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Turnover plunges by Rs 14.9 trillion

BS Research Bureau

The combined turnover on the four major Indian bourses declined by a hefty Rs 14.86 trillion to Rs 12.45 trillion during calendar 2001.

The volume of shares traded on the four exchanges however, moved up marginally 95.4 million shares to 55.53 billion shares.

In absolute terms, the aggregate turnover on the country's most active stock markets -- the National Stock Exchange, the Bombay Stock Exchange, the Calcutta Stock Exchange and the Delhi Stock Exchange -- declined by 54.4 per cent to Rs 12.45 trillion in 2001, compared with Rs 27.32 trillion in calendar 2000.

The volume in terms of shares rose marginally by 0.17 per cent to 55.53 billion from 55.44 billion shares. There has been a drop in turnover across all trading centres.

The fall has been attributed to the decline in share prices and introduction of rolling settlement in the most traded from July 2, 2001.

The Kolkata and New Delhi exchanges were hit hard by the introduction of rolling settlement, with a fall of over 75 per cent in turnover and 41 per cent in volume of shares.

The NSE's turnover fell by 47.3 per cent to Rs 66 trillion from an aggregate of Rs 12.47 trillion in 2000.

However, volume of shares on the exchange rose by 15.48 per cent at 29.03 trillion shares from 25.14 trillion. The BSE aggregated 52.6 per cent fall in turnover at Rs 0.47 trillion from Rs 0.99 trillion. Its volume of shares was almost steady at 21.97 trillion shares.

The BSE and NSE combined shared 90.8 per cent of the total turnover with the NSE accounting for 52.8 per cent and the 38 per cent. The CSE accounted for 7.41 per cent and the DSE got the rest, around 1.8 per cent.

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