Financial Daily from THE HINDU group of publications
Tuesday, Apr 02, 2002
Financial Daily from THE HINDU group of publications Tuesday, Apr 02, 2002 |
|
|
|
|
|
Agri-Biz & Commodities
-
Commodity Exchanges Markets - Stock Exchanges Sinha asks NSE to take up commodities trading Our Bureau
(From right) The Union Finance Minister, Mr Yashwant Sinha, Mr P.P. Vora, Chairman, National Stock Exchange, and Mr Ravi Narain, MD & CEO, at the inauguration of Exchange Plaza in Mumbai on Monday.
MUMBAI, April1 THE Union Finance Minister, Mr Yashwant Sinha, today urged the National Stock Exchange to consider trading in other areas such as commodities and international currency futures, taking advantage of time zones. Mr Sinha was speaking at the inauguration of the Exchange Plaza of the National Stock Exchange in Mumbai today. "Why can't NSE consider trading in gold in spot and futures markets. It can also take advantage of the international trading timings such as trading after the Hong Kong Stock Exchange closes and before the London bourses open,'' he said. The Government was also devising a mechanism to let trading in the government securities/bonds as in equity. "Why can't the same 10,000 trading screens be used for government securities as well?" Mr Sinha added. Mr G.N. Bajpai, Chairman, SEBI said the regulatory body was considering a representation for increasing the `area' and `scale' of the derivatives market. "The derivatives market has seen a steady rise since introduction. A representation on the increase of area and scale of it was received by us earlier," he added. This could mean an increase in the number of scrips that are now in the list for the derivatives markets, said an analyst. Currently, there are about 31 scrips traded in the derivatives market. Mr Bajpai also expressed concern over the `dwindling' investor confidence and said that investor awareness programmes are required to empower the investor. Volumes in the secondary markets are not as healthy as they were earlier. This is also a sign of the low investor confidence, he added. Mr Ravi Narain, MD and CEO, NSE said the exchange was looking to push index-based products.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|