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Rally in equity moves traders out of commodity futures

Daily average turnover of MCX and NCDEX declines by 33% and 46% respectively since July '16

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Stock broker looking at screen outside the Bombay Stock Exchange

Dilip Kumar Jha Mumbai
Lured by a sharp rally in the benchmark sensitive index (Sensex), a large number of traders have squared off their position in the commodity market and invested their earnings in shares to take a pie of growing equity markets. Consequently, the volume and turnover in commodity futures exchanges declined sharply over the last one year with a proportionate gain in equity markets.

The benchmark daily average turnover (DAT) on India's largest commodity exchange the Multi Commodity Exchange (MCX) declined by a staggering 33 per cent over the last one year. From the level of Rs 27,443 crore, the

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