Friday, Apr 19 2024 | Time 21:45 Hrs(IST)
image
Business EconomyPosted at: Sep 23 2020 4:39PM


BSE’s India INX daily turnover volume crosses an all-time high of USD 5.12 bn

Kolkata, Sep 23 (UNI) The India International Exchange (IFSC) Limited (India INX),
India’s first international exchange based in the International Financial Services
Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) witnessed an
all-time high turnover of over USD 5.12 bn (INR 37,629 crores approx.) on its
derivative segment in daily trading turnover on September 22, 2020.
Trading volume on the BSE’s India International Exchange has been growing
exponentially ever since it commenced trading activities on January 16, 2017.
Its average daily trading volume has crossed over USD 3.46 bn (INR 25,429
crores approx.) mark in the month of Sep 2020, a 17.76% growth in average
daily trading volumes as compared to previous month.
The cumulative trading turnover has crossed the USD 1.12 trillion (INR 82,26,380
crores) mark driven by a substantial jump in market participation. On May 08, 2020,
Union Finance Minister Nirmala Sitharaman inaugurated Rupee Dollar
Derivatives which has seen a cumulative turnover of USD 9,734.56 mn (INR 71,544
crores) till September 21, 2020 and market share of 80% in GIFT IFSC.
This increased trading activity validates the new products and initiatives taken by
India INX and reflects growing interest in the IFSC among the broking fraternity.
Even during the Covid-19 pandemic and lockdown, India INX was operational for
22 hours nonstop.
India INX has maintained its leadership as the No. 1 exchange in IFSC GIFT City
and accounts for overall market share of around 80% for September 2020.
The exchange provides a common platform for all asset classes - equities,
currencies, commodities. India INX is one of the world’s most advanced technology
platforms with a turn-around time of 4 micro seconds and operates for 22 hours a
day to allow international investors to trade from anywhere across the globe.
India INX offers a diversified portfolio of products and technology services at a
cost which is more competitive to Indian exchanges; as well as other global
exchanges like those in Hong Kong Singapore, Dubai, London and New York.
The exchange being located in IFSC, GIFT City, provides competitive advantage
in terms of tax structure and supportive regulatory framework.
These include benefits in security transaction tax, commodity transaction tax,
dividend distribution tax and long-term capital gain tax waivers and no income tax.
UNI XC BM
Please log in to get detailed story.
Tags: #BSE’s India INX daily turnover volume crosses an all-time high of USD 5.12 bn
More News

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image