Commexes' turnover dips by 43% during Aug 1-15

Exchanges had done business worth Rs 6,19,730 cr in the Aug 1-15 period last year: FMC

The turnover of commodity bourses has fallen by 43% to Rs 3,52,873 crore in the first 15 days of last month.

 

The exchanges had done business worth Rs 6,19,730 crore in the August 1-15 period last year, according to the Forward Markets Commission (FMC).

 

The turnover at MCX -- which has more than 80% market share in the commodity futures market -- fell by 40% to Rs 3,07,704 crore as against Rs 5,17,020 crore in the year-ago period.

 

Turnover of the country's second biggest commodity bourse NCDEX also declined by 57% to Rs 35,479 crore in the August 1-15 period from Rs 82,674 crore in the same period last year.

 

Besides these two bourses, all other major exchanges have also witnessed fall in the turnover in the period under review, as per the FMC data.

 

Last month, the Commission made a special margin of 10% applicable on the short side on all running contracts and yet to be launched contracts in turmeric at all the national exchanges with effect from August 6, 2013.

 

The turnover of all the 22 commodity bourses stood at Rs 4,75,325 crore during the July 16-30 period of this year.

 

Turnover of commodity exchanges had dropped 41% to Rs 8,83,765 crore in July, mainly on account of the imposition of commodity transaction tax (CTT) and a sharp dip in prices.