Motilal Oswal Wealth Management organizes KamaoDity Summit 2024 inKolkata
Motilal Oswalcommodities business in the Eastern Region grew by more than 50% over the pastyear
Kolkata, 2nd December 2024: Motilal Oswal Financial Services Ltd. (MOFSL) hosted the highlyanticipated “Kamaodity Summit 2024” in Kolkata, bringing together industryleaders, experts, and investors to explore the evolving dynamics of commodityderivative markets. The full-day seminar provided insightful discussions on thegrowth, opportunities, and strategies in the commodity space.
The summit deep dived on commodity asset led themes such as ‘MCX- ThePromising Business Growth’, Business Beyond 3PM, Actionable Strategies,Commodity Ecosystem at Motilal Oswal followed by a strategic panel discussionon key trends and opportunities in the commodities market. Among the leaderspresent in the summit were Mr. Navneet Damani, Head- Commodities Research,Wealth Management, Motilal Oswal Financial Services Limited, Mr. Kishore Narne,Executive Director, Wealth Management, Motilal Oswal Financial ServicesLimited, Mr. Gaurav Kaushik, Regional Head, East Business Development, MCX,along with the Financial Coach Mr. Hitesh Mali.
2024 has been a volatile yearfor commodities. Gold and silver surged over 35% by October, driven by geopoliticaltensions, rate cut expectations, and a weaker Dollar Index. However, DonaldTrump''s election victory boosted risk assets, slowed rate cut momentum, andstrengthened the Dollar Index, pressuring bullion prices.
Crude oil remained range-bound, influenced by geopolitical tensions andshifting OPEC+ forecasts, which projected a surplus for 2024-25. Industrialmetals faced challenges due to weak support from China, though zincoutperformed on supply concerns. Market hopes hinge on China''s recovery torevive metal demand.
Mr. Kishore Narne, Executive Director - Head - Commodity & Currency,Motilal Oswal Financial Services said, “At MOFSL, we believe in high quality and high growth, and the boost inthe commodities business is a testament of that. Among the other regions intowhich MOFSL has recently expanded, the East has played a critical role indriving business growth. As the market turnover continues to risedaily and volume of options trading increasing rapidly, we aim to doubleour workforce in commodities business in the region by FY 26.”
In his session. Mr. Narne highlightedthe remarkable expansion of India’s commodity derivative markets over recentyears. He emphasized their critical role in supporting the growth of India’smanufacturing sector. Mr. Narne also elaborated on how commodities such as goldand silver enable investors to diversify their portfolios, mitigating risks involatile and uncertain market conditions.
Motilal Oswal FinancialServices Limited (MOFSL) identifies the eastern region, including West Bengal,Odisha, Bihar, and Jharkhand, as a key market. Over the past year, thecommodities business in this region grew by more than 50%, prompting MOFSL toestablish a dedicated regional team of Advisors and Business DevelopmentManagers in these states. The company plans to double this team within the nextyear to meet growing demand and ensure high-quality client service.
Overall, Motilal OswalFinancial Services Limited (MOFSL) has witnessed exponential growth in itscommodities derivatives business, with the average daily turnover increasing by70% over the past year. Additionally, its Unified Client Code (UCC) has grown13-fold in the last five years. Given the high influx, the brand is planning todouble its workforce for the commodities business by FY26 to meet growingdemand while maintaining high-quality client service.
Mr. Navneet Damani, Senior Group Vice President - HeadCommodity & Currency Research, Motilal Oswal Financial Services said, “The KomaoDity Summit is a step to createthe desired awareness of commodities led asset in eastern region while buildinga knowledge first ecosystem for our investors and partners. The commoditiesbusiness offer an unprecedented opportunity. However, right guidance andstrategies are required for growth in the sector. Initiatives like KamaoditySummit help in expanding the knowledge horizon while discussing on powerfulactionable strategies that can boost the market growth further.”
In his session, Mr. Damanishared valuable strategies and techniques for trading in commodity derivatives.He provided an overview of 2024’s commodity market trends, noting the surge ingold and silver prices—up over 35% by October—driven by geopolitical tensions,rate cut expectations, and a weakening Dollar Index. However, he explained howthe recent victory of Donald Trump in the U.S. elections shifted marketsentiment, strengthening the Dollar Index, pressuring bullion prices, andslowing the rate cut momentum.
Discussing crude oil, Mr.Damani pointed out its range-bound performance, influenced by geopolitical developmentsand shifting OPEC+ production forecasts projecting a surplus for 2024–25.Industrial metals faced headwinds from weaker-than-expected support from China,though zinc emerged as an outlier due to supply concerns. He concluded byexpressing optimism that China’s economic recovery could rejuvenate globalmetal demand.
MOFSL boasts the largest teamin the industry, with over 600 professionals dedicated exclusively to thecommodities segment. The brand also recently announced its plans to expand its footprintin the East, where Motilal Oswal Wealth Management will be adding 354 newbusiness partners by March 2025. The goal is to increase the number ofcommodity manpower aggressively to serve the increased number of clients in theregion
The “Kamaodity Summit 2024” underscored Motilal Oswal’s commitment toempowering investors with knowledge and strategies to navigate the complexitiesof the commodity markets effectively.
About Motilal Oswal Financial ServicesLimited:
MOFSL is a financial services company. Its offeringsinclude Wealth Management, Capital Markets (Institutional broking &Investment banking), Asset & Wealth Management (Asset Management, PrivateEquity & Wealth Management), Housing Finance & Equity based treasuryinvestments. MOFSL employs 12,500+ employees serving to approx 4M customers viadistribution reach in 550+ cities. MOFSL has Assets Under Advice of Rs. 5.0Lakh Crores.
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