MCX - Bullion Volumes Continue To Soften: ICICI Securities 
A stack of one kilogram gold bullion bars sit inside a vault in Germany. (Photographer: Michaela Handrek-Rehle/Bloomberg)

MCX - Bullion Volumes Continue To Soften: ICICI Securities 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

December 2020-to-date Multi Commodity Exchange of India Ltd. average daily traded value (ADTV) came in at Rs 297 billion versus Rs 432 billion in August 2020, continuing its downtrend for fourth consecutive month due to declining bullion volumes.

Gold / silver ADTV has moderated from Rs 122 billion / Rs 176 billion in Aug-20 to Rs 69 billion / Rs 87 billion in Dec-20-to-date, respectively.

Crude ADTV continues to remain lower at Rs 11 billion and has declined 61% month-on-month in Dec-20-to-date.

Securities and Exchange Board of India’s decision for resolution over higher crude oil margins remains a near-term trigger for the stock.

Click on the attachment to read the full report:

ICICI Securities MCX Update Dec20.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.