.

Dr. Reddy’s Laboratories, HCL Tech, Zee Limited, Maruti Suzuki and Infosys were the top five gainers in the Nifty. For the second day in a row, Dr. Reddy’s Laboratories gained over 40 per cent. Russia’s Sovereign Wealth Fund has entered into an agreement with Dr. Reddy’s Laboratories to test and distribute COVID vaccine. The stock is at a 52-week high.
HCL Tech and Zee Limited gained more than 2 per cent each.

Pharma and IT stocks were the main gainers on the day. Bank and metal stocks, meanwhile, fell. The Nifty Metal Index lost 1.37 per cent.

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Retail investors generally complain that even when the stock market rises, they do not benefit from the shares they have invested in. This is because such investors are not the only ones holding shares that boost the stock indices Nifty and Sensex.

The situation is such that even a section of mutual funds is not able to break the stock indices Nifty and Sensex. The Nifty and the Sensex are surging based on the rise of 10 or 15 stocks with the highest weightage. This situation is likely to continue. So the reality is that investors who own shares outside of these are currently unable to make a profit.

Shares of leading companies are driving the market. Over the past five years, the Nifty and the Sensex have been driven by the top 10 or 15 largest companies in terms of profitability.

A repeat of this situation will be seen in the market in the coming months. Brokerages and analysts are “upgrading” companies, both indexed and non-indexed, whose per capita earnings are significantly higher, paving the way for more investment in such stocks.

Investment guru Warren Buffett gave advice to investors at the annual general body meeting of his company, Berkshire Hathaway. The advice was to invest in index-class funds to get the best returns. Warren Buffett gave the advice, citing the returns of an index fund based on the S&P 500, an index of the US stock market. This advice can be applied here as well in the present situation.

Index funds and Exchange Traded Funds (ETFs) are ideal investment products for those who want to gain by sticking to the stock index. Index funds and exchange traded funds invest in stocks that are included in the indices. There are some differences between ETFs and Index Class funds. While Indian index funds focus on investing in stocks in the index, the weightage of shares in the fund’s portfolio may not be equivalent to that of the index. The position of the fund manager can also influence the determination of weightage. At the same time, ETFs give an equivalent return to the indices. It is advisable to opt for a Systematic Investment Plan (SIP) to invest in such funds.

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This week saw the stock market trade within a certain range. The strong pressure on the Nifty at 11,377 points could not be overcome. On August 11, it touched this level but went down due to selling pressure. At the same time, the Nifty did not fall below 11,240 points. The Nifty traded within a tight range of 100-150 points. At the same time, there was a sharp fluctuation within this range.

The stock market was not affected by the stocks that led the market in the previous weeks. Last week, private banks and Reliance Industries led the market. At the same time, this week saw Reliance trading within a range. Shares of private banks were also seen selling. At the same time, investors were interested in buying shares of public sector banks. There was surge in L&T. This is a stock that did not have a significant share in the earlier market gains.

There was no significant reaction in the market to the news about COVID-19. The news that Russia has approved a vaccine of COVID-19 moved the market only for a day. The market also ignored news of an increase in the number of COVID-19 patients. The effects of the announcements made by the Reserve Bank of India last week did not continue this week.

The market is expected to move within a fixed range next week as well. Nifty will face pressure on 11,377. If it breaks through that point the next pressure level is at 11,550.  The market is supported at 11,000. If it plunges below that and goes down the next support is at 10,800. It is likely to trade between 11,000 and 11,377 next week. There must be some significant events if there needs to be any break through in this range. The availability of funds has kept the market afloat. The fluctuation is likely to continue next week.

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The stock market was dominated by bulls last week. On the first day of the week, the trend was very clear. The Nifty rose above 11,000 points and strengthened that level. The Nifty rose to 11,240 points last week.

At the same time, the market continued to fluctuate. The market fluctuated from high to low on some days
Reliance Industries was the market leader last week. It can be said that it was Reliance that pushed the market upwards. Shares of Reliance, which had risen sharply before the annual general body meeting, fell by about 10 per cent after the meeting. But since then, the stock has rebounded with unprecedented strength.

The news that Reliance is investing more in the retail sector has led to a fresh jump in the stock price. Each day saw the stock rising again to record levels. The highest price recorded on Friday was Rs 2,149.90. Shares of Reliance have risen 24 per cent in a month.
IT stocks also performed well. Shares of Infosys and Wipro hit 52-week highs last week.

Global indicators also helped the market. Vaccine trials for COVID are in the pipeline, giving the market a boost. On the one hand, despite the sharp increase in the number of COVID patients, the successful testing of the vaccine has given the stock market a boost. The good monsoon in India also helped the market.

Last week, it was pointed out that the next pressure point at Nifty after 10,800 is 11,300 points. The market is expected to trade between 11,000 and 11,300 next week. The market has entered the next stage of surge if it breaks through the severe pressure of 11,300.

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At the interbank forex market, the domestic unit opened on a strong note at Rs.74.79 against US dollar.

During the session, it touched an intra-day high of Rs.74.73 and a low of Rs.74.87 against the US dollar and finally settled at Rs.74.74, up 17 paise over its previous close.

It had settled at Rs.74.91 against the US dollar on Monday.

Forex traders said positive domestic equities, foreign fund inflows and hopes of a COVID-19 vaccine supported the rupee.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.03 per cent to 95.80.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 490.70 points higher at 37,909.69 and broader NSE Nifty rose 132.80 points to 11,155.00.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs.1,709.97 crore on Monday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 1.71 per cent to USD 44.02 per barrel.

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The share market started with a loss on the first day of the trading week. The Sensex lost 209 points and the Nifty 70 points on June 29.
The Sensex crashed to 34,662.06 during trading and closed at 34,961.52. Nifty crashed to 10,223.60 during trading; it closed at 10312.40.
Only 12 shares in the Nifty 50 Index made some profits today. Britania, HDFC Bank, Cipla, Kotak Mahindra and ITC are the five Nifty shares that registered the highest gains today. Britania gained more than 2 per cent.
Coal India, Axis Bank, Tech Mahindra, Hindalco and SBI are the five Nifty shares that registered the biggest losses. Coal India ended trading with 5 per cent loss.
Banking shares faced strong losses. RBLBank, Bank of Baroda and Axis Bank lost more than 4 per cent. At the same time, pharma shares defended the crash and up a strong fight today. Shares such as that of Cipla and Aurobindo Pharma registered profits today.

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The past week saw the stock market moving within a limit area. Even though the Nifty rose 10,553 points booking of profits was witnessed.
Banking stocks saw strong volatility but at the same time auto and IT sectors aided the market. More than a fight between the bulls and the bears, we can see availability of funds coming face to face with the drawbacks in the economy. As the bulls take the market forward, we see booking of profits in view of better global indications.
These days, the Indian market is following the lead of the US market. The unhindered rise in the number of COVID-19 patients and deaths in the United States in recent days led to the volatility in the markets.
The indications that there would be a heavy monsoon this year is aiding the domestic market. The heavy monsoon would lead to better output from the agriculture sector and the growth of the rural economy. The rural economy has been showing good signs of a revival. The demand from the rural sector has improved. At the same time, there is no respite from the fear of worsening COVID-19 situation globally and the number of COIVD patients rising domestically are negative factors.
There is a lot of pressure on the Nifty at 10,550 points. Even though the bulls have taken the market to 10,550 points, global pressure for selling it could not break this barrier
Nifty would be moving in the range of 9,500 and 10,550 in the coming week. It would be healthy for the economy to hold on to this range than a rapid rise owing to liquidity.
As the liquidity is strong it would take some more time for the market to take into account the basic factors. If the Nifty rises depending on the availability of funds, a negative news would lead to a crash in the market.

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There was no gain in the Mumbai stock market on June 25. Sensex lost 25 points and Nifty 16 points on the day. Even though there were gains in the morning, the fluctuations during the day was strong. The Sensex rose to 35,081.61, but it closed at 34,842.10. Nifty closed at 10,288.90 points.
Of the 50 Nifty index stocks only 16 made some profit on the day. ITC, Bajaj Finance, Kotak Mahindra and Gail were the five Nifty stocks that registered huge gains. ITC gained over 5 per cent.
The shares of Bajaj Finance jumped over 60 per cent in the past one month and the stocks are selling in the range of Rs.3,000 now.
Asians Paints, Hindalco, Indian Oil Corporation, Eicher Motors and HCL Tech are the five Nifty stocks that had registered the highest loses. Asians paints ended the trade at 5 per cent loss.
Banking shares saw huge losses on June 25. The Nifty private bank index saw 4 per cent loss. Pharma stocks too had selling pressure during the day.

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The much-awaited southwest monsoon is expected to reach the Kerala coast between June 1 and June 5 this year. The India Meteorological Department (IMD) has factored in a delay of four days and has said that the seasonal rains would arrive in the Kerala around June 5 with a model error of four days.
A rogue circulation, likely emerging midway off Somalia, is seen as throwing a spanner into the monsoon works.
However, a persisting circulation nearer home over the South-East Arabian Sea, off Kerala and over Lakshadweep, has been engaging the IMD’s attention for several days now.
Meanwhile, the monsoon pieces are falling right into place elsewhere over Maldives where all indications are that the rains may have established. The normal timeline of onset is mid-May. Scattered showers and few thunderstorms have been forecast for the country, to the South-West of Sri Lanka.

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