Saturday, February 16, 2013

MCX SX on the track

     Challenging the monopoly of BSE and NSE, the newly launched stock exchange, MCX SX has started its operation as the third national stock exchange in the country.  It is only after almost 20 years, the debut of a new stock exchange in India, in spite of mighty economic advancements of the country.  Mcx sx enters to the stock trading scene when all other stock exchanges, except Bombay Stock Exchange (BSE), had receded from operation after the establishment of National Stock Exchange (NSE) in 1994.



     It was the Finance Minister who inaugurated the exchange on February 9 and it set in to the motion on last Monday.  First day was not a notable day as far as the trading volume is concerned.  It was too low and the trading interest was seen only in 23 companies and many of those were, literally, very minute.  The executed trading volume of the first day was as little as 11,941 shares at a value of total Rs 69 lakhs.  In the meantime, NSE traded Rs 9400 Cr on the same day.  RIL, NTPC, SBI were the companies that performed well first day even though the trading volume were very limited.  Trading of 6164 shares of RIL only was recorded while 194  and 59 shares of SBI and NTPC were traded respectively.  Most of the brokers were staying away maintaining a cautious sense in order to observe how the newly established stock exchange produce the results.

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