Commodity bourses buck the trend with 34 per cent rise in April-January turnover

Commodity exchanges in the country put up a sterling performance with a 34 per cent surge in the combined turnover at Rs39,19,844 crore till 15 January in the current financial year as against Rs29,27,177 crore during the same period a year ago.

For the period 1 to 15 January, turnover at the country's three major bourses and 19 regional exchanges stood at Rs2,35,048 crore, up 11.78 per cent over the year-ago period, according to commodity market regulator Forward Markets Commission (FMC).

For the fortnight ended 15 January, MCX reported a turnover of Rs2,07,272 crore, while NCDEX posted business of Rs21,484 crore and the NMCE recorded a turnover of Rs2,375 crore.

Indore-based National Board of Trade, a regional bourse, also showed an impressive turnover of Rs3,097 crore in the first fortnight of January.

Among the traded commodities at MCX, the country's largest commodity exchange, gold, crude oil and silver recorded the highest volumes.

The total value of all gold contracts traded on MCX was Rs97,664 crore, while the near month contract (February) in gold was quoted at its highest at Rs13,784 per 10 gm on 15 January. Turnover of crude oil was Rs43,597 crore while volume of silver stood at Rs35,202 crore.

At NCDEX, soybean trading recorded a turnover of Rs5,251 crore while guarseed business totalled Rs2,870 crore.

NCDEX, meanwhile, deferred a decision on implementing new transaction rates, after the Bombay High Court dismissed the petition filed the exchange.

The Forward Markets Commission had, on 28 January, issued a letter directing the exchange to keep implementation of the new rated in abeyance, NCDEX said.

The exchange had sought a stay on the FMC  directive, which, however, has declined the same, the NCDEX said.