Financial Technologies-promoted National Spot Exchange (NSEL) has recorded phenomenal growth in turnover of e-Series contracts in the first 21 days of 2011.
The turnover of NSEL’s four e-Series products viz. e-Gold, e-Silver, e-Copper and e-Zinc between January 1- 21, 2011 exceeded the average monthly turnover recorded by these products last year. NSEL had launched e-Series products in 2010, starting with e-Gold in March, to meet the growing demand among retails investors to invest part of their savings in commodities. It added e-Silver in April, e-Copper in November and e-Zinc in January 2011.
Turnover of e-Series products increased from a mere Rs 198 crore in September 2010 to a whopping Rs 9,268 crore in January 2011. Moreover, NSEL recorded the highest daily turnover of Rs 1,358.84 crore for its e-Series products on January 21, 2011 with e-Gold witnessing the highest turnover of Rs 23,068.25 lakh on 19th Jan 2011 and e-Silver seeing the highest turnover of Rs 1, 00,824.76 lakh on Jan 21, 2011.
NSEL’s e-Series had also ended 2010 with very attractive return on investment (RoI) and turnover figures. Last year, e–Series not only surpassed the returns of many other investment products but also witnessed a huge increase in turnover.
In 2010, while equities as a measure of Nifty, gave returns of only 17.30 per cent and some popular Gold ETFs gave around 21-22 per cent, in comparison e-Gold gave a return of more than 21 per cent over a period of 10 months and e-Silver more than 62 per cent in 9 months. Launched in November 2010, e-Copper also did not lag behind, giving a return of 22 per cent in just 3 months.
NSEL recorded an average increase of 200 per cent per month in its turnover during the last four months of 2010 and an average daily turnover of Rs 568.62 crore in Jan ‘11. The number of trades in e-Series also increased from around 25,000 in August 2010 to over 2.2 lakhs in January 2011 (till January 21).
| Monthly turnover of e-Series (Rs lakh) | |||||
| Date | E-Copper | E-Gold | E-Silver | E-Zinc | Total |
| Sep ’10 | -- | 9823.27 | 9977.99 | -- | 19801.26 |
| Oct ’10 | -- | 19938.17 | 45996.76 | -- | 65934.93 |
| Nov ’10 | -- | 50702.90 | 44436.67 | 124413.67 | 219553.25 |
| Dec ’10 | 112161.7 | 138788.49 | 315418.71 |
--
| 566368.9 |
| Jan ’11 (till Jan 20) | 144429.18 | 152010.7 | 583787.9 | 46661.15 | 926888.9 |
| Grand total | 307293.81 | 364997.32 | 1079595.02 | 46661.15 | 1798547.3 |
| Note: Turnover of e-Zinc has not been included as it was launched only on January 14, 2011 | |||||
