Multi Commodity Exchange drops after block share sale
Reuters: Mar 08 2013, 17:49 IST
Multi Commodity Exchange of India (MCX) shares fall 4.7 percent after 1.02 million shares changed hands on the BSE at 1,026 rupees a share earlier in the day.
* Dealers say share sales are expected given the one-year lock-in period for pre-initial public offering investors ended on Thursday.
* India's largest commodity bourse listed on the BSE on March 9, 2012.
* Sources with direct knowledge tell Reuters that NYSE Euronext was not the seller in the block deal on Friday.
* NYSE Euronext called off its plan to raise up to $46 million by selling its 4.8 percent stake in MCX, two sources with direct knowledge of the development said on Thursday.
* A budget proposal to levy a commodity transaction tax on non-agricultural commodity contracts from April 1 is also seen hurting the sentiment.
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