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Commodity bourses post Rs9 trillion turnover

Commodity bourses post Rs9 trillion turnover
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First Published: Fri, Jul 13 2007. 05 38 PM IST
Updated: Fri, Jul 13 2007. 05 38 PM IST
New Delhi: Futures trading in the commodity exchanges reached Rs8,97,816 crore till June-end in the current financial year on the back of more participation in the non-agricultural commodities counters.
“Since the government has put a restriction on new agricultural commodities till it decides the issue of impact of futures trading on prices, the business has shifted to non-farm counters,” an analyst with a local commodity brokerage house said.
Releasing the fortnightly data of turnover, the Forward Markets Commission, the regulator for the commodity markets, said, “the value of trade during April-June period of this financial year is Rs8,97,816.52 crore.”
According to FMC, the turnover of three national-level and 20 regional exchanges during the second fortnight of last month declined by 12.62% to Rs1,31,754.09 crore from Rs1,50,796.26 crore in 1-15 June this year.
The trading at leading commodity exchange MCX was hit in the second fortnight as its turnover dipped by about 12% to Rs97,897.36 crore from over Rs1,00,000 crore in the previous fortnight.
At MCX, copper trading recorded a record Rs22,622.61 crore, surpassing gold which stood at Rs20,397.97 crore in the 16-30 June period. Other contracts that attracted major business were silver, crude oil, zinc, nickel, natural gas and aluminium.
The turnover at leading agri-commodity exchange NCDEX too slid to Rs28,627 crore from Rs33,501 crore in the fortnightly review period.
However, the trading at Ahmedabad-based national exchange NMCE improved in the second fortnight of June to Rs671 crore from Rs658 crore in the previous fortnight.
Interestingly, the turnover of some of the regional commodity exchanges were higher than the value of trade at NMCE during 16-30 June.
The turnover of 20 regional exchanges recorded at Rs4,558.56 crore led by Indore-based National Board of Trade with Rs2,894.08 crore and followed by Hapur’s Chamber of Commerce which posted a business of Rs 876.52 crore in the fortnight.
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First Published: Fri, Jul 13 2007. 05 38 PM IST
More Topics: Commodity exchange | MCX | NCDEX | bullion | Home |