Multi Commodity Exchange registered the highest market share of 83 per cent in the first fortnight of August. Of the total turnover of Rs 2,34,756 crore logged by the five online commodity exchanges in the first fortnight of August, MCX garnered a turnover of Rs 1,95,206 crore.
The exchange witnessed the highest physical gold delivery of 1,110 kg worth Rs 300 crore in its August contract.
MCX is inching closer to its peak market share of 86 per cent registered in the September quarter last year before the Government levied commodities transaction tax on the trade executed on exchanges.
This apart, the settlement default of Rs 5,600-crore by National Spot Exchange, a group company of MCX, hit investors’ sentiments and the turnover on commodity exchanges fell sharply.
Jayant Manglik, President, Religare Securities, said the confidence of participants in the commodity markets and the institutions is returning. The continuous effort of the MCX management during the tough phase was also a key factor, he said.
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