On your mark, get set...

The euphoria surrounding the launch of the new equity exchange—MCX-SX — has subsided as data shows market participants have stuck to the established bourses to execute their trades. The average daily trading turnover for MCX-SX in the first seven trading sessions was just Rs 33 lakh. A comparison with the first seven days of NSE's trading shows it too had a humble beginning with average daily turnover of Rs 7 crore. BSE, which was an established bourse during that period, had an average daily turnover of Rs 187 crore during 1994-95. Market watchers believe MCX-SX faces an uphill task, going ahead, of catching up with its counterparts. A lot will depend on whether the new incentive scheme announced by MCX-SX lures brokers and investors towards it platform. (Click on graphics)