MUMBAI: Exchange volumes for the commodity segment declined sequentially in August, while equity derivatives and cash segment remained flat by 6%, according to data analyzed by ICICI Securities.
In August, the Average Daily Trading Volume (ADTV) was ₹62,900 crore on NSE. This compares to the average of ₹70,400 crore between April-July. ADTV was down 6% month-on-month (MOM) on BSE Cash ₹5,200 crores. ICICI Securities said that on a yearly basis, ADTVs on NSE and BSE were up 3% and 17% respectively. NSE’s cash segment market share stood at 92 per cent in August.
ICICI Securities said the phase-3 impact of upfront margin norms was seen in cash and commodity segments, while derivatives volumes saw a month-on-month growth.
The Securities and Exchange Board of India’s (SEBI) new mandate in margin trading, which was implemented in a phased manner last year, has increased the advance requirement to 100% from September. SEBI increased the upfront margin requirement from 25% to 50% with effect from March 1, 2021, and 75% in June.
In equity derivatives segment, NSE ADTV was in August ₹60 trillion compared to ₹57 trillion in the last month. BSE Alternatives ‘ADTV Flat Maa Banni’ ₹3 trillion in August.
In Commodity segment, MCX reported ADTV ₹Rs 25,000 crore fell 8% month-on-month and 42% year-on-year in August.
“Month-on-month (Mother) decline in ADTV was due to gold, crude and copper. The decline in gold and copper ADTVs was mainly due to decline in trading volume on the platform, while the decline in crude ADTV was due to fall in both prices and volumes alike. ICICI Securities said, among the commodities that reported mom gains were silver on the back of increase in trading volume and natural gas on the back of higher prices.
Data till July shows that CDSL and NSDL have a market share of 65% and 35% respectively. In terms of incremental accounts opened in FY12, CDSL has maintained its major share of 88% versus 86% in FY12. Monthly demat additions for CDSL and NSDL stood at 2.3 million and 0.37 million in July.
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