Latest News | MCX Bulldex Sees Record Single-day Turnover of Rs 652 Cr on Nov 9

New Delhi, Nov 10 (PTI) Leading commodity bourse MCX on Tuesday said its bullion index MCX Bulldex recorded the highest single-day turnover of Rs 652 crore on November 9 for the first time since its launch.

The real-time bullion index, launched on August 24, has gold and silver as underlying, with gold having a weightage of 70.52 per cent and silver accounting for the remaining 29.48 per cent.

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"Monday evening saw global macros create a sectoral movement in precious metals. MCX BULLDEX captured this volatility across gold and silver effectively, thereby providing market participants a hedge against risk across gold as well as silver positions," MCX Head Bullion Shivanshu Mehta said in a statement.

Significant average daily turnover was seen in underlying bullion futures as well as options, thereby reflecting on the complimentary of the MCX bullion product portfolio, he said.

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The MCX Bulldex recorded the highest single-day turnover of Rs 652 crore on November 9, he added.

Last month, it had clocked a record total turnover of Rs 6,139.73 crore.

MCX offers both futures and options trading and has a large presence in metals and bullion.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)