The cash segment of the National Stock Exchange (NSE) created a record of sorts when it clocked its all-time high turnover of Rs 1.47 lakh crore in a single trading session on Friday. Its earlier high was recorded on August 31, 2020, when NSE’s cash segment recorded a turnover of ͅ Rs 98,935 crore in a single trading session.
The market turnover is rising gradually as the stock prices across the segments are reaching new highs on a daily basis.
Chandan Taparia, VP - Derivatives & Technical Equity Research, Motilal Oswal Financial Services said, “Indian market is making all the new records in terms of market levels as well as trading activities. The market continued its one more record on the last trading session of the November month as on this Friday, 27th November 2020, the NSE cash segment hit a lifetime high turnover of 1,47,358 Cr in a single day. Market turnover is gradually rising as average daily turnover in November 20 month is Rs 66,858 crore, which is higher than previous daily average turnover of Rs 61,385 crore made in June '20.”
NSE also recorded a new milestone in terms of trading volumes on monthly expiry day (Thursday - 26th November 2020) in the futures and options (F&O) segment, as it made a new record of trading volume and traded contracts with a record of the daily turnover of Rs 72.57 lakh crore and Rs 9.02 crore contract were traded on the expiry day.
The derivatives contracts are traded on a monthly basis and are settled every last Thursday of the month.
Indian equity markets have seen good attraction in all the segments as it continued the bullish momentum with strong buying figures from Foreign Portfolio Investors (FPIs) along with MSCI weight increase flows of around $5 bn in India. Other conducive factors like positive global setup, a decline in volatility, short covering move, higher market value, and base with momentum in many heavyweights as well mid-cap counters have also contributed, said Taparia.