CPSE ETF debuts; surges over 10%

MUMBAI: Shares of the CPSE Exchange Traded Fund ( ETF) rose by over 10 per cent on the first day of trade today.

The shares of Goldman Sachs Mutual Fund- CPSE ETF opened the day on a positive note and further gained 10.31 per cent to Rs 19.25, against its issue price of Rs 17.45 at the NSE.

The CPSE ETF opened at Rs 18 and touched a high of Rs 19.25 so far.

More than six crore shares of the company changed hands at the NSE during the morning trade.

The CPSE ETF basket consists of shares of 10 PSUs and provides an opportunity for investors to become shareholders of Oil & Natural Gas Corp, GAIL India, Coal India, Indian Oil, Oil India, Power Finance Corp, Rural Electrification Corp, Container Corp, Engineers India and Bharat Electronics.

An ETF is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.