The Hindu Business Line : Top 3 commodity bourses H1 turnover up by 30%

NEW DELHI: The turnover of the top three national level commodity bourses - MCX, NCDEX and NMCE - has shot up by 30 per cent to over Rs 33 lakh crore in the first half of this fiscal on the back of renewed participation from the investors and re-launch o f a few agri-commodities.

The turnover of MCX, NCDEX and NMCE was Rs 25,63,757 crore in the year-ago period, according to data from market regulator FMC. Of the total combined turnover, share of MCX, country's largest commodity exchange - was about 85 per cent.

Analysts attributed the surge in turnover to increased participation from the investors in the market with signs of revival in the global economy and also to lifting of ban on trading of agri-items like wheat, chana, soyaoil and rubber.

“The participation in comexes has risen as recession started slowly fading in the international market. The trading volume at the three exchanges has increased sharply after the slight consolidation during 2008-end,” Kochi-based commodity brokerage firm JRG Wealth Vice President Harish G said. Expressing similar views, brokerage firm SMC Global Chairman and Managing Director D K Aggarwal said: “The turnover of the exchanges have increased because of the renewed interest in the commodity futures market i n the last six months.”

Besides, he said re-launch of some banned agri-products has receded fear in the investors community. Turnover of MCX stood highest among the three bourses at Rs 28,38,399 crore till September this fiscal, up by 27 per cent from the same period last year. - PTI

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