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Comexes post 29% rise in futures' turnover

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NewsWire18 Mumbai
Last Updated : Jan 20 2013 | 12:03 AM IST

India’s commodity futures turnover from its three national and 17 regional exchanges during April 1-August 14 was Rs 24.25 lakh crore, up 28.87 per cent on year, according to a senior official at Forward Markets Commission. 

Turnover from August 1 to August 14 rose 32.63 per cent from a year ago to Rs 3.01 lakh crore, the official said, citing fortnightly data. 

MCX, National Commodity and Derivatives Exchange, and National Multi Commodity Exchange of India are the three national exchanges in the country. 

Exchange-wise turnover

The highlight of the period under review was the sharp rise in farm futures turnover as indicated by the jump in NCDEX’s earnings to Rs 51,300 crore. 

The exchange registered a hefty 71 per cent year-on-year rise in turnover during the fortnight under review, the FMC official said. 

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“The rise in NCDEX’s turnover can be attributed to heavy volumes and rally in farm commodities on the back of fears of drought in key farm-oriented states,” an exchange official said. For example, turmeric prices from August 1 to August 14 had more than doubled since last year. Volumes in turmeric were also high amid speculation of sharp drop in the spice’s kharif output and shortage of carryover stock, the exchange official said. 

The August 1-14 turnover of MCX, the country’s top exchange, rose 23 per cent on year to Rs 2.39 lakh crore, the FMC official said. 

NMCE’s volume during the above fortnight registered the highest jump of over 746 per cent on year to Rs 74.68 lakh crore. However, the rise came on a very small base of Rs 883 crore.
 

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First Published: Aug 25 2009 | 12:46 AM IST

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