Commexes post 43% volume jump in January
Commodity exchanges in the country recorded a total business of Rs 210,276 crore in futures segment during the first 15 days of the new year, up 43%, compared to the same period last year.
By PTI |
NEW DELHI: Commodity exchanges in the country recorded a total business of Rs 210,276 crore in futures segment during the first 15 days of the new year, up 43%, compared to the same period last year.
As per the data released by commodity market regulator Forward Markets Commission, turnover of leading commodity exchange MCX stood at Rs 169,572.9 crore, while agri-commodity bourse NCDEX recorded a business of Rs 32,682.4 crore during the period.
Ahmedabad-based NMCE registered a turnover of Rs 633.7 crore. Among the regional bourses, Indore-based National Board of Trade, which basically deal in soya oil, recorded a turnover of Rs 4,994.6 crore.
During the financial year so far, the 23 exchanges in the country have registered a 1.4% increase in futures trading at Rs 29,27,177.4 crore as against Rs 28,86,613.9 crore in the same period previous year.
The turnover of commexes is expected to grow further as the government has approved the promulgation of an ordinance amending the Forward Contracts (Regulation) Act, 1952.
“The new law will not only strengthen the powers of FMC on par with Sebi in terms of regulatory authorities, but will also give a boost to the market which has a potential to touch Rs 1 trillion by 2010,” FMC chairman BC Khatua claimed.
Karvy Comtrade, research head, Harish G said: “Ordinance will have positive impact on commodity bourses. It would increase volumes and liquidity in the market.”
During the first fortnight of new year, gold, silver and crude oil recorded the highest volume of trade at MCX, according to FMC, which releases the trade data every fortnight.
At NCDEX, pepper, rubber and sack had the highest volumes of trade. Pepper trading surpassed the rubber with a turnover of Rs 307.8 crore. Rubber recorded a business of Rs 164.5 crore.
As per the data released by commodity market regulator Forward Markets Commission, turnover of leading commodity exchange MCX stood at Rs 169,572.9 crore, while agri-commodity bourse NCDEX recorded a business of Rs 32,682.4 crore during the period.
Ahmedabad-based NMCE registered a turnover of Rs 633.7 crore. Among the regional bourses, Indore-based National Board of Trade, which basically deal in soya oil, recorded a turnover of Rs 4,994.6 crore.
During the financial year so far, the 23 exchanges in the country have registered a 1.4% increase in futures trading at Rs 29,27,177.4 crore as against Rs 28,86,613.9 crore in the same period previous year.
The turnover of commexes is expected to grow further as the government has approved the promulgation of an ordinance amending the Forward Contracts (Regulation) Act, 1952.
“The new law will not only strengthen the powers of FMC on par with Sebi in terms of regulatory authorities, but will also give a boost to the market which has a potential to touch Rs 1 trillion by 2010,” FMC chairman BC Khatua claimed.
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Karvy Comtrade, research head, Harish G said: “Ordinance will have positive impact on commodity bourses. It would increase volumes and liquidity in the market.”
During the first fortnight of new year, gold, silver and crude oil recorded the highest volume of trade at MCX, according to FMC, which releases the trade data every fortnight.
At NCDEX, pepper, rubber and sack had the highest volumes of trade. Pepper trading surpassed the rubber with a turnover of Rs 307.8 crore. Rubber recorded a business of Rs 164.5 crore.
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