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| Comexes' April-Sept turnover jumps 29.91% |
| Press Trust Of India / New Delhi Oct 23, 2009, 00:39 IST |
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Futures trading in farm commodities has boosted business at 22 commodity exchanges as the combined turnover of these bourses has shot up by 29.91 per cent to Rs 33,63,845 crore till September this financial year, the Forward Markets Commission (FMC) said.
The turnover of the exchanges stood at Rs 25,89,289 crore in the year-ago period, it said.
In the first six months of the current financial year, the business from agri-futures increased by 60.70 per cent at Rs 526,999 crore, due to the removal of ban on a few agri items, commodity market regulator FMC said in its report.
Similarly, business from other commodities such as energy futures also rose by a whopping 77 per cent to Rs 15,78,649 crore in the review period, it said.
However, bullion took a beating due to market volatility. Its turnover at the exchanges slipped by 8.18 per cent to Rs 12,58,196 crore during April-September from Rs 13,70,328 in the same period last year, the report noted.
FMC, which releases a fortnightly report, also highlighted that the total turnover of the three national exchanges and 19 regional exchanges jumped marginally by 5.44 per cent to Rs 298,791 crore during September 16-30.
In the second fortnight of September, the turnover of the leading exchange MCX stood at Rs 262,170 crore, while the leading agri-commodity bourse NCDEX recorded a business of Rs 24,731 crore. Other national level exchanges, Ahmedabad-based NMCE registered a turnover of Rs 8,780 crore, the report said.
Among the regional bourses, Indore-based National Board of Trade made business of Rs 2,042 crore. Of the traded commodities at the MCX, gold, crude oil and silver recorded the highest volume according to the FMC data.
The near-month contract (October 2009) in gold quoted its highest at Rs 16,009 per 10 gm on September 16 and the total value of trade in all gold contracts stood at Rs 70,252 crore. Crude oil turnover on the MCX stood at Rs 46,843 crore while silver trading was at Rs 51,653 crore.
At the NCDEX, guarseed trading surpassed chana with a turnover of Rs 7,625 crore, which recorded a business of Rs 2,687 crore.
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