India Apr-Dec commodity derivatives trade up 50%
Turnover at Indian commodity bourses rose 50% to Rs 82.70 lakh crore (USD 1.83 trillion) in the first three quaters to December on surging volumes on bullion and metal counters, data from the regulator showed.
January 15, 2011 / 15:15 IST
Turnover at Indian commodity bourses rose 50% to Rs 82.70 lakh crore (USD 1.83 trillion) in the first three quaters to December on surging volumes on bullion and metal counters, data from the regulator showed.
The total value of trade for bullion jumped 69.89% to Rs 37.54 lakh crore in April-Dec period, while for metals it surged 64.41% to Rs 19.37 lakh crore.Volumes in agri-commodities rose by a mere 7.48% to Rs 9.69 lakh crore, the Forward Markets Commission said.India as of now has five commodity bourses - National Commodity and Derivatives Exchange (NCDEX), Multi-Commodity Exchange (MCX), National Multi-Commodity Exchange, and Indian Commodity Exchange, ACE Derivatives and Commodity Exchange, - which operate at the national level. India, which allowed futures trading in commodities in 2003, has one of the fastest growing commodity futures markets and had a combined turnover of Rs 77.65 lakh crore in the 2009/10 fiscal year ending March.India is the biggest buyer of bullion and second-largest wheat and rice producing nation. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
