A surge in bullion and energy turnover has helped the country's largest commodities bourse Multi Commodity Exchange (MCX) further strengthen its market leadership, achieving a record market share of 94.01 per cent in 2019-20.
The spike in market share can be attributed to the launch of more products on the MCX platform during the year. The market share of the exchange had stood at 91.58 per cent in 2018-19.
The other three exchanges -- the BSE, NSE and the ICX, which primarily deals only in bullion -- together enjoy 6 per cent of the market, with the BSE leading among them.
The overall turnover in futures trading rose 27.40 per cent to Rs 83.97 lakh crore in the just-concluded fiscal year, according to the exchange data.
In the financial year 2019-20, the average daily turnover of futures trading on the bourse was Rs 32,423 crore, an increase from Rs 25,647 crore in 2018-19, or a growth of 26.42 per cent.
According to the latest data available on the exchange website, bullion turnover almost doubled in the year, to be precise, grew 92.59 per cent over the previous year, and energy turnover grew 55.58 per cent.
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The turnover in bullion contracts was pegged at Rs 29,15,532 crore in the just-concluded fiscal, an increase from Rs 15,13,817 crore in 2018-19.
The exchange also recorded its highest daily bullion derivatives turnover at Rs 35,112.36 crore on March 16, after the levy of the commodities transaction tax in July 2013.
The newly-designed one-gram gold futures contract saw successful delivery of 8,090 coins since November 2019, the exchange said.
Turnover in the energy contracts surged to Rs 38,13,027 crore from Rs 24,50,777 crore in 2018-19, while that of base metals plunged to Rs 15,68,294 crore from Rs 25,25,601 crore in 2018-19 even though in terms of absolute volume, the total quantity of base metals delivery stood at 74,206 million tonne through the exchange mechanism.
The steep fall in value could be attributed to the falling prices of the commodity.
Agri futures turnover marginally slipped to Rs 1,00,919 crore from Rs 1,01,232 crore in 2018-19.
In the reporting financial year, the exchange successfully completed physical deliveries of 24,924 million tonne of aluminium, 18,777 million tonne of copper, 4,993 million tonne of lead, 1,114 million tonne of nickel and 24,397 million tonne of zinc on the exchange platform, show the exchange data.
The MCX counter gained 2.3 per cent to Rs 1,009.90 on the BSE whose benchmark Sensex rallied close to 9 per cent on reports of some respite in COVID-19 infections across the globe.
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