Otcei Volume At Rs 65.19 Crore

The Over The Counter Exchange of India (OTCEI) has clocked a record volume of Rs 65.19 crore till now this month which is the largest volume since its inception in 1992.

The previous highest volume for a single month was Rs 52.4 crore recorded in Nov 1994. With one more day to go before the month ends, officials feel that the turnover for the entire month could be around Rs 70 crore.

OTCEI managing director M Pushpangadan says, It is a significant achievement considering the fact that the exchange had recorded a turnover of only Rs 54 crore during the period from April to August this year.

The exchange completed 5 years of trading yesterday. The permitted securities segment recorded a turnover of Rs 3.81 crore which is again a new high for the segment on any given day.

Last week, on Friday, the exchange recorded its highest ever daily turnover of Rs 10.98 cr surpassing the previous highest of Rs 7.86 cr on Nov 30, 1994.

The enthusiasm witnessed in the permitted segment seems to be slowly trickling down to the listed segment. Yesterday, the listed segment recorded a turnover of Rs 2.73 crore which is about 5.5 times the average daily turnover of Rs 50 lakh for the segment.

The number of dealers in the permitted segment have gone up from 12 to 22. Top OTC officials said that another 38 V-Sats are expected to be commissioned by the end of October which would mean about 4 to 5 dealers joining this segment every week.

Also, 76 out the 100 scrips in the permitted segment have witnessed trading in the last three weeks. OTC officials said that the OTC-40 index would be finalised once all the 100 scrips see trading activity.