Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Crude Oil Options Make an Encouraging Debut on MCX with Rs. 101.67 Cr. Volume

Posted On: 2018-05-16 10:26:44

Multi Commodity Exchange of India Ltd. (MCX), the country's largest commodity derivatives exchange, today commenced options trading in crude oil contract. The contract has witnessed traded volume of 2058 lots with value of Rs 101.67 Crore, as of 05:30 pm today.

The exchange has currently launched June and July 2018 option contracts in crude oil, with one MCX crude oil futures contract (100 barrel) as the underlying. On its expiry, if exercised, the open position shall devolve into the respective underlying futures position. This new options contract alongside the popular crude oil and crude mini (10 barrel) futures contracts will benefit the crude oil stakeholders, providing them with an efficient solution to hedge against unfavourable price movements in the global crude oil markets. This options contract is available for trading on MCX from 10:00am to 11:30pm / 11:55 pm.

In order to encourage active participation in the market the exchange is not levying any transaction fees on the commodity options contracts including crude oil till September 30, 2018.

Speaking on the launch, Mr. Mrugank Paranjape, MD & CEO, MCX said, "We're delighted with the successful launch of our options contract in crude oil. We are keen to ensure that our product portfolio has the diversity necessary to service a wide spectrum of commodity stakeholders. The new crude oil options contract will further strengthen our crude product basket while offering immense value to its stakeholders who are seeking to hedge against volatility in oil prices."

Mr. Sanjay Rawal, President, Commodity Participants Association of India (CPAI) said, "The options contract which would complement the crude oil futures contract is a welcome addition to MCX's energy basket. There is already a tremendous amount of interest as we see today from the market participants to hedge in this new product given the recent trends in global geopolitics and volatility in crude oil. We believe that the physical market participants will highly benefit from this contract."

Crude oil is one of the world's most widely used commodities. After refining, crude oil can be made into a variety of products such as fuel oil, petrol and diesel. In FY17, oil production in India reached 36 million metric tonnes (MMT) as compared to 36.94 MMT in FY16. In FY18, up to October 2017, oil production stood at 21.06 million metric tonnes. As of 2016, the country had 600 million metric tonnes of proven oil reserves. In FY17, total crude oil imports were valued at USD 80.3 billion as compared to USD70 billion in FY16. In FY17, imports accounted for 82% of the country's total oil demand. In FY18, up to October 2017, crude oil Imports stood at 2.52 million barrels per day.

Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.784 as compared to the previous close of Rs. 777.95. The total number of shares traded during the day was 38218 in over 1460 trades.

The stock hit an intraday high of Rs. 797 and intraday low of 767.05. The net turnover during the day was Rs. 30055373.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Zydus receives approvals from the USFDA for Albendazole Tablets and Pregabalin Capsules

Datamatics to demerge and separately list its subsidiary Lumina Datamatics

Future Consumer Ltd completes sale of stake in Amar Chitra KathaIBrivate Limited

Infosys Ltd board to announce Q3 FY19 results on Jan 11, 2019

United Bank of India to seekk approval for raising Rs. 3000 crore

DBL Rewa Sidhi Highways Private Limited receives appointed date from NHAI

Wipro Positioned as a Leader in Everest Group PEAK Matrix™ for Application Services in Capital Markets

Solara Research Centre completes USFDA Inspection with Zero 483s

Satin Creditcare Network Ltd allots 2130 NCDs

Mitsu Chem Plast Ltd commences new facility

Premier Explosives Ltd enters into MoA with IAF

TV Today Network Ltd launches 'Aaj Tak HD' News Channel

Gujarat Ambuja Exports Ltd to put up green field plant at Malda, West Bengal

Satin Creditcare raises US$ 30 mn NCD from FMO to accelerate microfinance lending portfolio

Gayatri Projects Ltd JV bags new order of Rs. 493 crore

NIIT Ltd. appoints Bimaljeet Singh Bhasin as President - Skills and Careers Business India Operations

Indian Hume Pipe Company Ltd receives two LOAs for orders worth Rs. 234.11 crores

Caprihans India Ltd announces resignation of Mr. Mohan H. Bhandari

Caprihans India Ltd appoints additional director

The Ramco Cements Limited lays foundation stone for 3.15 MTPA cement plant at Kalavatala, Kurnool district

Religare Health Insurance recognized as one of the brands making healthcare accessible

Walchand PeopleFirst Launched CommunityFirst Initiative To Celebrate Its 15th Anniversary

Asirvad Microfinance achieves a milestone of reaching Rs 3,000 crore micro-finance AUM

DLF Shopping Malls Announces the First Ever Food Excellence Awards 2018

JK Cement salutes the unsung heroes of India at JK Cement SwachhAbility Awards

Ind-Ra upgrades credit rating of Escorts Ltd

City Union Bank new branch at Nelson Manickam Road, Chennai

Infosys announces JV with Hitachi, Panasonic and Pasona in Japan

TVS Motor Company expands and strengthens its presence in Peru with three new product launches

Escorts Ltd launches new range of Construction Equipment at Bauma CONEXPO 2018

IL&FS Transportation Networks Ltd appoints Ms. Shaivali Parekh as CFO

DBL Rewa Sidhi Highways Private Limited receives financial closure letter from NHAI

Reliance Capital Ltd's arm sells stake in Menon & Menon Ltd for Rs. 23 crore

Adani Enterprises arm acquires stake in Alpha Design Technologies Pvt Ltd

Khadim India Ltd allots 4417 shares

CARE updates on ratings of Himadri Speciality Chemical Ltd

Dhunseri Petrochem Ltd is now Dhunseri Ventures Ltd

IOC declares interim dividend of Rs. 6.75 for 2018-19

Premier Explosives Ltd bags order from Israel Company

Advanced Enzyme Technologies Ltd bags award in UBM India Pharma Awards 2018

CARE revises ratings on bank facilities of Dilip Buildcon Ltd

Jain Irrigation bags order of Rs. 584 crores

IOC announces buy back of 29,76,51,006 equity shares at Rs. 149

Lupin receives tentative US FDA approval for Dimethyl Fumarate Delayed Release Capsules, 120 mg and 240 mg

YES BANK updates on today's board meeting

Techno Electric & Engineering Company Ltd approves buy-back of 26,82,400 shares

Ganesh Films India Ltd acquires North India distribution rights for 'KANAA'

TVS Motor Company rolls out the 50,000 unit of the BMW 310cc series motorcycle

Maruti Suzuki receives 'Commendation for Significant achievement' at CII-ITC Sustainability Awards'18

Steel Strips Wheels Ltd receives 90,000 Truck Wheel Order







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018