MCX attains highest market share since Oct 2013

Tags: Stock Market
Commodity Exchange MCX today said it has achieved the highest market share of 83.4 per cent during the first fortnight of August since the collective impact of a payment crisis at National Spot Exchange Ltd and the Commodity Transaction Tax (CTT) hit the bourse in 2013.

While MCX market stood at 86 per cent during the July- September 2013 quarter, at a time when these two factors were playing out, there was a dip thereafter, culminating into a 78.4 per cent market share during the latter half of 2013-14.

However, MCX's market share held steady at above 80 per cent beginning April 2014 and clocked a high of 83.4 per cent by the first fortnight of August 2014, an MCX statement said.

The bourse, meanwhile, maintained its market share in non- agricultural commodities above 99 per cent since Q2 2013-14.

Earlier, the August 2014 Gold kg contract traded on MCX witnessed physical delivery of 1,110 kg, the highest volume delivered in the gold kg contract during the last one year. In terms of value, this translates into more than Rs 300 crore of delivered quantity.

The market seems buoyant at these developments. "Confidence of participants in the commodity markets and the institutions is returning. No doubt the continuous effort of the Exchange's management during the tough phase has been a key factor," Religare Securities President, Jayant Manglik said.

P K Singhal, Executive Vice President of MCX said, "We are grateful to the market participants, particularly hedgers, for continuing to repose their faith in MCX".

Having commenced operations on November 10, 2003, MCX is India's first listed, national-level, electronic, commodity futures exchange.

EDITORIAL OF THE DAY

  • No ifs and buts, please, in India’s engagement with Iran

    Some foreign policy purveyors in this country have for long insisted that India does not leverage its civilisational connections as it should or is ca

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture