Commexes target Rs 25 lakh cr trade
Trading on India’s commodity exchanges (commexes) in the current fiscal is expected to touch Rs 25 lakh crore by December.
By Nidhi Nath Srinivas, TNN |
NEW DELHI: Trading on India’s commodity exchanges (commexes) in the current fiscal is expected to touch Rs 25 lakh crore by December. In the first two weeks of November, Indian punters have bought and sold Rs 1.56 lakh-crore-worth of metals, bullion, farm crops and energy. There are 24 commexes in the country, including the three national exchanges.
To put that number in perspective, derivatives trading on NSE is worth an average Rs 2.5 lakh crore every fortnight or Rs 5 lakh crore a month.
According to official data collated by the Forward Markets Commission, the total value of trading on commexes between November 1-15 was Rs 156,497.43 crore. The value of trade since April 1, 2006 to November 15, 2006 for fiscal ‘06-07 was Rs 23, 44,399.08 crore.
Between November 1-15, the buzz across the country was mainly around bullion, copper, chana, guarseed and pepper. These commodities attracted the highest volumes of business on several exchanges. On MCX, gold, silver and copper were prime favourites. In gold, during the fortnight the total value of trading in all varieties was Rs 40,901.97 crore.
The net open position in the near month contract was at its highest at 13, 449 kg on November 1. In silver, the total value of trade in all varieties was Rs 23,405.96 crore.
The net open position in the near month contract was at its highest at 3,06,930 kg on November 9. In copper, the total value of trade was Rs 14,229.12 crore. The net open position in the near-month contract was at its highest at 25,249 tonne on November 10.
On National Multi Commodity Exchange (Ahmedabad), pepper, guar seed and chana had the highest volumes of trade. In pepper, the total value of contracts traded during the fortnight was Rs 653.24 crore. The net open position in the near month contract was at its highest at 351 tonne on November 10.
In guar seed, the total value of contracts traded during the fortnight was Rs 426.18 crore. The net open position in the near month contract was highest at 1,970 tonne on November 1. In chana, the total value of the contracts traded was Rs 327 crore. The net open position in the near month contract was highest at 6,100 tonne on November 1.
On NCDEX, chana, guar seed and gold had the highest volumes of trade. In chana, during the fortnight the total value of trade was Rs 1,01,55.307 cr. The net open position in the near month contract was at its highest at 32,800 tonne on November 1.
In guarseed, the total value of trade was Rs 8,696.017 crore. The net open position in the near month contract was at its highest at 25,660 tonne on November 1. In gold, during the fortnight the total value of trade was Rs 4,069.975 crore.
To put that number in perspective, derivatives trading on NSE is worth an average Rs 2.5 lakh crore every fortnight or Rs 5 lakh crore a month.
According to official data collated by the Forward Markets Commission, the total value of trading on commexes between November 1-15 was Rs 156,497.43 crore. The value of trade since April 1, 2006 to November 15, 2006 for fiscal ‘06-07 was Rs 23, 44,399.08 crore.
Between November 1-15, the buzz across the country was mainly around bullion, copper, chana, guarseed and pepper. These commodities attracted the highest volumes of business on several exchanges. On MCX, gold, silver and copper were prime favourites. In gold, during the fortnight the total value of trading in all varieties was Rs 40,901.97 crore.
The net open position in the near month contract was at its highest at 13, 449 kg on November 1. In silver, the total value of trade in all varieties was Rs 23,405.96 crore.
The net open position in the near month contract was at its highest at 3,06,930 kg on November 9. In copper, the total value of trade was Rs 14,229.12 crore. The net open position in the near-month contract was at its highest at 25,249 tonne on November 10.
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On National Multi Commodity Exchange (Ahmedabad), pepper, guar seed and chana had the highest volumes of trade. In pepper, the total value of contracts traded during the fortnight was Rs 653.24 crore. The net open position in the near month contract was at its highest at 351 tonne on November 10.
In guar seed, the total value of contracts traded during the fortnight was Rs 426.18 crore. The net open position in the near month contract was highest at 1,970 tonne on November 1. In chana, the total value of the contracts traded was Rs 327 crore. The net open position in the near month contract was highest at 6,100 tonne on November 1.
On NCDEX, chana, guar seed and gold had the highest volumes of trade. In chana, during the fortnight the total value of trade was Rs 1,01,55.307 cr. The net open position in the near month contract was at its highest at 32,800 tonne on November 1.
In guarseed, the total value of trade was Rs 8,696.017 crore. The net open position in the near month contract was at its highest at 25,660 tonne on November 1. In gold, during the fortnight the total value of trade was Rs 4,069.975 crore.
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