Turnover of Commodity Exchanges declined by 69% to Rs 4.64 lakh crore in April of this year in the amount of slow trades in most commodities, the Forward Markets Commission (FMC) said.
Their business stood at Rs 14.77 lakh during the same month in the relevant year. Maximum fall was noted in bullions, followed by goods of energy, base metals and agri commodities, commodity markets regulator FMC said that the latest release of their data.
Business volume bullion down over 76 percent to Rs 1.68 lakh crore in April this year, compared to Rs 7.15 lakh rupees in the previous year, data showed FMC.
The stock business energy goods as crude oil fell by over 70 percent to Rs 1.04 lakh rupees from Rs 3.5 lakh rupees, whereas the business volume of the metals was reduced by 64 percent to Rs 95.195 million rupees from Rs 2.63 lakh million Rupees in the revision period.
Likewise the turnover in agricultural commodities declined by 35 percent to Rs 96.167 million rupees in April this year, from Rs 1.48 lakh million rupees in the same month of last year.
The researchers said that involvement in the futures markets for commodities has taken a beating because of the higher transaction costs and slower investor trust of after the non-payment of Rs 5,600 crore in exchange for cash NSEL.
FMC also said he addressed to all the national stock exchange not to charge any fee for the audit of its members and must develop internal capacity for this purpose.
There are five national exchanges - MCX, NCDEX, NMCE, ICEX and ACE, and 11 commodities exchanges regionally operating in the country.
News By Economictimes
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Their business stood at Rs 14.77 lakh during the same month in the relevant year. Maximum fall was noted in bullions, followed by goods of energy, base metals and agri commodities, commodity markets regulator FMC said that the latest release of their data.
Business volume bullion down over 76 percent to Rs 1.68 lakh crore in April this year, compared to Rs 7.15 lakh rupees in the previous year, data showed FMC.
The stock business energy goods as crude oil fell by over 70 percent to Rs 1.04 lakh rupees from Rs 3.5 lakh rupees, whereas the business volume of the metals was reduced by 64 percent to Rs 95.195 million rupees from Rs 2.63 lakh million Rupees in the revision period.
Likewise the turnover in agricultural commodities declined by 35 percent to Rs 96.167 million rupees in April this year, from Rs 1.48 lakh million rupees in the same month of last year.
The researchers said that involvement in the futures markets for commodities has taken a beating because of the higher transaction costs and slower investor trust of after the non-payment of Rs 5,600 crore in exchange for cash NSEL.
FMC also said he addressed to all the national stock exchange not to charge any fee for the audit of its members and must develop internal capacity for this purpose.
There are five national exchanges - MCX, NCDEX, NMCE, ICEX and ACE, and 11 commodities exchanges regionally operating in the country.
News By Economictimes
Get more Indian commodity market news & updates with www.100McxTips. Follow our latest market tweets @100mcxtips and Like our Facebook profile page : https://www.facebook.com/100mcxtips
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