Aided by a sharp run-up in bullion and crude oil prices, MCX has registered an increase of 12 per cent in the September quarter at ₹15.77 lakh crore against ₹14.06 lakh crore logged in the same period last year.

Trading volume in September alone was up 16 per cent at ₹5.47 lakh crore (₹4.72 lakh crore) with traders rushing to hedge their position due to sharp depreciation in rupee pushing up gold and crude oil prices.

Bullion, energy

Last month, the bullion turnover on MCX was up three per cent to ₹1.34 lakh crore (₹1.30 lakh crore) due to rupee depreciation even as lack of volatility in the prices of yellow metal pulled down the turnover by 14 per cent in the September quarter to ₹3.49 lakh crore (₹4.06 lakh crore).

Futures trading in energy — which includes crude oil and natural gas — was up 34 per cent in September at ₹1.80 lakh crore (₹1.34 lakh crore), while it increased 18 per cent to ₹5.10 lakh crore (₹4.31 lakh crore).

Base metal turnover in the September quarter was up 28 per cent to ₹6.93 lakh crore as volatile prices pushed traders to hedge their risk.

Abhishek Bansal, Founder and Chairman, ABans Group, said gold prices in India are up by almost 8.20 per cent compared to last year even as international gold prices hit a 6-week low as US Federal Reserve hiked rates by 25 bps.

Gold imports are getting costlier due to Indian rupee falling by almost 11 per cent against US dollar, he added.

NCDEX turnover up 9%

The turnover on NCDEX too was up nine per cent for the quarter at ₹1.57 lakh crore (₹1.44 lakh crore). However, month-wise, it was down 24 per cent at ₹38,248 crore (₹50,574 crore) due to a sharp fall in edible oil prices and drop in edible oil imports.

Ajay Kumar, Director, Kedia Commodities, said besides fall in edible oil prices, other agri-commodities too were in a bearish phase due to beginning of arrival season.

Futures trading in agriculture commodities was weak due to lack of volatility in prices, he added.

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