Commexes turnover up over 54% in October

Commexes turnover up over 54% in October

New Delhi: The turnover of the 23 commodity exchanges in the country rose by 54.31% to Rs9.89 lakh crore in October, buoyed by a surge in bullion trade, according to the Forward Markets Commission (FMC).

The turnover of the commexes stood at Rs6.40 trillion in the same period last year, data collated by the commodity markets regulator showed.

Among the four national bourses, the MCX’s turnover rose sharply by 57.46% to Rs8.47 trillion in October, which was almost 80% of the combined turnover of all 23 bourses. In October, 2009, MCX did business worth Rs5.38 lakh crore.

The turnover of the NCDEX, which mainly offers futures trading in agri-commodities, grew by 25% to Rs95,344 crore from Rs76,274 crore in the corresponding period last year.

But the turnover of the NMCE, the country’s third largest national commodity bourse, fell by more than 50% to Rs8,757 crore last month from Rs19,635 crore in October, 2009.

New entrant ICEX did business worth Rs30,700 crore last month.

The FMC said gold and silver trading volumes were significant last month and as a result, turnover from bullion trade jumped by 93% to 4.73 trillion in October from .45 lakh crore in the year-ago period.

Similarly, business from energy trade rose by 28 per cent to 1.87 lakh crore in October, 2010, from 1.46 lakh crore in October, 2009, while the turnover from trading of metals like copper rose marginally by 5.34 per cent to 2.21 trillion in the review period.

The turnover from agri-futures was Rs1,06,149 crore in October, 2010, as against Rs1,04,008 crore in the corresponding period last year, the FMC data showed.