The benchmark BSE Sensex posted strong returns of 28% in 2017 at its closing of 34,056 on December 29
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The year 2017 was the worst in three years for commodity exchanges due to the migration of participants to better-performing asset classes like equities and reduced price volatility in global commodities.
After two calendar years of marginal growth, the daily average turnover (DAT) on commodity exchanges declined by 15 percent, primarily driven by a similar fall in the DAT of market leader the Multi Commodity Exchange of India (MCX). Total DAT of commodity exchanges, including MCX, National Commodity & Derivatives Exchange (NCDEX) and National Multi Commodity Exchange (NMCE), reported a decline of 15 percent from Rs 26,311 crore in 2016 to Rs 22,494 crore in 2017.
The decline indicates traders’ keenness to deal more in the asset classes witnessing a bull run for better returns. Global equity markets led by emerging economies, including India, yielded better returns this year than previous years.
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