MCX-SX goes live; sees thin turnover at Rs 12.53 cr
Mumbai: Trading in equity and equity derivative segments of MCX Stock Exchange (MCX-SX), which commenced operations on Monday, saw a meagre turnover of Rs 12.53 crore.
On the first day of trading on MCX-SX, the total turnover stood at Rs 12.53 crore.
In contrast, the S&P CNX Nifty's turnover stood at Rs 5,506.41 crore on the NSE, while the BSE benchmark index Sensex's turnover was at Rs 366.23 crore.
MCX-SX has started with 1,116 companies admitted for trading under "permitted to trade" in its capital market segment.
Of the 700 membership applications received by MCX-SX, 405 applications have been already registered by market regulator Sebi, the company said in a statement.
MCX-SX will soon commence trading in its benchmark index SX40, which was launched by Finance Minister P Chidambaram on Saturday.
At the end of trade on Monday, NHPC was the top gainer on the bourse as its shares surged 7.14 percent to Rs 30, while Axis Bank was the second biggest performer as it rose by 2.70 percent to Rs 1,489.90.
Reliance Industries, Suzlon and Tata Steel led the volumes chart, while the value list was topped by RIL, Tata Steel and SBI.
A total of 198 trading members were enabled for trading on the first day.
The clearing members enabled in equity segment stood at 198, while in the future and options category it was 58.
"A stock exchange is a market infrastructure institution which requires a long-term approach like a marathon and not like a sprint race. We would focus on systems, process and compliances and volumes should build up steadily," said Joseph Massey, MD & CEO, MCX Stock Exchange.
"We are working on liquidity enhancement scheme under SEBI's framework and after due processes it will be introduced and it will have a catalytic effect," he added.
SX40 is a free-float based index of large-cap and liquid stocks, representing diverse sectors. The base value will be 10,000 with a base date of March 31, 2010, the exchange had said.
Constituents of SX40 are: ACC, Ambuja Cements, Asian Paints, Bajaj Auto, BPCL, Bharti Airtel, BHEL, Cairn India, Cipla, Coal India, Dr Reddy's, Gail India, HCL Tech, HDFC Bank, HDFC, Hero MotoCorp, Hindalco, HUL, ICICI Bank, Infosys, ITC, JP Associates, JSPL, L&T, Lupin, M&M, Maruti Suzuki, NTPC, ONGC, Power Grid Corp, RIL, Sun Pharma, TCS, Tata Motors, Tata Power, Tata Steel, Titan Industries, Mcdowell, Wipro and Zee Entertainment.