sebiback home, harshad mehta scam, ketan parekh scam and saradha scam in recent times. and now the...

SEBIBULLETIN

February 2019 VOL. 17 NuMber 02

^maVr¶ à{V^y{V Am¡a {d{Z‘¶ ~moS>©Securities and exchange board of India

JUNE 2019 VOL. 17 NUMBER 06

SECURITIES AND EXCHANGE BOARD OF INDIA

EDITORIAL COMMITTEE

l Mr. P K Nagpal

l Dr. Prabhakar R. Patil

l Mr. Shashikumar Valsakumar

l Mr. Prabhas Rath

l Mr. Sahil Malik

The Securities and Exchange Board of India Bulletin is issued by the Department of Economic and Policy Analysis,

Securities and Exchange Board of India under the direction of an Editorial Committee. SEBI is not responsible for

accuracy of data/information/interpretations and opinions expressed in the case of signed articles/speeches as authors

are responsible for their personal views. SEBI has no objection to the material published herein being reproduced,

provided an acknowledgement of the same is made. The soft copy of SEBI Bulletin is available free of cost to the

subscribers/readers, who register at [email protected] along with their complete address. A readable version of SEBI

Bulletin is available at http://www.sebi.gov.in. Any comments and suggestions on any of the features/sections may be

sent to [email protected]

CONTENTS

SPEECH OF SHRI AMARJEET SINGH ON ETHICS IN THE INVESTMENT PROFESSION

CAPITAL MARKET REVIEW

REVIEW OF GLOBAL FINANCIAL MARKETS

HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET

POLICY DEVELOPMENTS

REGULATORY ACTIONS TAKEN BY SEBI

TABLES

PUBLICATIONS

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JUNE SEBI BULLETIN 2019

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CONFERENCE ON ETHICS IN THE INVESTMENT PROFESSIONShri. Amarjeet Singh, Executive Director, SEBI

1. Thanks for the kind introduction and many thanks for having me here today. Admittedly, I have a vested interest to be here. Regulatory rule making and Ethics apparently should have an inverse relationship – that is what I would like to believe. Regulators can perhaps relax a bit and live with more of principle based regimes rather than honing out precise last mile rules, if they were assured of a highly ethical culture in the financial services industry.

2. In any case, a conference on Ethics is very relevant and timely in the context of the events of the last few months in the Indian financial world leading to trust deficit. Somehow the subject gets less attention in public discourse than it deserves. I would therefore like to commend CFA Institute and NISMand the staff who chose this topic for the conference.

3. Turning to my remarks, the subject of Ethics can be approached from several angles. Having been a regulator most of my career, I would like to share my thoughts on the subject with you from a regulatory perspective.

4. My reflections are broadly in three main parts. I would like to begin on a negative note of Ethical Failures and the lessons we learnt from these failures in the world of finance. Secondly, I would like to briefly talk about the Regulatory response to these ethical failures both in terms of rule-making and enforcement. And finally, industry response or inadequacy of it, would be the third strand in my reflections.

Ethical Failures

5. The general perception based on the events in recent times is that there has been a general decline in ethical standards across the world, including India. Transparency International reminds all nations every year about their relative standing on the state of corruption in their jurisdictions. Over two-thirds of the 176 countries in their 2016 computation fall below the midpoint of

their scale of 0 (indicating highly corrupt) to 100 (indicating very clean). India ranks poorly at 79 and interestingly enough China and Brazil enjoy or I should rather say, suffer the same rank of 79 with India. Corruption levels are an indicator of the efficiency, reliability and governance of government administration.

6. So this impression of general decline in ethical standards is not without reason - it applies to all walks of life and it got more accentuated in the financial sector because of the events that unfolded during the last two decades.

7. The financial world has witnessed a series of crises and scams such as at the global level, Dotcom bust, Enron, Global financial crisis and Libor crisis and back home, Harshad Mehta scam, Ketan Parekh scam and Saradha scam in recent times. And now the one that has unfolded in the past few weeks…

Lessons learnt

8. Each of these scams have been sufficiently dissected in retrospect and various lessons have been learnt out of these. In the ultimate analysis, each financial crisis can be traced to misconduct or in other words, to a human ethical failure. The significance of conduct and culture in financial firms was particularly acknowledged as an important lesson from the global financial crisis, which was also reinforced by the Libor crisis.

9. It was recognized that conduct and culture of the players in the financial firms pose huge risks to not only their own institutions but also to the financial system as a whole as a systemic risk. Traditional prudential supervision in terms of managing solvency and liquidity risks is therefore not enough and needs to be supplemented by focus on conduct and culture in financial firms.

Regulatory response

10. Let me now turn to the response of international financial regulatory community to ethical failures in the financial markets.


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11. Both IOSCO and FSB have in the recent years undertaken standard setting and monitoring work to reduce misconduct risk in the financial markets. For example, a new IOSCO Principle was introduced on addressing conflicts of interest. IOSCO Principles for Financial Benchmarks published in 2013 and post LIBOR crisis, a report on Wholesale Market Conduct in 2017 and FSB’s Principles for Sound Compensation Practices post global financial crisis are examples of the work aimed at improving market conduct.

12. SEBI has prescribed a Code of Conduct for all the intermediaries registered with SEBI. Additionally, SEBI has prescribed several requirements relating to ethics and integrity under the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 for listed companies. Among other requirements, the LODR expects the board of directors to maintain high ethical standards and set a corporate culture and the values by which executives throughout a group shall behave.

Enforcement Trends

13. Apart from a spate of rule-making in the post crisis world, regulators have also stepped up on enforcement against frauds and misconduct. Evidently, there have been two clear trends in the area of enforcement.

14. One, the level of fines and penalties have gone up to all time high. For example, for financial benchmarks, the cumulative fines have been more than 8 billion USD (3 billion USD by FCA UK; 5.2 billion USD by US CFTC).

15. The second interesting trend is that the regulatory slap by way of debarments and fines etc. has extended beyond firms to individuals. The effect of fines on firms has blunted over the years with fines accepted as cost of doing business. In recent years, a large number of senior functionaries including CEOs/ CFOs etc. have been penalized.

16. In FY 2017, 73% of the US SEC’s standalone actions involved charges against one or more individuals.

17. Back home, SEBI has frequently used its powers to take debarring action against promoter directors

of listed companies.

18. In case of action against individuals, the effect is more severe and damaging. Action against individual misconduct is a clear warning bell from regulators as a move towards credible deterrence.

Industry response

19. The regulatory rule-making and enforcement actions reflect the expectations of the society. The societal expectations from the financial services players to have high standards of ethics and integrity are loud and clear. While regulators are driving the change in the area of conduct regulation, regulatory travel, in terms of both rule making and punitive reach, has its own limitations.

20. Financial services industry has to step forward and supplement the regulatory efforts. Compliance with regulation alone is insufficient to fully earn investor trust. Firms must develop a “culture of integrity” that permeates all levels of operations and aims at working in the best interests of investors. A strong ethical culture in the industry will strengthen investors’ faith in the capital markets. That is why ethics matter.

21. I believe in the post crisis world, industry associations, self-regulatory organizations, banks, financial institutions and corporates have responded by reinventing the codes of conduct for their members and employees. This has happened under increasing regulatory pressure and to be fair, also of their own accord. An ethical code clarifies the objectives a company pursues, the norms and values it upholds and the conduct it expects from its leadership, employees and business partners.

Is it enough?

22. While these developments are welcome, few of the relevant questions in this context are: what have been the impact and outcomes of having these codes of conduct? Are these codes achieving the intended outcomes? Have the ground realities changed? Are any assessment done to do a reality check on performance against these codes? Do the compliance departments actually work as compliance department or avoidance department ? In a nutshell, is industry doing enough?


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23. I do not have ready answers to these questions. These are for the industry to respond. I can however share one regulatory lament which I am sure you have heard many times. That is, in general, laws and codes of conduct are observed in ‘letter’ but not in ‘spirit’. Regulatory experience often reveals the gaps between prescription and practice. It is ‘good to have’ an ethical code, it would be ‘better to practice’ the same in letter and spirit.

24. This is an old call of regulators. In tune with the changing times, there is a need to go one step further. It is not sufficient to focus only on the content of law. As market development often front runs regulation, important risks often have nothing to do with non-compliance of existing laws. We have examples of enlightened corporates traveling the extra mile and improving upon their

practices beyond the legal requirements. On the other extreme, we also have examples of blatant non-compliance and no respect for law.

Conclusion

25. To wrap up, a regulator’s job always remains unfinished. A regulator has to control or reduce harm by punishing bad behavior through strong enforcement. At the same time, it has to promote good behavior. To this latter end, seminars like this one contribute. I once again compliment the organisers and would also advocate organizing more events like this for promoting good conduct, ethics and integrity at the work place. Highly ethical behavior would supplement the regulatory endeavors and perhaps make our life a bit easier.

26. Thank you for your attention and patience!


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I. Introduction

India’s capital markets witnessed volatile sessions during the month of May 2019 due to outcome of the Lok Sabha Elections 2019, Corporates earning and global weakness. During this month, foreign portfolio investors was a net buyer whereas domestic investors were a net seller in the domestic capital markets.

On May 31, CSo released the GDP for 2018-19. As per CSO, the Indian economy is estimated to grow at a rate of 6.8 per cent during the financial year 2018-19 after a downward revision from government estimate of 7.0 per cent in February. The Indian economy had grown at 7.2 per cent in the previous financial year.

Retail inflation in India jumped to 3.1 per cent in May 2019 compared to 2.99 per cent in April 2019 due to costlier food and beverages, vegetables pulses, meat and

fish and products. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of April 2019 stand at 107.8, 126.6 and 162.9 respectively, with the corresponding growth rates of 5.1 percent, 2.8 percent and 6.0 percent as compared to April 2018.

India’s exports in May 2019 were USD 29.99 billion, as compared to USD 28.86 billion in May 2018, exhibiting a positive growth of 3.93 per cent. Imports in May 2019 were USD 45.35 billion which was 4.31 per cent higher over imports of USD 43.48 billion in May 2018. The trade deficit, difference between imports and exports, aggregated at USD 15.36 billion.

The following sections of the review highlight the trends observed in the Indian securities market during May 2019.

CAPITAL MARKET REVIEW

II. Trends in Resource Mobilisation by Corporates

Exhibit 1: Funds Mobilisation by Corporates (` crore)

Particulars Apr-19 May-19A. Funds Mobilisation through Public Issue (I+II) 30,424 25,527

I. Equity Public Issuea. IPOs (i+ii) 3,221 106 i. Main Board 3,159 0 ii. SME Platform 62 106 b. FPOs 0 0 c. Equity Right Issue 25,012 24,372

II. Debt Public Issue 2,191 1,048 B. Funds Mobilisation through Private Placement 1,09,065 63,428

1. QIP/IPP 3,173 0 2. Preferential Allotment 35,828 19,851 3. Private Placement of Debt 70,064 43,577

Total Funds Mobilised (A+B) 1,39,489 88,955 Notes: Current month data are provisional Source: SEBI, NSE, BSE and MSEI

During May 2019, Primary market mobilized funds through equity public issues of ` 106 crore as compared to ` 3,221 crore raised in April 2019. Further, there were two rights issue which mobilized ` 24,372 crore during May 2019 as compared to ` 25,012 crore mobilized in April 2019.

In addition, during May 2019, Primary market mobilized funds through Bonds public issues of ` 1,048 crore as

compared to ` 2,191 crore raised in April 2019.

During May 2019, corporates mobilised of ` 19,851 crore through preferential allotments compared to ` 35,828 crore raised in April 2019. There was no QIP listed during May 2019. Corporate sector mobilised resources by way of private placements of corporate bonds. The companies mobilised ` 43,577 crore in May 2019 as compared to ` 70,064 in April 2019.


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III. Trends in the Secondary Market

Exhibit 2: Snapshot of Indian Capital Market

Description Apr-19 May-19Change during the

Month

Index in Equity Market

Sensex 39032 39714 1.7Nifty 50 11748 11923 1.5Nifty 500 9664 9805 1.5BSE 500 15294 15518 1.5Nifty Bank 29765 31375 5.4Nifty IT 16705 16161 -3.3BSE Healthcare 14367 13305 -7.4BSE FMCG 11764 11518 -2.1

Market Capitalisation (` crore)

BSE 1,52,54,028 1,54,38,015 1.2

NSE 1,50,43,275 1,52,54,361 1.4

P/E Ratio

Sensex 29.0 29.0 0.2

Nifty 50 29.3 29.5 0.5

No of Listed Companies

BSE 5282 5292 0.2

NSE 1938 1942 0.2

Gross Turnover in Equity Segment (` crore)

BSE 55,868 58,172 4.1NSE 6,40,115 7,88,184 23.1

Gross Turnover in Equity Derivatives Segment (` crore)

BSE 4 3 -18.7

NSE 2,25,55,286 2,55,46,457 13.3

Gross Turnover in Currency Derivatives Segment (` crore)

BSE 5,80,692 6,52,341 12.3

NSE 7,11,355 6,83,259 -3.9

MSEI 2,780 1,903 -31.6

Gross Turnover in Interest Rate Derivatives Segment (` crore)

BSE 4,738 8,498 79.4

NSE 24,098 22,662 -6.0

Source: NSE, BSE and MSEI


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At the end of May 2019, S&P BSE Sensex closed at 39714 witnessing an increase of 1.7 per cent from the previous months closing at 39032. The Nifty 50 closed at 11923 witnessing an increase of 1.5 per cent compared to previous month’s closing at 11748.

During the month, S&P BSE Sensex closed its highest value of 39832 and lowest of 37091 during May 2019. On the other hand, Nifty 50 touched its peak with a closing value of 11946 and lowest of 11148 during the month under consideration.

Figure 1: Movement of Sensex and Nifty during May 2019

Market capitalisation of BSE increased by 1.2 per cent to ` 1,54,38,015 crore at the end of May 2019 from ` 1,52,54,028 crore at the end of April 2019. Market capitalization at NSE too increased to ` 1,52,54,361 crore from ` 1,50,43,275 crore during the same period. The monthly turnover of BSE increased by 4.1 per cent to ` 58,172 crore in May 2019 from ` 55,868 crore in

April 2019. Further, the monthly turnover of NSE too increased by 23.1 per cent to ` 7,88,184 crore in May 2019 from ` 6,40,115 crore in April 2019.

The P/E ratios of S&P BSE Sensex and Nifty 50 were 29 and 29.5 respectively, at the end of May 2019 compared to 29 and 29.3 respectively a month ago.

Figure 2: Trends in Average Daily Values of Nifty 50 and NSE Equity Cash Segment Turnover


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Figure 3: Trends in Average Daily Values of Sensex and BSE Equity Cash Segment Turnover

In the month of May 2019 the performance of the sectoral indices witnessed mixed picture. Among BSE indices, S&P BSE Capital Goods (CG) increased by 10.6 per cent, followed by S&P BSE Bankex (5.8 per cent), S&P BSE PSU (5.1), S&P BSE Consumer Durables (3.5 per cent), S&P BSE Power (2.1 per cent), S&P BSE Small Cap (1.7 per cent) and S&P BSE 100 (1.5 per cent). On the other side, S&P BSE Healthcare decreased by 7.4 per cent, followed by S&P BSE Metal (6.6 per cent), S&P BSE Teck (2.7 per cent) and S&P BSE FMCG (2.1 per

cent) during the month.

Further, among BSE indices, S&P BSE Capital Goods recorded the highest daily volatility 1.8 per cent, followed by S&P BSE PSU (1.6 per cent), S&P BSE Power (1.6 per cent), S&P BSE Metal (1.6 per cent), S&P BSE Bankex (1.5 per cent), S&P BSE Small Cap (1.2 per cent) and S&P BSE 100 (1.1 per cent). S&P BSE Teck and S&P BSE FMCG witnessed the least volatile indices for the month of May 2019.

.Figure 4: Performance of BSE Indices during May 2019

As regards NSE indices, the largest increase was registered by Nifty PSU Bank (6.3 per cent) followed by Nifty Bank (5.4 per cent), Nifty Midcap 100 (2.2 per cent), Nifty Midcap 50 (2.1 per cent), Nifty 500 (1.5 per cent), Nifty 200 (1.4 per cent), Nifty 100 (1.3 per cent) and Nifty Small 100 (1.2 per cent) during May 2019. However, on the hand, Nifty Pharma decreased by 10.1 per cent, followed by Nifty Media (8.5 per cent), Nifty IT (3.3 per cent) and

Nifty FMCG (1.6 per cent) during the month.

Further, among NSE indices, Nifty PSU Bank recorded highest daily volatility of 2.7 per cent followed by Nifty Media (2.3 per cent), Nifty Midcap 50 (1.5 per cent), Nifty Small 100 (1.5 per cent) and Nifty Bank (1.4 per cent). However, Nifty IT, Nifty FMCG and Nifty MNC were the least volatile for the month under consideration.


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Figure 5: Performance of NSE Indices during May 2019

IV. Trends in Depository Accounts

At the end of May 2019, there were 187 lakh demat accounts at NSDL and 178 lakh demat accounts at CDSL. At NSDL, till May 2019, 5,641 listed companies signed up to make their shares available for dematerialisation while at CDSL, 6,295 listed companies signed up.

Trends in Derivatives Segment

A. Equity Derivatives

Among the three exchanges in the equity derivative

market ecosystem, viz., NSE, BSE and MSEI, NSE is dominating the market with almost 100 per cent share in equity derivatives. There is insignificant trading taking place at BSE and no trading in equity derivatives segment at MSEI.

During May 2019, the notional turnover at NSE increased to ` 2,55,46,457 crore from ` 2,25,55,286 crore during April 2019, indicating an increase of 13.3 per cent over previous month.

Figure 6: Trends of Equity Derivatives Segment at NSE (` crore)


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The notional turnover of index futures and that of stock futures increased by 44.8 per cent and 18.2 per cent, respectively in May 2019 over the previous month. Further, the monthly notional turnover of put options and call options on Index increased by 11.2 per cent and 14.5 per cent, respectively over previous month. In addition, the monthly notional turnover of put options on stock also increased by 5.4 per cent. However, call options on stock decreased by 2.7 per cent in May 2019

over the previous month. The open interest in value terms in the equity derivative segment of NSE decreased by 7.3 per cent to ` 2,78,172 crore as at end May 2019 from ` 3,00,028 crore as at end April 2019.

In May 2019, the equity derivatives segment turnover of BSE was ` 3.4 crore compared to ` 4.2 crore in April 2019. The open interest in terms of value stood at ` 0.5 crore as on May 31, 2019.

Exhibit 3: Trends in Equity Derivatives Market

Description

NSE BSE

Apr-19 May-19Percentage

Change Over Month

Apr-19 May-19Percentage

Change Over Month

A. Turnover (` crore)(i) Index Futures 4,06,219 5,88,154 44.8 0.7 1.1 NA(ii) Options on Index

Put 91,70,370 1,01,99,786 11.2 0.0 0.0 NACall 1,08,60,276 1,24,29,716 14.5 0.0 0.0 NA

(iii) Stock Futures 11,59,128 13,70,551 18.2 3.5 2.3 -34.5(iv) Options on Stock

Put 3,07,998 3,24,608 5.4 0.0 0.0 NACall 6,51,295 6,33,641 -2.7 0.0 0.0 NA

Total 2,25,55,286 2,55,46,457 13.3 4.2 3.4 18.3B. No. of Contracts

(i) Index Futures 55,21,413 78,95,357 43.0 7 12 71.4(ii) Options on Index

Put 13,77,19,004 15,07,93,849 9.5 0 0 NACall 16,10,93,858 17,87,71,371 11.0 0 0 NA

(iii) Stock Futures 1,88,19,091 2,36,60,383 25.7 51 28 -45.1(iv) Options on Stock

Put 50,37,643 55,75,141 10.7 0 0 NACall 99,36,612 1,00,48,031 1.1 0 0 NA

Total 33,81,27,621 37,67,44,132 11.4 58 40 -31C. Open Interest in Terms of Value ( ` crore)

(i) Index Futures 28,944 28,322 -2.1 0 0 NA(ii) Options on Index

Put 78,974 68,735 -13.0 0 0 NACall 63,493 55,222 -13.0 0 0 NA

(iii) Stock Futures 1,08,925 1,08,548 -0.3 0.5 0.5 0.0(iv) Options on Stock

Put 7,942 6,612 -16.7 0 0 NACall 11,750 10,732 -8.7 0 0 NA

Total 3,00,028 2,78,172 -7.3 0.5 0.5 0D. Open Interest in Terms of No of Contracts

(i) Index Futures 3,57,414 3,44,754 -3.5 0 0 NA(ii) Options on Index

Put 10,01,206 8,26,834 -17.4 0 0 NACall 8,47,727 6,92,027 -18.4 0 0 NA

(iii) Stock Futures 18,40,700 18,35,515 -94.1 6 6 0.0(iv) Options on Stock

Put 1,37,592 1,12,425 -18.3 0 0 NACall 2,12,396 1,88,534 -11.2 0 0 NA

Total 43,97,035 40,00,089 -9.0 6 6 0

Source: NSE and BSE


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B. Currency Derivatives at NSE, BSE and MSEI

The monthly turnover of currency derivatives at NSE during May 2019 decreased by 3.9 per cent to ` 6,83,259 crore from ` 7,11,355 crore in April 2019. However, during the same time, the monthly turnover of currency

derivatives at BSE increased by 12.3 per cent to ̀ 6,52,341 crore from ` 5,80,692crore. The monthly turnover of currency derivatives at MSEI during May 2019 stood at ` 1,903 crore decreased from ` 2,780 crore a month ago.

Figure 7: Trends of Currency Derivatives at NSE, MSEI and BSE (` crore)

C. Interest Rate Futures at NSE and BSE

During May 2019, the monthly turnover of interest rate futures at NSE decreased by 6 per cent to ` 22,662 crore from ` 24,098 crore in April 2019. However, during the same time, the monthly turnover of interest rate futures

at BSE increased by 79.4 per cent to ` 8,498 crore from ` 4,738 crore. There was no trading observed in interest rate futures at MSEI during the month under consideration.

Figure 8: Trends of Interest Rate Futures at NSE and BSE (` crore)


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V. Trading in Corporate Debt Market

During May 2019, BSE noted 4,839 trades of corporate debt with a traded value of ̀ 65,109 crore as compared to noted 3,944 trades of corporate debt with a traded value of ` 53,756 crore in April 2019. At NSE, 6,650 trades were noted with a traded value of ` 1,29,918 crore in

May 2019 as compared to 5,380 trades were noted with a traded value of ` 90,748 crore in April 2019. Together, the trading in corporate debt at BSE and NSE amounted to ` 1,95,027 crore during May 2019.

VI. Trends in Institutional Investment

A. Trends in Investment by Mutual Funds

The total net investment in the secondary market by mutual funds was `36,504 crore in May 2019, compared to the total net investment of`46,220 crore in April 2019. During May 2019, mutual funds invested `5,164 crore in equity as compared `4,600 crore liquidation from equity in April 2019. In addition, mutual funds net invested `31,340 crore in debt securities as compared to `50,820 crore net investment during the same period.

During May 2019, there was a net inflow of ` 79,619 crore in open ended mutual fund schemes. Of these total open ended schemes inflow, income / debt oriented schemes mobilised `70,119 crore followed by Growth/Equity Oriented (`5,408 crore), Other Schemes (` 2,651 crore), Hybrid Schemes (`1,266 crore) and Solution Oriented Schemes (` 175 crore). On the other hand, in the Close Ended Schemes, there was a net outflow of ` 2,440 crore in May 2019. Of these outflows, income / debt oriented closed ended schemes liquidated of `2,001 crore, followed by Growth/Equity Oriented closed

ended Schemes (` 439 crore). In aggregating (open ended, closed ended and interval schemes), there was a net inflow of ` 76,990 crore during May 2019 in the Mutual Fund Industry.

The cumulative net assets under management of all mutual funds increased to `25,93,560 crore at the end of May 2019 from `24,78,757 crore at the end of April 2019, indicating an increase of 4.6 per cent during the month.

As on April 30, 2019, there were a total of 1954 mutual fund schemes in the market, of which 1,204 were income / debt oriented schemes, 435 were growth / equity oriented schemes, 126 were Hybrid schemes, 133 were Others (exchange traded funds & FoF investing overseas) 30 were Solution Oriented Schemes and 26 were interval schemes

.

Figure 9: Trends in Reported Turnover of Corporate Bonds (` crore)


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Figure 10: Trends in Mutual Funds Investment (` crore)

B. Trends in Investment by the Foreign Portfolio Investors (FPIs)

Foreign portfolio investors (FPIs) also a net buyer for May 2019. FPIs invested ` 11,370 crore in Indian securities market during May 2019 compared to an investment of ` 16,728 crore in April 2019. FPIs invested ` 7,920 crore worth of equity securities in May 2019 compared to an investment of ` 21,193 crore in April 2019. In addition, FPI invested ` 2,264 crore during May 2019 in hybrid securities compared to ` 634 crore in April 2019.

Further, FPIs invested ` 1,187 crore in debt securities during May 2019 as compared to an outflow of ` 5,009 crore in April 2019.

The assets of the FPIs in India, as reported by the custodians, at the end of May 2019 was ` 34,17,679 crore, out of which the notional value of offshore derivative instruments (including ODIs on derivatives) was ` 82,426 crore.

Figure 11: Trends in FPIs Investment (` crore)


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VII. Trends in Portfolio Management Services

During May 2019, the total AUM of the portfolio management industry stood at ` 16,08,234 crore compared to ` 16,23,331 crore as at end April 2019, indicating a decrease of 0.9 per cent during the period. As on May 31 2019, the AUM of non-discretionary and Advisory services were ` 1,11,284 crore and 1,86,442 crore respectively, an increase by 0.5 per cent and 1 per cent respectively from April 2019. However, the AUM of Discretionary services decreased by 1.3 per cent and stood at ` 13,10,508 crore from its previous month.

In terms of number of clients in PMS industry at the end of May 2019, discretionary services category topped with 1,43,065 clients, followed by non-discretionary category with 7,242 clients and advisory category with 3,973 clients.

VIII. Trends in Substantial Acquisition of Shares and Takeoverss

During May 2019, five open offers with offer value of ` 249 crore was made to the shareholders as against four open offer with offer value of ` 56 crore made in April 2019. Of these five offers, all of them were came for change in control of management.

Figure 12: Details of Open Offers Made under the SEBI (SAST) Regulations

IX. Commodities Derivatives Markets

A. Market Trends

During May 2019, MCX Comdex, witnessed a fall of 5.1 per cent (M-o-M) driven by decline in prices of metal, bullion (silver) and energy segments. In agri segment, out of four traded commodities, cardamom and cotton witnessed a firm trend, while, CPO and mentha oil showed a declining trend. On Y-o-Y basis, MCX Comdex decreased by 7.4 per cent, mainly on account of decline in prices of all the constituent commodities except gold, zinc, cardamom, cotton and mentha oil over the past year.

During the month, MCX Energy index, decreased on account of steep fall in prices of crude oil (15.5 per cent) and natural gas (4.7 per cent). Witnessing similar trend, the downtrend in MCX metal index was due to decrease in futures prices of all the base metals. MCX

Agri recorded marginal fall as futures prices of mentha oil and CPO declined by 9.9 per cent and 2.6 per cent respectively during the month, which was partially offset by rise in prices of cardamom (24.8 per cent) and cotton (0.2 per cent).

NKrishi index increased by 3.3 per cent (M-o-M) as 7 out of 10 constituent commodities (cotton seed oilcake, turmeric, chana, RM seed, jeera, coriander and soybean) witnessed an uptrend in futures prices. On Y-o-Y basis, the NKrishi index registered a gain of 25.7 per cent at the end of May 2019 mainly on account of increase in prices of all the traded commodities except refined soy oil and turmeric. Monthly trends in MCX Comdex and NKrishi Index are provided in Table 66

.


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Figure 13: Movement of Commodity Derivatives Market Indices

the previous month for benchmark commodity indices are shown in the Figure 14 below:

Source: MCX and NCDEX

During May 2019, average daily volatility in MCX Comdex and NKrishi indices was recorded at 0.7 and 0.6 per cent respectively. The daily volatility and price variation over

Figure 14: Variation (point-to-point) and daily volatility of commodity indices in May 2019 (per cent)

Source: MCX and NCDEX

Turnover During May 2019, the aggregate turnover of all commodity exchanges increased by 18.4 per cent to ` 7,02,947 crore as turnover at all the exchanges except NSE increased significantly during the month. The agricultural segment contributed 9.0 per cent to the total turnover, while non-agricultural segment accounted for 91.0 per cent.

The total turnover (futures & options) at MCX increased by 20.1 per cent to ̀ 6,43,655 crore during May 2019. The turnover at futures segment increased by 18.9 per cent as except metal, all other segments viz., Agri., Bullion and Energy recorded a rise during the month. Witnessing similar trend, notional turnover of option contracts


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traded at MCX rose by 94.1 per cent during the month as turnover at bullions and energy segment jumped up by 144.0 per cent and 73.3 per cent, respectively. The options turnover in metal segment, however, decreased by 44.0 per cent. The options contracts contributed 2.6 per cent to the total turnover at MCX. During the month, the total turnover (futures & options contracts) at NCDEX increased by 1.3 per cent to ̀ 48,405 crore, due to rise in volumes and traded value mainly in

Figure 15: Trends in turnover of agricultural commodity derivatives (`crore)

Source: MCX, NCDEX, BSE & ICEX

Figure 16: Trends in turnover of non-agricultural commodity derivatives - futures and options

Source: MCX, ICEX, BSE & NSE

chana, cotton seed oilcake, jeera, RM seed, refined soy oil and turmeric. Turnover in option segments at NCDEX increased from 0.8 crore to 1.5 crore in May 2019. In May 2019, commodity futures turnover at BSE and ICEX increased by 13.0 per cent and 7.8 per cent respectively, while that of NSE declined by 9.7 per cent.The turnover of agricultural and non-agricultural commodities at exchanges is shown in Figures 15, 16 and the details are given in Tables 67 to 71.

The following chart provides a snapshot of the percentage gain/loss in futures prices in near month contracts of the commodities traded at the exchanges.


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Figure 17: Movement of Near Month futures prices (M-o-M) for commodities traded on domestic exchanges during May 2019 (per cent)

Source: MCX, NCDEX, ICEX, BSE and NSE


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OVERVIEW OF THE GLOBAL FINANCIAL MARKETSThe World Bank in its June 2019 Global Economic Prospects has downgraded the global growth for 2019 to 2.6 per cent, (which is 30 basis points (bps) below the previous forecasts) considering the weaker than expected international trade and investment at the start of 2019. The World Bank observed that several downside risks to

Table 1: Real GDP

(Per cent change from previous year)

Region / Country Percentage point differences from January 2019 projections

2015 2016 2017 2018e 2019f 2020f 2021f 2018e 2019f 2020f 2021fWorld 2.9 2.6 3.1 3.0 2.6 2.7 2.8 0.0 -0.3 -0.1 0.0 Advanced Economies 2.3 1.7 2.3 2.1 1.7 1.5 1.5 -0.1 -0.3 -0.1 0.0 United States 2.9 1.6 2.2 2.9 2.5 1.7 1.6 0.0 0.0 0.0 0.0 Euro Area 2.1 2.0 2.4 1.8 1.2 1.4 1.3 -0.1 -0.4 -0.1 0.0 Japan 1.2 0.6 1.9 0.8 0.8 0.7 0.6 0.0 -0.1 0.0 0.0 Emerging Market and Developing Economies (EMDE) 3.8 4.1 4.5 4.3 4.0 4.6 4.6 -0.1 -0.3 0.0 0.0

BRICS 4.0 4.6 5.3 5.4 5.1 5.3 5.3 0.1 -0.1 0.0 0.0 China 6.9 6.7 6.8 6.6 6.2 6.1 6.0 0.1 0.0 -0.1 0.0 Russia -2.5 0.3 1.6 2.3 1.2 1.8 1.8 0.7 -0.3 0.0 0.0 Brazil -3.5 -3.3 1.1 1.1 1.5 2.5 2.3 -0.1 -0.7 0.1 -0.1 India2 8.0 8.2 7.2 7.2 7.5 7.5 7.5 -0.1 0.0 0.0 0.0 South Africa 1.3 0.6 1.4 0.8 1.1 1.5 1.7 -0.1 -0.2 -0.2 -0.1

Notes: e = estimate; f = forecast. BRICS include: Brazil, Russia, India, China, and South Africa.1. Aggregate growth rates calculated using constant 2010 U.S. dollar GDP weights.2. The column labelled 2016 refers to FY2016/17.Source: World Bank.

growth are becoming predominate, including rising trade barriers, a build-up of government debt, and deeper-than expected slowdowns in several major economies. However, as the headwinds dissipate, the global growth is projected to edge up to 2.7 per cent in 2020 and to 2.8 per cent in 2021.

The growth forecasts for advanced economies have also been lowered by 30 bps from the previous estimates to 2.8 per cent in 2019. Parts of the Euro Area has recorded slowing down of activities due to weakening exports and investment. Meanwhile, major central banks have signalled a more dovish stance amid subdued inflation and decelerating activity. Although the US economy is performing well with government spending and corporate tax cuts and unemployment figures reaching its lowest level in nearly five decades, the effects of recent fiscal stimulus are waning. On a negative note, amid rising trade tensions, exports have slowed, especially those to Europe and Asia. The Euro Area has witnessed rapid economic slowdown since mid-2018 undermined by decline in exports and domestic demand. Growth is projected to slow from 1.8 per cent in 2018 to 1.2 per cent in 2019 and to edge up to an average of 1.4 per cent in 2020-21. A no-deal Brexit from the EU could

have a severe impact on the United Kingdom and, to a lesser extent, on its European trading partners. Activities in Japan, on the other hand has marginally improved backed by government support in the first half of 2019. However, trade, especially with China remained weak. On a positive note, the unemployment is low and labour force participation continues to go up.

The World Bank has expressed its concern for emerging market and developing economies (EMDEs) in particular. According to the said report, investment growth in EMDEs over the next three years is expected to be subdued and below historical averages. The restraining factors against investment growth are weak global growth, limited fiscal space against the backdrop of elevated debt, and the presence of several structural constraints. EMDE growth is expected to slow from 4.3 per cent in 2018 to 4 per cent in 2019, indicating a 30 bps fall from the previously projected rate with notable


478

heterogeneity across regions. In China, growth appears to be stabilizing following a weak start at the beginning of the year. However, trade with the external world remains weak and equity prices and the currency have faced downward pressures amid the recent re-escalation of the trade tension. The World Bank has projected that growth in India would be at 7.5 per cent in 2019-20, unchanged from the previous forecast, and to stay at this pace through the next two fiscal years. The inflation has fallen below the target rate of Reserve Bank of India. Private consumption and investment are going to benefit from strengthening credit growth amid more accommodative monetary policy.

Equity Markets:

Global equity markets witnessed a mixed trend during May 2019. While the develop markets exhibited a negative trend, the major emerging markets showcased a positive return. The investor sentiment continued to be affected negatively from the ongoing US-China trade tensions. The US equity markets moved on a weaker note, mostly owing to the concerns related to slowing of global demand as a result of the trade dispute. Eurozone equities also declined reflecting the lacklustre economic data. UK equities also performed poorly during the month while the Japanese stocks fell on the global trade

tensions.

Emerging markets equities fell in May 2019 as US-China trade talks were futile and global growth concerns increased. The MSCI Emerging Markets Index declined and underperformed the MSCI World Index. The Chinese stock market was affected by imposition of tariffs on Chinese exports to US. The US increased tariffs on US$ 200 billion of Chinese goods imports from 10 per cent to 25 per cent. It also threatened to levy tariffs on the remaining US$ 300 billion of goods imported from China. China retaliated by raising tariffs on US$ 60 billion of US goods imports from an existing 5-10 per cent range to a maximum of 25 per cent. All these developments dented the Chinese stock market. By contrast, Russia posted a solid gain, benefitting from a strong rally in state controlled oil company. Brazil and India also outperformed.

Among the developed market indices, Hang Seng Index of Hong Kong fell by 9.4 per cent at the end of May 2019 over its previous month’s closing, followed by Straits Times Index of Singapore (8.3 per cent) and Nikkei Index of Japan (7.4 per cent). As regards major emerging economies, Russian Traded index went up by 4.5 per cent followed by S&P BSE Sensex (1.7 per cent) and Nifty 50 index (1.5 per cent) (Table A2).

Table A2: Performance of Stock Indices

Country Name of the IndexClosing Value

as on Closing Value before Annualised Volatility

(%)

P/E Ratio

May 31, 2019 1-Month 3-Month 6-Month 1-YearBRICS Nations

Brazil BRAZIL IBOVESPA INDEX 97030.3 96353.3 95584.4 89504.0 76753.6 22.1 17.7Russia RUSSIAN TRADED INDEX 1925.3 1842.2 1741.8 1643.4 1674.9 18.1 5.3India Nifty 50 11922.8 11748.2 10792.5 10876.8 10736.2 14.0 India S&P BSE SENSEX INDEX 39714.2 39031.6 35867.4 36194.3 35322.4 13.7 China SHANGHAI SE COMPOSITE 2898.7 3078.3 2941.0 2588.2 3095.5 24.7 14.0South Africa FTSE/JSE AFRICA ALL SHR 55650.4 58528.4 56002.1 50663.9 56157.9 14.0 16.7

Developed MarketsUSA NASDAQ COMPOSITE INDEX 7453.1 8095.4 7532.5 7330.5 7442.1 19.0 29.1USA DOW JONES INDUS. AVG 24815.0 26592.9 25916.0 25538.5 24415.8 14.2 15.8France CAC 40 INDEX 5207.6 5586.4 5240.5 5003.9 5398.4 13.7 17.4Germany DAX INDEX 11726.8 12344.1 11515.6 11257.2 12604.9 14.9 15.6UK FTSE 100 INDEX 7161.7 7418.2 7074.7 6980.2 7678.2 11.6 16.9Hong Kong HANG SENG INDEX 26901.1 29699.1 28633.2 26506.8 30468.6 16.9 10.6South Korea KOSPI INDEX 2041.7 2203.6 2195.4 2096.9 2423.0 14.4 17.5Japan NIKKEI 225 20601.2 22258.7 21385.2 22351.1 22201.8 15.9 19.4Singapore Straits Times Index STI 3117.8 3400.2 3212.7 3117.6 3428.2 11.2 12.7Taiwan TAIWAN TAIEX INDEX 10498.5 10967.7 10389.2 9888.0 10875.0 15.1 15.2

Source: Bloomberg, BSE and NSE


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Chart 2: Stock Market Trend in Select Emerging Markets

Source: Bloomberg Note: All indices have been indexed with base as January 01, 2019.

Source: Bloomberg Note: All indices have been indexed with base as January 01, 2019

Chart 1: Stock Market Trend in Select Developed Markets

Fund Mobilisation by Issuance of Equity and Bond:

As per the data available from World Federation of Exchanges, during April 2019 US$ 60.9 billion (US$ 52.4 billion through issuance of bonds and US$ 8.5 billion through issuance of equity) was mobilized through LSE Group, followed by Korea Exchange (US$ 47.4 billion)

and Singapore Exchange (US$ 45.5 billion). As regards BRICS nations, US$ 28.4 billion was mobilized through Moscow Exchange followed by National Stock Exchange of India (US$ 22.6 billion) and Shenzhen Stock Exchange (US$ 8.6 billion) (Table A3)


480

Table A3: Fund Mobilisation by Issuance of Equity and Bond in Major Exchanges

(US$ Million)

Country ExchangeMar-19 Apr-19

Equity Bond Total Equity Bond Total

Dev

elop

ed M

arke

ts

USA Nasdaq - US 2,908 NA 2,908 2,703 NA 2,703

USA NYSE 7,104 NA 7,104 7,403 NA 7,403

UK LSE Group 2,273 42,610 44,882 8,511 52,436 60,947

France Euronext 1,410 NA 1,410 5,155 NA 5,155

Germany Deutsche Boerse AG NA 32,279 32,279 NA 25,867 25,867

Spain BME Spanish Exchanges 2,038 40,049 42,088 413 24,785 25,198

Japan Japan Exchange Group Inc. 3,640 5,814 9,454 - NA -

Singapore Singapore Exchange 19 48,130 48,148 155 45,303 45,458

Australia Australian Securities Exchange 2,923 NA 2,923 2,048 NA 2,048

Hong Kong Hong Kong Exchanges and Clearing 2,605 14,839 17,443 5,834 17,586 23,420

Korea Korea Exchange 776 51,562 52,338 7 47,361 47,367

BR

ICS

Brazil BM&FBOVESPA S.A. 183 325 508 281 - 281

Russia Moscow Exchange NA 21,140 21,140 NA 28,433 28,433

India BSE India Limited 39 1,287 1,326 444 6,262 6,706

India National Stock Exchange of India Limited 3,971 24,822 28,793 1,193 21,425 22,618

China Shanghai Stock Exchange 1,807 NA 1,807 3,807 NA 3,807

China Shenzhen Stock Exchange - 4,926 4,926 2,770 5,835 8,604

South Africa Johannesburg Stock Exchange 762 10,884 11,646 331 7,465 7,796

Note: Fund mobilisation data for equities are (i) excluding investment funds and (ii) including Alternative and SME Markets except the following exceptions:1. 1. Australian Securities Exchange: including investment funds2. BME: Including investment companies listed (open-end investment companies). 3. Bolsa de Valores de Lima: Includes 26 foreign companies with shares negotiated under a special modality4. Euronext: includes Belgium, England, France, Netherlands and Portugal5. Korea Exchange: including Kosdaq market data6. LSE Group: includes London Stock Exchange and Borsa Italiana7. Nasdaq Nordic Exchanges include Copenhagen, Helsinki, Iceland, Stockholm, Tallinn, Riga and Vilnius Stock Exchanges8. NSE India: including “Emerge” market data9. Singapore Exchange: market capitalization includes domestic listings and a substantial number of foreign listings, defined as companies whose principal place

of business is outside of Singapore. Inactive secondary foreign listings are excluded.For Funds mobilised through issuance of bonds, due to different reporting rules & calculation methods, turnover figures are not entirely comparable. The sale & purchase of a share are counted as one transactionNA = Not AvailableSource: World Federation of Exchanges


481

Market Capitalisation of Major Exchanges:

Market capitalisation of the major economies exhibited an upward trend across the world during April 2019. Among developed nations, market cap of the Deutsche Boërse AG increased by 6.5 per cent followed by Nasdaq Stock Exchange of the US (4.9 per cent) and the Euronext (4.0 per cent). Market cap of New York Stock Exchange on

the other hand fell by 3.2 per cent.

Among BRICS nations, market capitalisation of BM&FBOVESPA S.A. of Brazil grew by 19.3 per cent, followed by Shanghai Stock Exchange (4.3 per cent) and Moscow Exchange (3.6 per cent).

Table A4: Domestic Market Capitalisation of Major Exchanges

(US$ Billion)

Country Exchange Mar-19 Apr-19

Dev

elop

ed M

arke

ts

USA Nasdaq - US 11,218,243 11,769,584USA NYSE 23,211,054 22,477,385UK LSE Group 3,965,348 4,037,920Pan Europe* Euronext 4,268,406 4,437,440Germany Deutsche Boerse AG 1,867,308 1,989,342Spain BME Spanish Exchanges 770,908 790,149Japan Japan Exchange Group Inc. 5,608,260 5,668,412Singapore Singapore Exchange 715,124 733,266Hong Kong Hong Kong Exchanges and Clearing 4,307,771 4,378,037South Korea Korea Exchange 1,468,213 1,478,480Australia Australian Securities Exchange 1,384,115 1,408,545

BR

ICS

Brazil BM&FBOVESPA S.A. 820,649 979,051Russia Moscow Exchange 636,896 659,560India BSE India Limited 2,179,096 2,185,547India National Stock Exchange of India Limited 2,156,172 2,157,630China Shanghai Stock Exchange 5,013,731 5,230,942China Shenzhen Stock Exchange 3,355,376 3,398,314South Africa Johannesburg Stock Exchange 950,525 982,564

Notes:1. 1. Euronext: includes Belgium, England, France, Netherlands and Portugal2. Johannesburg Stock Exchange: figures include the market capitalization of all listed companies, but exclude listed warrants, convertibles and investment

funds3. Korea Exchange: including Kosdaq market data4. LSE Group: includes London Stock Exchange and Borsa Italiana5. NSE India: including “Emerge” market data6. Singapore Exchange: market capitalization includes domestic listings and a substantial number of foreign listings, defined as companies whose principal place

of business is outside of Singapore. Source: World Federation of Exchanges


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Equity Derivatives:

As per the latest data available from the World Federation of Exchanges, during April 2019 the following performance was recorded in equity derivatives markets across the globe (Table A5 and A6):

Single Stock Options:

• Amongst exchanges in the Americas, BM&FBOVESPA recorded trading of 77.0 million contracts, followed by Nasdaq - US (60.4 million contracts) and Chicago Board Options Exchange (39.8 million contracts).

• Amongst exchanges in the Europe - Africa - Middle East, EUREX recorded trading of 15.1 million contracts, followed by Euronext (6.1 million contracts) and Nasdaq Nordic Exchanges (1.9 million contracts).

• Amongst exchanges in the Asia Pacific, the National Stock Exchange of India recorded trading of 15.0 million contracts, followed by Hong Kong Exchanges and Clearing (9.3 million contracts) and Australian Securities Exchange (5.8 million contracts)

Single Stock Futures:

• Amongst exchanges in the Americas, Bourse de Montreal recorded trading of 0.4 million contracts, followed by Bolsa de Valores de Colombia (9.4 thousand contracts) and MexDer (2.7 thousand contracts).

• Amongst exchanges in the Europe - Africa - Middle East, EUREX recorded trading of 38.6 million contracts, followed by Moscow Exchange (20.2 million contracts) and ICE Futures Europe (12.5 million contracts).

• Amongst exchanges in the Asia Pacific, Korea Exchange recorded trading of 63.0 million contracts, followed by National Stock Exchange of India (18.8 million contracts) and Thailand Futures Exchange (2.3 million contracts).

Index Options:

• Amongst exchanges in the Americas, Chicago Board Options Exchange recorded trading of 35.2 million contracts, followed by CME Group (9.6 million contracts) and BM&FBOVESPA (3.8 million contracts).

• Amongst exchanges in the Europe - Africa - Middle East, EUREX recorded trading of 38.9 million contracts, followed by Tel-Aviv Stock Exchange (1.8 million contracts) and Moscow Exchange (1.5 million contracts).

• Amongst exchanges in the Asia Pacific, National Stock Exchange of India recorded trading of 298.8 million contracts, followed by Korea Exchange (62.6 million contracts) and TAIFEX (13.5 million contracts).

Index Futures:

• Amongst exchanges in the Americas, BM&FBOVESPA recorded trading of 137.3 million contracts, followed by CME Group (39.1 million contracts) and CBOE Futures Exchange (4.6 million contracts).

• Amongst exchanges in the Europe - Africa - Middle East, EUREX recorded trading of 29.3 million contracts, followed by ICE Futures Europe (12.7 million contracts) and Moscow Exchange (7.9 million contracts).

• Amongst exchanges in the Asia Pacific, Japan Exchange Group recorded trading of 20.4 million contracts, followed by Singapore Exchange (16.4 million contracts) and Hong Kong Exchanges and Clearing (9.2 million contracts).

Currency Derivatives:

As per the latest data available from the World Federation of Exchanges, during April 2019, exchanges across the world showed the following trend in trading of currency derivatives (Table A7):

Currency Options:

• Amongst exchanges in the Americas, CME Group recorded trading of 1.2 million contracts, followed by MexDer (3.0 thousand contracts) and Bolsa de Valores de Colombia (362 contracts).

• Amongst exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 2.2 million contracts, followed by Johannesburg Stock Exchange (1.5 million contracts) and Tel-Aviv Stock Exchange (0.7 million contracts).

• Amongst exchanges in the Asia Pacific, BSE India Limited recorded trading of 54.8 million contracts, followed by National Stock Exchange of India (50.3 million contracts).


483

Currency Futures:

• Amongst exchanges in the Americas, CME Group recorded trading of 14.5 million contracts, followed by ICE Futures US (0.3 million contracts) and MexDer (0.2 million contracts).

• Amongst exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 36.5 million contracts, followed by Borsa Istanbul (8.7 million contracts) and Johannesburg Stock Exchange (1.8 million contracts).

• Amongst exchanges in the Asia Pacific, National Stock Exchange of India recorded trading of 50.9 million contracts, followed by BSE India Limited (28.5 million contracts) and Korea Exchange (7.3 million contracts).

Interest Rate Derivatives:

As per the latest data available from the World Federation of Exchanges, during April 2019, exchanges across the world showed the following trend in trading of interest rate derivatives (Table A8):

Interest Rate Options:

• Among exchanges in the Americas, CME Group recorded trading of 48.9 million contracts followed by Bourse de Montreal (58.1 thousand contracts).

• Among exchanges in the Europe, Africa and Middle East, ICE Futures Europe recorded trading of 6.0 million contracts followed by EUREX (4.9 million contracts) and Nasdaq Nordic Exchanges (0.7 million contracts).

• Among exchanges in the Asia Pacific, Australian Securities Exchange recorded trading of 0.1 million contracts, followed by Japan Exchange Group (53.6 thousands contracts).

Interest Rate Futures:

• Among exchanges in the Americas, CME Group recorded trading of 120.2 million contracts, followed by Bourse de Montreal (4.2 million contracts) and MexDer (17.6 thousand contracts).

• Among exchanges in the Europe - Africa - Middle East, EUREX recorded trading of 32.3 million

contracts, followed by ICE Futures Europe (29.0 million contracts) and Johannesburg Stock Exchange (1.7 million contracts).

• Among exchanges in the Asia Pacific, Australian Securities Exchange recorded trading of 11.1 million contracts, followed by Korea Exchange (3.3 million contracts) and National Stock Exchange (1.2 million contracts).

Commodity Derivatives:

As per the latest data available from the World Federation of Exchanges, during April 2019, exchanges across the world showed the following trend in trading of commodity derivatives (Table A9):

Commodity Options:

• Among exchanges in the Americas, CME Group recorded trading of 11.0 million contracts, followed by ICE Futures US (1.0 million contracts).

• Among exchanges in the Europe - Africa - Middle East, ICE Futures Europe recorded trading of 3.1 million contracts, followed by Moscow Exchange (0.5 million contracts) and London Metal exchange (0.5 million contracts).

• Among exchanges in the Asia – Pacific, Dalian Commodity Exchange recorded trading of 1.1 million contracts, followed by Zhengzhou Commodity Exchange (0.8 million contracts) and Singapore Exchange (0.4 million contracts).

Commodity Futures:

• Among exchanges in the Americas, CME Group recorded trading of 86.0 million contracts, followed by ICE Futures US (8.9 million contracts).

• Among exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 41.0 million contracts, followed by ICE Futures Europe (37.2 million contracts) and London Metal exchange (13.6 million contracts).

• Among exchanges in the Asia – Pacific, Shanghai Futures Exchange recorded trading of 102.0 million contracts, followed by Dalian Commodity Exchange (96.8 million contracts) and Zhengzhou Commodity Exchange (89.6 million contracts).


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Table A5: Stock Options and Stock Futures Traded in Major Exchanges

Notional Turnover (in USD Million)

Exchange

April 2019Stock options Single stock futures

Number ofcontracts

traded

Notionalturnover

Openinterest

Number ofcontracts

traded

Notionalturnover

Openinterest

AmericasBATS Global Markets - US 25,809,053 NA NA NA NA NABM&FBOVESPA 77,039,289 60,255 13,344,900 - - -Bolsa de Comercio de Buenos Aires 2,267,057 - - - - -Bolsa de Valores de Colombia - - - 9,376 11 24,644Bourse de Montreal 2,569,320 NA NA 393,614 NA NAChicago Board Options Exchange 39,756,662 NA 160,380,000 NA NA NAInternational Securities Exchange 26,380,007 NA NA NA NA NAMexDer 76,700 10 155,490 2,650 0 1,159Miami International Securities Exchange 9,583,499 NA NA NA NA NANasdaq - US 60,424,721 NA NA NA NA NANYSE 37,379,647 9,717 NA NA NA NATotal region 281,285,955 405,640

Asia - PacificAustralian Securities Exchange 5,831,019 10,642 7,686,590 46,127 80 612,129BSE India Limited - - NA 51 0 6Hong Kong Exchanges and Clearing 9,283,444 32,392 8,443,880 82,029 379 20,721Japan Exchange Group 16,398 NA 113,229 NA NA NAKorea Exchange 2,253,094 NA 407,611 62,961,677 30,317 4,511,080National Stock Exchange of India 14,974,255 2,217 349,988 18,819,091 166,252 1,840,700TAIFEX 15,860 52 5,242 1,742,850 13,219 129,707Thailand Futures Exchange NA NA NA 2,384,811 NA 2,321,380Total region 32,374,070 86,036,636

Europe - Africa - Middle EastAthens Derivatives Exchange 1,229 1 1 614,232 125 361,671BME Spanish Exchanges 810,313 825 7,135,270 2,502,077 1,278 1,867,880Borsa Istanbul 171,992 15 338,314 11,705,920 1,559 1,058,140Budapest Stock Exchange - - - 11,014 79 6,467Dubai Gold & Commodities Exchange NA NA NA 196,275 339 556EUREX 15,063,368 71,940 59,645,200 38,558,521 119,691 22,454,500Euronext 6,109,649 24,896 15,002,500 265,981 1,418 286,925ICE Futures Europe 1,225,392 NA NA 12,481,842 NA NAJohannesburg Stock Exchange 260,916 1,458 - 225,044 588 -Moscow Exchange 185,794 61 163,318 20,161,905 6,447 1,873,270Nasdaq Nordic Exchanges 1,896,148 2,672 3,504,970 127,947 224 310,466Oslo Bors 149,169 255 256,696 24,068 30 71,703Tehran Stock Exchange 163,615 1 NA NA NA NATel-Aviv Stock Exchange 33,287 171 43,034 NA NA NAWarsaw Stock Exchange - - - 89,232 193 26,980Total region 26,070,872 86,964,058Total 339,730,897 173,406,334

NA: Not Available Source: World Federation of Exchanges


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Table A6: Index Options and Index Futures Traded in Major Exchanges


Exchange

April 2019Stock index options Stock index futures

Number ofcontracts

traded

Notionalturnover

Openinterest

Number ofcontracts

traded

Notionalturnover

Openinterest

AmericasBATS Global Markets - US 27,393 NA NA NA NA NABM&FBOVESPA 3,799,986 25,581 434,523 137,325,540 722,515 -Bolsa de Comercio de Buenos Aires - - - 36,177 25,939 -Bolsa de Valores de Colombia NA NA NA 245 3 264Bourse de Montreal 6,523 NA NA 388,889 NA NACBOE Futures Exchange NA NA NA 4,567,106 NA 452,349Chicago Board Options Exchange 35,273,134 NA 26,628,700 NA NA NACME Group 9,559,819 1,738,890 4,174,110 39,137,020 5,517,070 4,142,400ICE Futures US NA NA NA NA 113,266 1,810,310International Securities Exchange 80,655 NA NA NA NA NAMexDer 194 5 1,892 47,905 1,116 36,160Miami International Securities Exchange 204 NA NA NA NA NANasdaq - US 190,724 NA NA NA NA NATotal region 48,938,632 181,502,882

Asia - PacificAustralian Securities Exchange 755,759 32,705 842,304 778,866 84,202 388,941BSE India Limited - - NA 7 0 NABursa Malaysia Derivatives 1,709 0 767 188,973 3,719 25,406China Financial Futures Exchange NA NA NA 5,223,711 904,763 292,913Hong Kong Exchanges and Clearing 2,560,603 276,463 2,907,370 9,163,348 1,105,220 702,727Japan Exchange Group 2,315,070 NA 2,073,220 20,424,482 815,751 1,913,650Korea Exchange 62,642,044 3,738,900 3,479,070 7,394,577 307,331 665,201National Stock Exchange of India 298,812,862 8,071 1,848,930 5,521,413 58,263 357,414Singapore Exchange 830,244 NA 1,852,500 16,440,508 NA 2,455,890TAIFEX 13,515,489 238,127 767,686 5,093,032 230,275 161,139Thailand Futures Exchange 90,317 NA 54,214 2,105,614 NA 344,081Total region 381,524,097 72,334,531

Europe - Africa - Middle EastAthens Derivatives Exchange 3,964 17 2,232 34,797 154 8,020BME Spanish Exchanges 239,532 2,496 948,157 569,188 48,979 140,164Borsa Istanbul 23,226 48 23,888 5,105,156 10,426 494,290Budapest Stock Exchange - - - 16,461 24 18,895EUREX 38,909,367 1,374,980 52,702,500 29,323,476 1,522,440 10,799,400Euronext 1,222,526 75,314 825,696 3,118,975 238,606 823,276ICE Futures Europe 939,139 NA NA 12,768,095 NA NAJohannesburg Stock Exchange 456,945 113 - 658,679 16,775 -Moscow Exchange 1,488,038 3,620 471,946 7,946,829 18,300 413,228Nasdaq Nordic Exchanges 525,101 9,075 634,883 3,375,998 57,291 689,335Oslo Bors 54,870 537 82,700 197,360 1,873 38,534Tehran Stock Exchange NA NA NA 554 1 NATel-Aviv Stock Exchange 1,893,575 83,501 162,427 NA NA NAWarsaw Stock Exchange 14,650 91 12,701 223,696 2,769 58,141Total region 45,770,933 63,339,264Total 476,233,662 317,176,677



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Table A7: Currency Options and Futures Traded in Major Exchanges


Exchange

April 2019

Currency options Currency futures

Number ofcontracts

traded

Notionalturnover

Openinterest

Number ofcontracts

traded

Notionalturnover

Openinterest

Americas

BM&FBOVESPA - - - - - -

Bolsa de Comercio de Buenos Aires - - - - - -

Bolsa de Valores de Colombia 362 0 461 46,644 1,957 6,969

CME Group 1,224,514 139,940 695,909 14,456,901 1,370,667 1,849,600

ICE Futures US 231 22 1,582 331,093 26,947 110,045

MexDer 3,030 30 5,560 213,092 2,147 406,280

Total region 1,228,137 15,047,730

Asia - Pacific

BSE India Limited 54,848,115 54,856 314,411 28,454,552 28,431 962,618

Hong Kong Exchanges and Clearing 1,289 128 4,312 120,921 11,705 35,364

Korea Exchange NA NA NA 7,330,403 71,905 813,638

National Stock Exchange of India 50,251,159 50,210 2,334,301 50,944,880 51,569 2,728,380

Singapore Exchange - NA - 1,518,815 NA 123,264

TAIFEX 14,955 521 2,710 104,936 2,836 7,843

Thailand Futures Exchange NA NA NA 28,282 NA 22,576

Total region 105,115,518 88,502,789

Europe - Africa - Middle East

Borsa Istanbul 204,949 195 274,269 8,653,761 8,671 4,498,026

Budapest Stock Exchange 5,250 6 14,250 391,005 417 684,488

Dubai Gold & Commodities Exchange 1,490 0 424 1,480,142 8,218 346,592

Johannesburg Stock Exchange 1,530,480 3,950 1,594,188 1,865,243 1,910 7,640,361

Moscow Exchange 2,199,411 2,252 1,759,422 36,526,343 37,502 3,126,834

Tel-Aviv Stock Exchange 688,951 6,858 438,400 NA NA NA

Total region 4,630,531 48,916,494

Total 110,974,186 152,467,013



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Table A8: Interest Rate Options and Futures Traded in Major Exchanges


Exchange

April 2019

Interest rate options Interest rate futures

Number ofcontracts

traded

Notional turnover

Open interest

Number of contracts

traded

Notional turnover

Open interest

Americas


Bolsa de Valores de Colombia NA NA NA 6,466 561 8,344

Bourse de Montreal 58,065 NA NA 4,192,892 NA NA

CME Group 48,920,361 9,248,950 62,410,000 120,218,112 22,178,000 31,258,300

MexDer NA NA NA 17,600 101 77,662

Total region 48,978,426 124,435,070

Asia - Pacific

Australian Securities Exchange 120,035 8,460 38,000 11,088,658 3,869,540 4,861,220

BSE India Limited NA NA NA 246,140 680 66,107

China Financial Futures Exchange NA NA NA 1,033,712 155,723 91,353

Hong Kong Exchanges and Clearing NA NA NA 5 1 110

Japan Exchange Group 53,635 NA 8,078 693,570 NA 112,111

Korea Exchange NA NA NA 3,257,036 329,974 465,875

National Stock Exchange of India NA NA NA 1,232,112 3,456 122,799

Singapore Exchange NA NA NA 19,516 NA 20,448

Total region 173,670 17,570,749


EUREX 4,942,988 855,542 2,159,690 32,319,223 5,256,970 6,349,220

ICE Futures Europe 5,958,912 NA NA 29,047,122 NA NA

Johannesburg Stock Exchange 143,016 1,081 163,600 1,783,306 14,281 1,076,240

Moscow Exchange NA NA NA 30,125 9 83,948

Nasdaq Nordic Exchanges 700,728 75,319 - 1,274,885 137,033 1,398,420

Warsaw Stock Exchange - - - - - 101

Total region 11,745,644 64,454,661

Total 60,897,740 206,460,480



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Table A9: Commodity Options and Futures Traded in Major Exchanges


Exchange

April 2019

Commodities options Commodities futures

Number of contracts

traded

Notional turnover

Open interest

Number of contracts

traded

Notional turnover

Open interest

Americas


Bolsa de Valores de Colombia NA NA NA 5 0 167

CME Group 10,969,897 4,666,520 10,762,000 85,994,888 508,977 16,858,200

ICE Futures US 972,258 23,760 1,019,230 8,919,771 188,498 1,838,260

Total region 11,942,155 94,914,664

Asia - Pacific

Australian Securities Exchange 2,977 414 28,337 39,037 1,289 78,415

Bursa Malaysia Derivatives 3,300 NA 6,250 864,153 11,423 232,810

Dalian Commodity Exchange 1,059,649 66 383,115 96,822,795 767,398 5,645,540

Hong Kong Exchanges and Clearing NA NA NA 40,496 1,624 1,379

Indonesia Commodity and Derivatives Exchange NA NA NA 11,040 NA 151

Multi Commodity Exchange of India 121,495 1,246 6,962 20,695,847 75,603 318,726

NZX Limited 3,722 17 8,778 18,536 75 47,334

Shanghai Futures Exchange NA NA NA 101,966,850 1,038,340 4,576,740

Singapore Exchange 441,026 NA 1,042,380 1,457,354 NA 728,033

TAIFEX 3,210 25 687 16,186 241 1,788

Thailand Futures Exchange NA NA NA 387,130 NA 38,862

Zhengzhou Commodity Exchange 826,966 148 174,955 89,620,137 534,401 3,948,900

Total region 2,462,345 311,939,561


Borsa Istanbul NA NA NA 4,580,784 674 360,087

Dubai Gold & Commodities Exchange NA NA NA 18,970 234 1,942

EUREX 106,930 486 1,293,250 377,127 19,920 1,712,280

Euronext 55,182 626 151,227 935,404 11,492 331,661

ICE Futures Europe 3,102,982 NA NA 37,184,725 NA NA

Johannesburg Stock Exchange 28,689 16 55,145 207,476 3,606 91,123

London Metal Exchange 467,079 37,203 317,939 13,674,175 1,120,870 2,143,870

LSE Group NA NA NA 75 3 175

Moscow Exchange 498,009 351 124,706 40,789,358 29,252 1,028,210

Total region 4,258,871 97,768,094

Total 18,663,371 504,622,319


Debt Market:

A substantial re-escalation of trade tensions between the US and China caused a strong risk aversion in markets in May 2019 following several months of strong gains. As a result, bond yields fell markedly. The US 10-year Treasury yield was 38 bps lower, finishing the month at close to 2.1

per cent. In Europe, German Bund 10-year yields moved back below zero to a negative 0.2 per cent, while French and Spanish yields also fell. UK economic data remained resilient, but UK 10-year gilt yields fell 30 bps to 0.89


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Chart 3: Movement of 10 year Government Bond Yields in Developed Nations

Chart 4: Movement of 10 year Government Bond Yields in BRIC Nations

Source: Bloomberg

Source: Bloomberg

per cent as Brexit uncertainty remained heightened with Prime Minister Theresa May announcing her resignation.

Emerging market (EM) bond yields fell, both across

sovereigns and corporates, in investment grade notably. Yields of 10-year Indian government bond fell by 38 bps to 7.03 per cent. Yields of 10-year Chinese government bond also fell by 11 bps to 3.29 per cent..

As of March 2019, China and Japan accounted for 17.3 per cent and 16.7 per cent of total foreign holding of US

Treasury Securities. India accounted for 2.3 per cent of total foreign holding of US Treasury Securities (Table A9).


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Table A9: Major Foreign Holders of US Treasury Securities (US$ billion)

Country\Month2018 2019

May Jun Jul Aug Sep Oct. Nov. Dec. Jan. Feb. Mar.China, Mainland 1183.1 1191.2 1171 1165.1 1151.4 1138.9 1121.4 1123.5 1126.7 1130.9 1120.5Japan 1048.9 1032.5 1035.5 1029.9 1028 1018.5 1036.6 1042.3 1070.2 1072.4 1078.1Brazil 299.2 300.1 299.7 317.8 317 313.9 311.4 303.1 305.1 307.7 317.1United Kingdom 265 274.2 271.7 272.6 276.3 263.9 258.9 271.7 273.5 283.8 311.7Ireland 301 301.1 300.2 311.6 290.4 287.3 279.6 280 270.2 274.1 277.6Luxembourg 208.9 220.9 221.5 224 227.2 225.4 225.7 229.2 224.9 226.8 230.2Switzerland 243.4 235.5 233.1 232 226.9 225.2 227.5 234.9 230.9 225.9 226.4Cayman Islands 186.2 191.1 197.9 197.5 200.2 208.2 207.5 211 208.7 210.1 219.5Hong Kong 191.9 196.4 194.4 193.2 192.3 185 189.2 196.2 200.8 202.4 207.6Belgium 150.5 154.7 154.5 154.3 164.7 169.7 173 185.7 192.1 182 186.6Saudi Arabia 162.2 164.3 166.8 169.5 176.1 171.3 169.9 171.6 162.6 167 170Taiwan 164.8 162.6 164.2 163.2 166.5 162.4 155.4 157.3 168.3 164.9 168.8India 148.9 147.3 142.6 140.6 144 138.2 138.5 141.3 144.9 144.3 152Singapore 118.9 122.1 127.6 129.9 134.5 133 128.8 121.1 128 130.6 138.8France 89.6 93.4 111 113.6 97.7 109.4 131.6 110.9 112.6 115.9 119.9Korea 104.8 106.1 109.1 110.2 110.8 111.1 110.2 114.9 117.3 115.5 109.6Canada 96.7 102.3 96.1 96.2 94.1 101.9 106.3 109.9 113.7 112.2 99.7Norway 49.7 49.7 61.1 66.7 63.6 61.3 47.3 84.9 90.8 97.1 99.5Thailand 62.2 58.6 63 63.3 66.1 65.3 64.9 72 83.7 90.9 84.4Germany 78.3 70.7 71 73.3 68.3 77.5 77.7 69.8 78 81.1 78.1Bermuda 64 60.7 64.4 65.5 64.5 62.6 64.3 65.4 66 66.6 68.1U A E 60 59.6 59.7 59 60 57.7 56.3 56.8 56 54.5 55.6Sweden 45.5 46 44.7 44.6 44.6 43.4 44.5 43.8 43.4 48.3 47.9Netherlands 45.1 44.8 45.1 43.4 43 43 42.8 43.6 43 42.9 44.7Kuwait 43.9 43 42.9 43.5 43.8 44.1 43.9 41.3 40.8 42.3 44.5Italy 39.6 40.6 38.4 37.3 39.6 39.6 40.4 40.3 41.2 42.1 44Australia 37.6 39.8 39.2 38.4 36.8 38.9 41.3 39.7 42.6 41.8 40.9Mexico 43.6 41 39.8 40.7 39.3 41.5 45.7 46.8 41.1 40.5 40.2Spain 34.6 31.9 36.2 37.5 37.3 35.3 34.9 34.7 36.6 37.7 39.3Israel 28.2 28.2 29.6 30.4 31.1 30.8 28.9 29 30 35.4 36.2Iraq 24.5 26.5 28.3 29.8 29.4 31.1 32.1 34.6 34 34.7 34.8Poland 40.2 40.6 40.6 39.9 40.1 40 40.2 39.6 33.8 32.8 33.9Chile 30.2 29.2 28.8 28.7 28.9 29.3 28.9 28.7 29.4 30 31.5All Other 524 518.3 524.7 515.1 491.2 495.4 494.3 486.3 493.7 499.8 515.6Grand Total 6215.1 6224.8 6254.2 6278.3 6225.6 6200.1 6199.7 6262.1 6334.4 6385.1 6473.3Of which: For. Official 3990.9 3988.6 4007.8 4021.1 4010.1 3947.1 3901.2 3949.7 3980 4024.6 4069.3Treasury Bills 346.3 336.3 339.6 329.3 316.7 306.6 311.8 310.4 305.1 315.3 313.4T-Bonds & Notes 3644.6 3652.3 3668.1 3691.8 3693.4 3640.5 3589.4 3639.3 3674.9 3709.2 3756

Note: 1. Data available as on May 15, 2019 2. The data in this table are collected primarily from U.S.-based custodians and broker-dealers. Since U.S. securities held in overseas custody accounts may

not be attributed to the actual owners, the data may not provide a precise accounting of individual country ownership of Treasury securities 3. Estimated foreign holdings of U.S. Treasury marketable and non-marketable bills, bonds, and notes reported under the Treasury International Capital

(TIC) reporting system are based on monthly data on holdings of Treasury bonds and notes as reported on TIC Form SLT, Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents and on TIC Form BL2, Report of Customers’ U.S. Dollar Liabilities to Foreign Residents

Source: Department of the Treasury/Federal Reserve Board


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Currency Market:

During May 2019, the value of major currencies against US dollar (USD) exhibited a mixed trend. The USD lost 0.3 per cent at the end of May 2019 against basket of major currencies as compared to the end value previous month (as reflected by the US Dollar Index). The yen strengthened against other major currencies, reflecting its perceived safe haven status. The yen appreciated by 2.5 per cent against US dollar. On the other hand, the

euro and pound depreciated by 0.49 per cent and 3.26 per cent, respectively against US dollar.

Currencies of the BRICS countries were almost stable during the month of May 2019. The Rupee did not change, while the renminbi depreciated by 2.53 per cent, the real appreciated by 0.36 per cent and the Russian rouble depreciated by 0.92 per cent during the month.

Chart 5: Movement of the Major Currencies against US$

Note: All currencies have been normalised keeping December 31, 2018 as base. Source: Bloomberg

Chart 6: Movement of the US Dollar Index and MSCI EM Currency Index

Note: 1. All currencies have been normalised keeping December 31, 2018 as base. 2. The U.S. Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies. The

Index goes up when the U.S. dollar gains value compared to other currencies. The index is maintained and published by Intercontinental Exchange. It is a weighted geometric mean of the dollar’s value relative to following select currencies: Euro, Japanese yen, Pound sterling, Canadian dollar, Swedish krona, Swiss franc.

3. The MSCI Emerging Markets (EM) Currency Index tracks the performance of twenty-five emerging-market currencies relative to the US Dollar

Source: Bloomberg


492

HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET

1. European Securities and Market Authority (ESMA)

A. ESMA consults on tiering, comparable compliance and fees under EMIR 2.2

The European Securities and Markets Authority (ESMA) has published three consultation papers under EMIR 2.2 on tiering, comparable compliance and fees. EMIR 2.2 amends EMIR’s regulatory and supervisory regime for central counterparties (CCPs). EMIR 2.2 enhances the recognition regime for third country CCPs (TC-CCPs). It introduces a dedicated regime for the third country CCPs which are determined to be, or likely to become, systemically important for the financial stability of the European Union (EU) or of one or more of its Member States, named Tier 2 CCPs.

Tier 2 CCPs will need to comply with the requirements under EMIR or ask for comparable compliance, where compliance with the requirements in a third country satisfies compliance with the requirements under EMIR. EMIR 2.2 also introduces a fee system for TC-CCPs to fund the relevant activities. ESMA has received mandates for technical advice from the European Commission (EC) on tiering, comparable compliance and fees, and is now seeking input from stakeholders by 29 July 2019. These mandates are provisional pending the final publication of EMIR 2.2 in the Official Journal.

Technical advice on tiering

EMIR 2.2 introduces a set of criteria to be considered by ESMA to determine whether a TCCCP is a Tier 2 CCP, considered systemically important or likely to become systemically important for the financial stability of the EU or of one of its Member States, otherwise it will be considered a Tier 1 CCP or non-systemic for the EU. The consultation paper details the different indicators that can be used to specify the criteria ESMA has to consider in the assessment of a TC-CCP and provides insight as to what information ESMA may analyse to determine the systemic

relevance of TC-CCPs.

Technical advice on comparable compliance

EMIR 2.2 also introduces a new system under which a Tier 2 CCP may be deemed to satisfy compliance with EMIR by complying with the regulations and requirements of its own national regulatory system. This new procedure, known as comparable compliance, permits Tier 2 CCPs to request ESMA to assess the extent to which a CCP’s compliance with EMIR requirements is satisfied by the CCP’s compliance with the comparable requirements applicable in the third country. The consultation paper discusses what and how ESMA should assess to apply comparable compliance and proposes the minimum elements to be considered in its assessment as well as the modalities and conditions to carry out this assessment

Technical advice on fees

The consultation paper on fees sets out the approach towards the fees to be paid by the TCCCPs. It details the main supervisory activities that ESMA will need to carry out and the relevant high-level costs for supervision of TC-CCPs. The consultation paper examines the determination of one-off recognition fees and the fees for Tier 1 and Tier 2 TC-CCPs, in addition to how comparable compliance will be reflected in the annual fees. ESMA, using previous experience in determining fees for supervised entities, also clarifies the applicable budgeting approach in the consultation paper

Source : https://www.esma.europa.eu/sites/default/f i les/library/esma71-99-1159_esma_consults_on_tiering_comparable_compliance_and_fees_under_emir_2.2.pdf

2. U.K. Financial Conduct Authority (FCA)

A. FCA begins review of financial advice market:

The Financial Conduct Authority (FCA) has launched a Call for Input asking for feedback on


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its proposed approach to reviewing the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR).

The FCA’s review will consider whether these initiatives have been successful in achieving their objectives. The review will look at what consumers want from the market and how the market works to deliver this. It will also consider how new market trends and developments might affect the future development of advice and guidance services.

The FCA is seeking initial feedback to the Call for Input by the 3 June 2019. The FCA will hold several stakeholder events, and collect further data through consumer research and surveying a sample of firms. It intends to publish its final report in 2020.

Source : https://www.fca.org.uk/news/press-releases/fca-begins-review-financial-advice-market

B. FCA changes mortgage advice rules to encourage consumer choice

The Financial Conduct Authority (FCA) has published proposals for changes to its mortgage sales requirements which will help to give consumers more choice in how they buy a mortgage. The proposals are one part of a package

of remedies from the Mortgages Market Study, published earlier this year, which aims to encourage innovation and make it easier for customers to find the right mortgage.

The FCA identified a number of ways its advice rules are acting as a barrier to the development of new tools to help customers choose and buy a mortgage and the consultation today is designed to address the problems identified. The FCA is proposing to change its rules to make it clear that tools which allow customers to search and filter available mortgages are not necessarily giving advice. It will also be clearer that some forms of interaction, such as firms helping consumers with their applications, do not require advice.

Where a mortgage adviser recommends a mortgage which is not the cheapest of those that meet the customer’s needs and circumstances, they will now be required to explain why any cheaper mortgage has not been recommended. The FCA is also making changes to the standards around execution only policies. The FCA is consulting on the new rules until 7 July 2019 and will publish its feedback and final rules around the end of the year.

Source : https://www.fca.org.uk/news/press-releases/fca-changes-mortgage-advice-rules-encourage-consumer-choice


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POLICY DEVELOPMENTS 1. Permitting Foreign Portfolio Investors (FPI)

to invest in Municipal Bonds

RBI vide A.P. (DIR Series) Circular No. 33 dated April 25, 2019 has permitted FPIs to invest in municipal bonds. It is decided that in accordance with the provisions of Regulation 21(1)(p) of SEBI (Foreign Portfolio Investors) Regulations, 2014, FPIs are, henceforth, permitted to invest in municipal bonds

Source : IMD/FPIC/CIR/P/2019/62, Dated: 08 May 2019

2. Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by Mutual Funds

All registered Mutual Funds offering or using applications or systems as defined in Annexure B(available with online version of circular), should participate in the reporting process by completing the AI / ML reporting form (see Annexure A) (available with online version of circular). With effect from quarter ending June 2019, registered Mutual Funds using AI / ML based application or system as defined in Annexure B, are required to fill in the form (Annexure A) and make submissions on quarterly basis within 15 calendar days of the expiry of the quarter to AMFI.

Source : SEBI/HO/IMD/DF5 CIR/P/2019/ 63 dated 09 May 2019

3. Framework for Innovation Sandbox

SEBI is proposed an “Innovation Sandbox”, which would be a testing environment where FinTech firms and entities not regulated by SEBI including individuals (hereinafterwards referred to as participants/applicants) may use the environment for offline testing of their proposed solutions in isolation from the live market, subject to fulfillment of the eligibility criteria, based on market related data made available by Stock Exchanges, Depositories and Qualified Registrar and Share Transfer Agents (QRTAs).

Source : SEBI/MRD/CSC/CIR/P/2019/64 Dated 20 May 2019

4. Participation of Mutual Funds in Commodity Derivatives Market in India

In order to promote institutional participation in Exchange Traded Commodity Derivatives (ETCDs). In furtherance to this objective, it has been decided to permit mutual funds to participate in ETCDs.

Source : SEBI/HO/IMD/DF2/CIR/P/2019/65 Dated 21 May 2019

5. Framework for the process of accreditation of investors for the purpose of Innovators Growth Platform

SEBI provided detailed framework for Accredited Investors (AIs) for the limited purpose of Innovators Growth Platform (“IGP”). The framework detailed Eligibility, Procedure for accreditation, Validity of Accreditation and Responsibility of Merchant Bankers at the time of listing on IGP with regard to AIs.

Source : SEBI/HO/CFD/DIL2/CIR/ P/ 2019/ 67 Dated 22 May 2019

6. Participation of Portfolio Managers in Commodity Derivatives Market in India

In order to promote institutional participation in the Exchange Traded Commodity Derivatives, SEBI permitted Portfolio Managers to participate in Exchange Traded Commodity Derivatives on behalf of their clients.

Source : SEBI/HO/IMD/DF1/CIR/ P/ 2019/ 066 Dated 22 May 2019

7. Enhanced disclosure in case of listed debt securities

With a view to further secure the interests of investors in listed debt securities, enhance transparency and to enable Debenture Trustees (DTs) to perform their duties effectively and promptly, pursuant to public consultation, amendments to the existing regulatory framework for governing Debenture Trustees (DTs), vide Gazette notifications no. 150, 151, 152 dated May 7, 2019 were carried out. Taking into consideration


495

the comments received from the public, certain guidelines for enhanced disclosure by DT on their websites were issued.

Source : SEBI/ HO/ MIRSD/ DOS3/CIR/ P/2019/68 Dated 27 May 2019

8. Combating Financing of Terrorism (CFT) under Unlawful Activities (Prevention) Act, 1967 –Directions to stock exchanges, depositories and all registered intermediaries

In view of the reorganization of Divisions in the Ministry of Home Affairs and allocation of work

relating to countering of terror financing to the Counter Terrorism and Counter Radicalization (CTCR) Division, the Government has modified the earlier order dated 27 August 2009 by the order dated 14 March 2019 for strict compliance.

Source : SEBI/HO/MIRSD/DOP/CIR/P/ 2019/ 69 Dated 28 May 2019

Disclaimer: The summary has been prepared for the convenience of readers. In case of any ambiguity please refer to the original circular.


496

REGULATORY ACTIONS TAKEN BY SEBI• SEBI passed an order, dated 03 May 2019, in the

matter of dealing in illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Dharti Investment and Holdings Ltd for the violation of Regulations 3(a), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 07 May 2019, in the

matter of dealing in illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Chancellor Commodeal Private Limited for the violation of Regulations 3(a), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 07 May 2019, in the matter of Ranklin Solutions Ltd. imposing following penalties:

Sr.No

Name of Entity Violation Penalty

1 Ranklin Solutions Ltd

Regulation 3(a), (b), (c), (d) and Regulation 4(1) & (2) (f), (r) of the PFUTP Regulations

` 5,00,000 (Rupees Five Lakh)

Clause 36 of the Listing Agreement read with Section 21 of the SCRA


2 MJVVD Prakash Regulation 3(a), (b), (c), (d) and Regulation 4(1) & (2) (f), (r) of the PFUTP Regulations



` 2,50,000 (Rupees Two Lakh and Fifty Thousand)

3 P Venkateswara Rao





4 M Jyotsana Lakshmi





5 JVV Raghava Kumar Regulation 3(a), (b), (c), (d) and Regulation 4(1) & (2) (f), (r) of the PFUTP Regulations




6 M Satish Kumar





7 K S Chakravarthi





8 K Vijaya Rama Raju





• SEBI passed an order, dated 15 May 2019, in the matter of Trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Ram Ratan Chowdhary for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.


497

• SEBI passed an order, dated 15 May 2019, in the matter of Action Financial Services (India) Limited imposing following penalties:

Name of Entity Violations Penalty (Rs.)Shri Bakul Ramniklal Parekh

Regulation 13(4) read with 13(5) of the PIT Regulations.

2,00,000/- (Rupees Two Lakh Only)

Shri Bakul Ramniklal Parekh


3,00,000/- (Rupees Three Lakh Only)

Shri Bakul Ramniklal Parekh


5,00,000/- (Rupees Five Lakh Only)

Shri Milan Ramniklal Parekh


Shri Milan Ramniklal Parekh

Regulation 13(4), 13(4A) read with 13(5) of the PIT Regulations.


• SEBI passed an order, dated 16 May 2019, in the matter of IFCI Financial Services Limited imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on IFCI Financial Services Limited for the violation of Clause 11 of the code of conduct specified under Third Schedule read with Regulation 20AA read with Regulation 20(2)(b) of DP Regulations and SEBI Circular No. CIR/MRD/DMS/13/2010 dated 23 April 2010 read with SEBI Circular No. CIR/MRD/DMS/28/2010 dated 31 August 2010.

• SEBI passed an order, dated 16 May 2019, in the matter of Basil International Ltd. imposing following penalties:

Name of Entity Violations Penalty(Rs.) Basil International Ltd

For non com-pliance of SEBI Order No. WTM/SR/NRO-CIS/05/05/2013 dated 16 May 2013

10,00,000/- (Rupees Ten Lakh only)Mr. Susanta

Kumar Jana Mr. Mohammed Afaque Ahmed Mr. Nirmalendu Bhowmik

Name of Entity Violations Penalty(Rs.) Basil International Ltd

For non compliance of SEBI Order No. WTM/PS/70/NRO/FEB/2015 dated 06 February 2015

1,00,00,000/- (Rupees One Crore only)Mr. Susanta

Kumar Jana Mr. Nirmalendu Bhowmik

• SEBI passed an order, dated 17 May 2019, in the matter of Trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Aakansha Advisory Services Private Limited for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 17 May 2019, in the matter of Trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 6,00,000 (Rupees Six Lakh Only) on Royal Touch Fablon Private Limited for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 17 May 2019, in the matter of En Aromatic & Petro Chemicals Ltd. imposing a total penalty of Rs 1,00,00,000 (Rupees One Crore Only) on En Aromatic & Petro Chemicals Limited for the violation of DIP Guidelines read with ICDR Regulations.

• SEBI passed an order, dated 17 May 2019, in the matter of Exdon Trading Company Limited imposing following penalties for the violation of regulation 3 (a), (b), (c), (d), regulation 4(1), 4 (2)(a) and 4 (2) (e) of the PFUTP Regulations:

Name of Entity Penalty (Rs.) Ms. Henal C Patel 10,00,000/-

(Rupees Ten Lakh Only)Mr. Dantara Amish Vijaykumar

10,00,000/- (Rupees Ten Lakh Only)

Ms. Henal Hemantbhai Shah

10,00,000/- (Rupees Ten Lakh Only)

Mr. Keval Chandrakant Shah


Ms. Devyaniben Jitendrakumar Gandhi



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Name of Entity Penalty (Rs.) Ms. Nikunj C Patel 5,00,000/-

(Rupees Five Lakh Only)Mr. Dhaval Chandrakant Shah


Mr. Vishal Pravinbhai Soni


Dhanlaxmi Lease Finance Ltd.


• SEBI passed an order, dated 20 May 2019, in the matter of Action Financial Services (India) Limited imposing following penalties for the violation of regulations 13(2A) of PIT Regulations:

Name of Entity Penalty (Rs.) Kedia Consultants Pvt. Ltd.


Mr. Raj Kumar Kedia 1,00,000/- (Rupees Two Lakh Only)

Esha Securities Ltd. 1,00,000/- (Rupees Two Lakh Only)

Mr. Raj Kumar Kedia 1,00,000/- (Rupees Two Lakh Only)

Ms. Esha Kedia 1,00,000/- (Rupees Two Lakh Only)

• SEBI passed an order, dated 21 May 2019, in the matter of Ashutosh Paper Mills Ltd imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on KPM Infotech Private Limited for the violation of Regulation 13(3) of the PIT Regulations and the Regulation 29(2) of the SAST Regulations.

• SEBI passed an order, dated 21 May 2019, in the matter of Ashutosh Paper Mills Ltd imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Salasar Techno Engineering Pvt Ltd for the violation of Regulation 13(3) of the PIT Regulations and the Regulation 29(2) of the SAST Regulations.

• SEBI passed an order, dated 22 May 2019, in the matter of Finalysis Credit and Guarantee Company Ltd. imposing a total penalty of Rs 18,00,000 (Rupees Eighteen Lakh Only) on Sagar Kadam and others for the violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(g) of the PFUTP Regulations. And imposing another penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Pankaj Jayantilal Dave for the violation of Regulation

13(1), 13(3), 13(5) and 12(2) of PIT Regulations and 29(1), 29(2), 29(3), of SAST Regulations.

• SEBI passed an order, dated 22 May 2019, in the matter of Channel Nine Entertainment Ltd imposing a total penalty of Rs 10,00,000 (Rupees Ten Lakh Only) on Goldline International Finvest Limited for the violation of Sections 11(3) and 11C (3) of the SEBI Act.

• SEBI passed an order, dated 22 May 2019, in the matter of trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Abhinandan Vanijya Private Limited for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulation.

• SEBI passed an order, dated 22 May 2019, in the matter of trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Shristi Ispat and Alloys Ltd. for the violation of regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulation.

• SEBI passed an order, dated 22 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 7,20,000 (Rupees Seven Lakh Twenty Thousand Only) on Tarang Stock Broking Services Private Limited for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 22 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Sri Narayan Mercantiles Private Limited for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 23 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Winsher Commercial Private Limited for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 23 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 9,00,000 (Rupees


499

Nine Lakh Only) on Vindus Holdings Limited for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 23 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 9,00,000 (Rupees Nine Lakh Only) on Shri Radha Raman Alloys Ltd. for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 23 May 2019, in the matter of Brand Realty Services Limited imposing a total penalty of Rs 10,00,000 (Rupees Ten Lakh Only) on Aruna Manchanda and others for the violation of Regulations 11(1) and 11(2) of SAST Regulations.

• SEBI passed an order, dated 23 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 11,20,000 (Rupees Eleven Lakh Twenty Thousand Only) on Subhlabh Fiscal Services Private Limited for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 23 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Straight Line Food products Private Limited for the violation of Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 24 May 2019, in the matter of Castex Technologies Ltd imposing a total penalty of Rs 24,00,000 (Rupees Twenty Four Lakh Only) on Amtek Auto Limited for the violation of Regulation 31(2) r/w Regulation 31(3) of SAST Regulations and Regulation 29(2) r/w 29(3) of SAST Regulation and Regulation 7(2)(a) of PIT Regulations.

• SEBI passed an order, dated 27 May 2019, in the matter of Sindhu Trade Links Limited imposing a total penalty of Rs 7,00,000 (Rupees Seven Lakh Only) on Dev Suman Sindhu and others for the violation of regulations 31(2) and 31(3) of SAST Regulations.

• SEBI passed an order, dated 28 May 2019, in the matter of dealings in illiquid stock options at BSE imposing a total penalty of Rs 7,60,000 (Rupees Seven Lakh Sixty Thousand Only) on Shri Sarvasarai Balaji Steels Ltd. for the violation of regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 28 May 2019, in the matter of dealings in illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Sri Shyam Baba Ferro Alloys Private Limited for the violation of regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 28 May 2019, in the matter of Dealing in Illiquid options on the BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Kailash Darshan Housing Development Gujarat Private Limited for the violation of regulations 3(a), 4(1), 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 28 May 2019, in the matter of Man Industries (India) Ltd imposing a total penalty of Rs 3,00,000 (Rupees Three Lakh Only) on Anubhav Footwears Pvt Ltd for the violation of Section 11 C(2) and (3) of SEBI Act.

• SEBI passed an order, dated 29 May 2019, in the matter of dealings in illiquid stocks options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Winsher Merchants Private Limited for the violation of regulations 3(a), (b), (c) and (d), 4(1), 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 29 May 2019, in the matter of dealings in illiquid stocks options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on VSP Steel Private Limited for the violation of regulations 3(a), (b), (c) and (d), 4(1), 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 30 May 2019, in respect of Choice Equity Broking Private Limited imposing a total penalty of Rs 10,00,000 (Rupees Ten Lakh Only) on Choice Equity Broking Private Limited for the violation of SEBI Circular No. SMD/SED/CIR/93/23321 dated 18 November 1993.


500

• SEBI passed an order, dated 30 May 2019, in the matter of Palred Technologies Ltd imposing the following penalties:

Name of Entity Violation Penalty (Rs.)

Palem Srikanth Reddy Regulation 29(2) read with Regulation 29(3) of SAST Regulation

2,00,000/- (Rupees Two Lakh Only) (jointly and severally) Palem Srikanth Reddy

(on behalf of the Minor Ms. Sanitha Reddy)Stuthi Reddy

P. Soujanya Reddy Dakshayani Reddy

Palem Srikanth Reddy Regulation 13(3), 13(4) and 13(4A) read with Regulation 13(5) of PIT Regulation


Palem Srikanth Reddy (on behalf of Ms. Sanitha Reddy (Minor)

Regulation 13 (1) and Regulation 13(4A) read with Regulation 13(5) of SAST Regulation

1,00,000/- (Rupees One Lakh Only)

Stuthi Reddy 1,00,000/- (Rupees One Lakh Only) Palem Srikanth Reddy (on behalf of the Minor Ms. Sanitha Reddy

Regulation 10(5), Regulation 10(6), Regulation 10(7) of SAST Regulations

2,00,000/- (Rupees Two Lakh Only) (Jointly and severally)

Stuthi Reddy

P. Soujanya Reddy Dakshayani Reddy

• SEBI passed an order, dated 30 May 2019, in the matter of Kelvin Fincap Ltd imposing the following penalties:

Name of Entity Violation Penalty (Rs.) Mr. Keyur M Shah Regulation 13(4A)read with

Regulation 13(5) of PIT Regulations, 1992 read with Regulation 12 of PIT Regulation 2015

5,00,000/- (Rupees Five Lakh Only) Keyur M Shah (HUF) 5,00,000/- (Rupees Five Lakh Only) Ms Kavita K Shah 5,00,000/- (Rupees Five Lakh Only)

• SEBI passed an order, dated 30 May 2019, in the matter of Manashvi Securities Private Limited imposing a total penalty of Rs 4,00,000 (Rupees Four Lakh Only) on Manashvi Securities Private Limited for the violation of Circular No. MIRSD/SE/Cir/19/2009 dated 3 December 2009 and Circular No. SEBI/MIRSD/Cir/O1/2011 dated 13 May 2011, Clauses A (1), (2), (5) of the Code of Conduct specified under Schedule II of Regulation 9(f) of the Broker Regulations.

• SEBI passed an order, dated 30 May 2019, in the Scrip of Tilak Finance Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) each on each of Insight Multitrading Private Limited and seven others for the violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations.

• SEBI passed an order, dated 30 May 2019, in the matter of Kelvin Fincap Ltd imposing a total penalty of Rs 15,00,000 (Rupees Fifteen Lakh Only) on Kelvin Fincap Ltd for the violation of Regulation 13 (6) PIT Regulations and under Section 23-I of SCRA read with Rule 5 of the SCRA Rules and Clause 35 of the Listing Agreement read with Section 21 of SCRA.

• SEBI passed an order, dated 31 May 2019, in the Scrip of Pankaj Piyush Trade and Investments Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on each of Shriniwas Bansal (HUF) and five others for the violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the Scrip of Dee Kartavya Finance Limited imposing


501

a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on each of Ashoka Majumdar and four others for the violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Inspection of Books of Destiny Securities Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Destiny Securities Limited for the violation of the provisions of SEBI Master Circular No. CIR/MRD/DRMNP/11/2013 dated 01 April 2013 read with NSE circular no: NSE/INSP/19583 dated 14 December 2011 on clarification on margin collection & reporting, and clauses A(2) and A(5) of the Code of conduct as specified under Schedule II read with regulation 9(f) of the Stock Brokers Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Roopam Steel Rolling Mills for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on R Sanghi Steel Udyog Private Limited for the violation of Regulations 3(a), (b),

(c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Trading in Illiquid Stock Options on BSE imposing a total penalty of Rs 10,00,000 (Rupees Ten Lakh Only) on S. Sukumar HUF for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Trading Activities of Certain Entities in the Scrip of Tilak Finance Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on each of Goodpoint Impex Private Limited and three others for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Trading in Illiquid Stock Options imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Mittal Pigments Pvt. Ltd. for the violation of Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Trading in Illiquid Stock Options imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on MMG Steels Pvt. Ltd. for the violation of Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 31 May 2019, in the matter of Kushal Tradelink Ltd. imposing the following penalties:

Name of Entity Violation Penalty (Rs.)Maulik Vinitkumar Parikh Section 12 A (a), (b),

(c) of SEBI Act and Regulation 3 (a), (b), (c), (d), 4 (1), (2) (a) and (e) of PFUTP Regulations

3,00,000/- (Rupees Three lakhs only)Arpita Ilesh Patel 3,00,000/- (Rupees Three lakhs only)Girishbhai Shantilal Varia 3,00,000/- (Rupees Three lakhs only) Karan Subhashchandra Ravde 3,00,000/- (Rupees Three lakhs only) Roshanlal Daulatram Aggarwal 3,00,000/- (Rupees Three lakhs only) Nilesh Rameshchandra Shah 3,00,000/- (Rupees Three lakhs only) Rohini Popatlal Parikh 3,00,000/- (Rupees Three lakhs only)Lakhani Babulal Hansraj 3,00,000/- (Rupees Three lakhs only) Mahendra Vadilal Shah 3,00,000/- (Rupees Three lakhs only) Jitin Popatlal Parikh 3,00,000/- (Rupees Three lakhs only) Ilesh Madhusudan Patel 3,00,000/- (Rupees Three lakhs only) Kalpesh Dineshbhai Patel 3,00,000/- (Rupees Three lakhs only)Manoj Parmar 3,00,000/- (Rupees Three lakhs only) Bhavnesh C Gandhi 3,00,000/- (Rupees Three lakhs only)


502

• SEBI passed an order, dated 31 May 2019, in the matter of Trading in Illiquid Stock Options imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Manoj Goel for the violation of Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations.

• SEBI passed an order, dated 07 May 2019, in the matter of Shri Ram Real Estate and Business Solution Limited (SRREBSL) directing Man Singh Verma jointly and severally along with SRREBSL and its other directors to refund the money collected by SRREBSL to the investors. He was further restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities market, directly or indirectly, till the directions for refund/repayment to the investors are complied with, and further for four years from the date of completion of the refund.

• SEBI passed an order, dated 08 May 2019, in respect of Magadh Stock Exchange Limited (derecognised) allowing the exit of Magadh Stock Exchange Limited (derecognised) as a stock exchange.

• SEBI passed an order, dated 14 May 2019, in the matter of Turbotech Engineering Ltd. restraining Radison Properties Private Limited and others from accessing the securities market for a period of seven years from the date of this order and further prohibiting them from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of seven years.

• SEBI passed an order, dated 14 May 2019, in the matter of ESBI Infrastructure Company Ltd directing ESBI Infrastructure Company Ltd. and others to refund the money collected by the company with an interest of 15% per annum, from the eighth day of collection of funds, to the investors till the date of actual payment.

• SEBI passed an order, dated 17 May 2019, in the matter of Allied Financial Services Pvt. Ltd. confirming its earlier directions of restraining Allied Financial Services Private Limited and others

from accessing the securities market and further prohibiting them from buying, selling or otherwise dealing in securities, either directly or indirectly, or being associated with the securities market in any manner whatsoever, till further directions.

• SEBI passed an order, dated 22 May 2019, in the matter of Hahnemann Food Products Limited (HFPL) directing HFPL not to mobilize fresh funds from investors through offer and allotment of any securities, to the public and/or invite subscription, in any manner whatsoever, either directly or indirectly. They were further refrained / prohibited from accessing the securities market by issue of prospectus / offer document / advertisement and buying, selling or otherwise dealing in securities in any manner whatsoever, directly or indirectly, for a period of four years.

• SEBI passed an order, dated 22 May 2019, in the matter of Unique Multi Foods Industries Limited (UMFIL ) ceasing UMFIL from mobilize any fresh funds from investors through the offer of SRNCDs or through the issuance of equity shares or any other securities, to the public and/or invite subscription, in any manner whatsoever, either directly or indirectly. UMFIL and its past and present directors were further directed to refund money collected from investors through the issue of SRNCDs during the relevant period, along with interest of 15 per cent per annum. They were also restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities till the expiry of four years.

• SEBI passed an order, dated 23 May 2019, in the matter of Highbrow Market Research Private Limited (Highbrow) restraining Highbrow and others from buying, selling or dealing in the securities market or associating themselves with securities market, either directly or indirectly, in any manner whatsoever, till further directions.

• SEBI passed an order, dated 23 May 2019, in the matter of Imtsons Investments Limited (IIL) directing IIL and others to jointly and severally, forthwith refund the money collected by the Company through the issuance of Equity Shares including the application money collected from


503

investors till date, pending allotment of securities, if any, with an interest of 15% per annum, from the eighth day of collection of funds. They were further directed not to, directly or indirectly, access the securities market, by issuing prospectus, offer document or advertisement soliciting money from the public and are further restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date of this Order, till the expiry of four years.

• SEBI passed an order, dated 24 May 2019, in the matter of Indiabulls Ventures Limited impounding the alleged unlawful gains of a sum of Rs. 87,21,918.55/- from 15 March 2017 to 21 May 2019, jointly and severally, from Pia Johnson and Mehul Johnson.

• SEBI passed an order, dated 24 May 2019, in the matter of Sharex Dynamic (India) Pvt. Ltd. prohibiting Sharex Dynamic (India) Pvt. Ltd., from accepting any fresh clients for a period of one month from the date of this Order.

• SEBI passed an order, dated 29 May 2019, in the matter of Nixcil Pharmaceuticals Specialties (NPSL) Limited directing NPSL and others refund, to the investors, the money collected by the Company, through the issuance of RCPS (including the application money collected from investors, till date, pending allotment of securities, if any), with an interest of 15% per annum, from the eighth day of collection of funds. They were

further restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, till the expiry of 4 (four) years.

• SEBI passed an order, dated 31 May 2019, in the matter of JMD Telefilms Industries Limited restraining Mr. Jitendra Kumar Pratihast and others from accessing the securities market for a period of two years and further prohibiting them from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of two years. They were further restrained from associating themselves with any listed public company and any public company which intends to raise money from the public, or any intermediary registered with SEBI, for a period of two years.

• SEBI passed an order, dated 31 May 2019, in the matter of ABL Biotechnologies Ltd directing ABL Biotechnologies Ltd to recover a sum of USD 6.64 million from Clifford Capital Partners A.G.S.A. Further ABL Biotechnologies Ltd and other were restrained from accessing the Securities Market including by issuing prospectus, offer document or advertisement soliciting money from the public and were further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly in any manner, till the expiry of five years.

Disclaimer: The summary has been prepared for the convenience of readers. In case of any ambiguity, please refer to the original order..


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TablesTable 1: SEBI Registered Market Intermediaries/Institutions

Table 2: Company-Wise Capital Raised through Public and Rights Issues (Equity) during May 2019Table 3: Open Offers under SEBI Takeover Code during May 2019Table 4: Substantial Acquisition of Shares and TakeoversTable 5: Capital Raised from the Primary Market through though Public and Rights Issues (Equity)Table 6: Issues Listed on SME PlatformTable 7: Industry-wise Classification of Capital Raised through Public and Rights Issues (Equity)Table 8: Sector-wise and Region-wise Distribution of Capital Mobilised through Public and Rights Issues (Equity)Table 9: Size-wise Classification of Capital Raised through Public and Rights Issues (Equity)Table 10: Resource Mobilisation through QIP Table 11: Resource Mobilisation through Preferential AllotmentsTable 12: Capital Raised from the Primary Market through Corporate BondsTable 13: Resource Mobilisation through Private Placement of Corporate DebtTable 14: Trading in the Corporate Debt Market (Reported Trades)Table 15: Ratings Assigned for Long-term Corporate Debt Securities (Maturity = 1 year)Table 16: Ratings Assigned for Long-term Corporate Debt Securities (Maturity = 1 year)Table 17: Distribution of Turnover on Cash Segments of ExchangesTable 18: Trends in Cash Segment of BSETable 19: Trends in Cash Segment of NSETable 20: Trends in Cash Segment of MSEITable 21: City-wise Distribution of Turnover on Cash SegmentsTable 22: Category-wise Share of Turnover in Cash Segment of BSETable 23: Category-wise Share of Turnover in Cash Segment of NSETable 24: Category-wise Share of Turnover in Cash Segment of MSEITable 25: Component Stocks: S&P BSE Sensex during May 2019Table 26: Component Stocks: Nifty 50 Index during May 2019Table 27: Component Stock: SX 40 Index during May 2019Table 28: Advances/Declines in Cash SegmentTable 29: Trading Frequency in Cash SegmentTable 30: Daily Volatility of Major Indices Table 31: Share of Top ‘N’ Securities/Members in Turnover of Cash Segment Table 32: Settlement Statistics for Cash Segment of BSETable 33: Settlement Statistics for Cash Segment of NSETable 34: Settlement Statistics for Cash Segment of MSEITable 35: Trends in Equity Derivatives Segment at BSE Table 36: Trends in Equity Derivatives Segment at NSETable 37: Settlement Statistics in Equity Derivatives Segment at BSE and NSE


505

Table 38: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of BSETable 39: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of NSETable 40: Instrument-wise Turnover in Index Derivatives at BSETable 41: Instrument-wise Turnover in Index Derivatives at NSETable 42: Trends in Currency Derivatives Segment at BSETable 43: Trends in Currency Derivatives Segment at NSETable 44: Trends in Currency Derivatives Segment at MSEITable 45: Settlement Statistics of Currency Derivatives SegmentTable 46: Instrument-wise Turnover in Currency Derivative Segment of BSETable 47: Instrument-wise Turnover in Currency Derivatives of NSETable 48: Instrument-wise Turnover in Currency Derivative Segment of MSEITable 49: Maturity-wise Turnover in Currency Derivative Segment of BSE Table 50: Maturity-wise Turnover in Currency Derivative Segment of NSETable 51: Maturity-wise Turnover in Currency Derivative Segment of MSEITable 52: Trading Statistics of Interest Rate Futures at BSE, NSE and MSEITable 53: Settlement Statistics in Interest Rate Futures at BSE, NSE and MSEITable 54: Trends in Foreign Portfolio InvestmentTable 55: Notional Value of Offshore Derivative Instruments (ODIs) Vs Assets Under Custody (AUC) of FPIs/DeemedTable 56: Assets under the Custody of CustodiansTable 57: Trends in Resource Mobilization by Mutual Funds Table 58: Status of Mutual Funds Industry in India Table 59: Trends in Transactions on Stock Exchanges by Mutual FundsTable 60: Asset Under Management by Portfolio ManagerTable 61: Progress Report of NSDL & CDSl as on end of Month (Listed Companies)Table 62: Progress of Dematerialisation at NSDL and CDSL (Listed and Unlisted Companies)Table 63: Depository StatisticsTable 65: Number of Commodities Permitted and traded at ExchangesTable 66: Trends in Commodity IndicesTable 67: Trends in commodity derivatives at MCX Table 68: Trends in commodity derivatives at NCDEX Table 69: Trends in commodity derivatives at ICEXTable 70: Trends in commodity derivatives at BSE Table 71: Trends in commodity derivatives at NSETable 72: Participant-wise percentage share of turnover at MCX, NCDEX, ICEX, BSE and NSETable 73: Commodity-wise monthly turnover and trading volume at MCXTable 74: Commodity-wise monthly turnover and trading volume at NCDEX Table 75: Commodity-wise monthly turnover and trading volume at ICEX, BSE and NSETable 76: Macro Economic Indicators


506

Table 1: SEBI Registered Market Intermediaries/Institutions

Market Intermediaries 2018-19 2019-20$Stock Exchanges (Cash Segment) 5 5Stock Exchanges (Equity Derivatives Segment) 3 3Stock Exchanges (Currency Derivatives Segment) 3 3Stock Exchanges (Commodity Derivatives Segment) 5 5Brokers (Cash Segment) 2,315 2,253Brokers (Equity Derivatives Segment) 2,435 2,429Brokers (Currency Derivatives Segment) 2,110 2,106Brokers (Debt Segment) 173 174Brokers (Commodity Derivatives Segment) 1,708 1,717Corporate Brokers(Cash Segment) 2,004 1,954Foreign Portfolio Investors (FPIs) 9,390 9412Custodians 20 20Depositories 2 2Depository Participants (NSDL) 277 278Depository Participants (CDSL) 598 599Merchant Bankers 209 211Bankers to an Issue 66 65Underwriters 2 2Debenture Trustees 32 32Credit Rating Agencies 7 7KYC Registration Agencies (KRA) 5 5Registrars to an Issue & Share Transfer Agents 77 78Venture Capital Funds 190 192Foreign Venture Capital Investors 248 252Alternative Investment Funds 532 585Portfolio Managers 315 317Mutual Funds 45 43Investment Advisors 1,131 1,203Research Analysts 620 647Infrastructure Investment Trusts (InVIT) 11 11Real Estate Investment Trust (REIT) 2 2Collective Investment Schemes 1 1Approved Intermediaries (Stock Lending Schemes) 2 2STP (Centralised Hub) 1 1STP Service Providers 2 2

Note: $ indicates as on May 31, 2019 Source: SEBI, NSDL.


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Table 2: Company-Wise Capital Raised through Public and Rights Issues (Equity) during May 2019

Sl.No.

Name of the Issuer/Company

Date of Opening

Type of Issue

Type of Instrument

No. of Shares Issued

Face Value

(`)

Premium Value

(`)

Issue Price (`)

Size of Issue

(`Crore)

1 Par Drugs and Chemicals Limited

08-May-19 SME IPO Equity 1,672,000 10 41.0 51 8.5

2 Bharti Airtel Limited 17-May-19 Rights Equity 1,133,590,816 10 205.0 215 24,372.2

3 Artemis Electricals Limited


4 Cian Healthcare Limited


5 Evans Electric Limited 03-May-19 SME IPO Equity 372,000 10 42.0 52 1.9

6 White Organic Retail Limited


7 Genus Prime Infra Limited

02-May-19 Rights Equity 852,940 2 1.0 3 0.3

Note: All the issues are compiled from the Prospectus of Issuer Companies filed with SEBI. Source: SEBI.

Table 3: Table 3: Open Offers under SEBI Takeover Code during May 2019

Sl. No

Target Company

Acquirer PA Date Offer Opening

Date

Offer Closing

Date

Offer Size Offer Price

(`) per

share

Offer Size (`

Crore)No. of Shares

Percent of Equity

Capital

1 Justride Enterprises Limited

Shubhal Goel 5-Feb-19 24-Apr-19 9-May-19 383,022 26 10 0.4

2 Sangam Renewables Limited

Waaree Energies Limited

5-Mar-19 6-May-19 17-May-19 5,412,700 26 19 10

3 Ruchika Industries India Limited

Mr. Rajiv Chandulal Darji

28-Feb-19 7-May-19 20-May-19 520,000 26 9 0.5

4 Indo Rama Synthetics (I) Limited

Indorams Netherlands

16-Jan-19 14-May-19 27-May-19 65,436,231 25.06 36 235.6

5 Integra Tele-communication & Software Ltd

Micro Logistics (India) Pvt. Ltd.

23-Jan-19 15-May-19 28-May-19 2,745,600 26 10 2.8

Source: SEBI.


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Table 4: Substantial Acquisition of Shares and Takeovers

Year / Month

Open Offers

Objectives TotalChange in Control of Management

Consolidation of Holdings

Substantial Acquisition No. of

OffersAmount (` crore)No. of

OffersAmount (` crore)

No. of Offers

Amount (` crore)

No. of Offers

Amount (` crore)

2018-19 63 23,016 4 4,636 4 941 71 28,594

2019-20$ 8 273.7 1 31.8 0 0.0 9 305.5

Apr-19 3 24.6 1 31.8 0 0.0 4 56.4

May-19 5 249.2 0 0 0 0 5 249.2

$ indicates as on May 31, 2019 Source: SEBI.

Table 5: Capital Raised from the Primary Market through though Public and Rights Issues (Equity)

Year / Month

Total Category-Wise Issue-Type Instrument-Wise

Public Rights Listed IPOsEquities

At Par At Premium

No. of issues

Amount (` crore)

No. of issues

Amount (` crore)

No. of issues

Amount (` crore)

No. of issues

Amount (` crore)

No. of issues

Amount (` crore)

No. of issues

Amount (` crore)

No. of issues

Amount (` crore)

2018-19 133 18,235 123 16,087 10 2,149 10 2,149 123 16,087 6 513 127 17,723

2019-20$ 17 52,711.3 13 3,326.8 4 49,384.5 4 49,384.5 13 3,326.8 0 0.0 17 52,711.3

Apr-19 10 28,233.0 8 3,221.0 2 25,012.0 2 25,012.0 8 3,221.0 0 0.0 10 28,233.0

May-19 7 24,478.3 5 105.8 2 24,372.5 2 24,372.5 5 105.8 0 0.0 7 24,478.3

Notes: 1. Equity public issues also includes issues listed on SME platform. 2. Since April 2018, the equity issue is categorised based on their respective closing dates. Prior to April 2018, it was classified based on opening date

of the issue.$ indicatesas on May 31, 2019

Table 6: Issues Listed on SME Platform

No. of issue Amount (`crore)2018-19 110 1,8442019-20$ 8 168Apr-19 3 62 May-19 5 106

$ indicates as on April 30,2019Source: SEBI


509

Table 7: Industry-wise Classification of Capital Raised through Public and Rights Issues (Equity)

Industry 2018-19 2019-20$ May-19

No. of issues

Amount (`crore)

No. of issues

Amount (`crore)

No. of issues

Amount (` crore)

Airlines 0 0 0 -

0 -

Automobiles 1 9 1 12 0 -

Banking/FIs 1 1,131 0 -

0 -

Cement and Construction 4 542 0 -

0 -

Chemicals 4 622 3 141 2 9

Consumer Services 2 59 1 42 1 42

Electronic Equipments/ Products 8 266 2 1,347 1 2

Engineering 9 467 1 477 0 -

Entertainment 1 1 1 2 0 -

Finance 4 3,739 0 - 0 -

Food processing 4 90 0 - 0 -

Healthcare 3 58 2 1,242 1 38

Hotels 3 1,647 0 - 0 -

Info Tech 2 45 0 - 0 -

Insurance 0 0 0 - 0 -

Oil and Natural Gas 1 10 0 - 0 -

Plastic 2 39 0 - 0 -

Power 0 0 0 - 0 -

Printing 0 0 1 7 0 -

Roads and Highways 0 0 0 - 0 -

Telecom 0 0 2 49,372 1 24,372

Textiles 10 1,321 0 - 0 -

Miscellaneous 74 8,189 3 69 1 15

Total 133 18,235 17 52,711 7 24,478 $ indicates as on May 31,2019Source: SEBI


510

Tabl

e 8:

Sec

tor-

wis

e an

d R

egio

n-w

ise

Dis

trib

utio

n of

Cap

ital M

obili

sed

thro

ugh

Publ

ic a

nd R

ight

s Is

sues

(Equ

ity)

Year

/

Mon

th

Tota

lSe

ctor

-wise

Regi

on-w

isePr

ivate

Publ

icN

orth

ern

East

ern

Wes

tern

Sout

hern

Cent

ral

No.

of

Issu

eAm

ount

(`

Cror

es)

No.

of

Issu

eAm

ount

(`

Cro

res)

No.

of

Issu

eAm

ount

(`

Cro

res)

No.

of

Issu

eAm

ount

(`

Cro

res)

No.

of

Issu

eAm

ount

(`

Cro

res)

No.

of

Issu

eAm

ount

(`

Cro

res)

No.

of

Issu

eAm

ount

(`

Cro

res)

No.

of

Issu

eAm

ount

(`

Cro

res)

2018

-19

133

18,2

3512

916

,753

41,

482

273,

345

970

082

12,1

7210

61,8

955

123

2019

-20$

1752

,711

1652

,234

147

75

26,2

070

012

26,5

040

00

0A

pr-1

910

28,2

339

27,7

561

477

31,

835

00

726

,398

00

00

May

-19

724

,478

724

,478

00

224

,372

00

510

60

00

0$

indi

cate

s as

on

May

31,

201

9 So

urce

: SE

BI

Tabl

e 9:

Siz

e-w

ise

Cla

ssifi

catio

n of

Cap

ital R

aise

d th

roug

h Pu

blic

and

Rig

hts

Issu

es (E

quity

)Ye

ar /

M

onth

Tota

l<

5 c

rore

≥ 5

cror

e - <

10

cror

e ≥

10

cror

e - <

50

cror

e ≥

50

cror

e - <

100

cr

ore

≥ 1

00 c

rore

- <

50

0 cr

ore

>=

500

cror

e

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)20

18-1

913

318

,235

2068

2921

361

1,35

56

438

82,

896

913

,266

2019

-20$

1752

,711

34

215

616

10

02

609

451

,922

Apr

-19

1028

,233

12

17

365

00

260

93

27,5

49M

ay-1

97

24,4

782

21

93

950

00

01

24,3

72$

indi

cate

s as

on

May

31,

201

9 So

urce

: SE

BI

Tabl

e 10

: R

esou

rce

Mob

ilisa

tion

thro

ugh

QIP

Ye

ar /

M

onth

Onl

y B

SEO

nly

NSE

Onl

y M

SEI

Bot

h N

SE a

nd B

SETo

tal

No.

of

issu

esA

mou

nt

(` C

rore

s)N

o. o

f is

sues

Am

ount

(`

Cro

res)

No.

of

issu

esA

mou

nt

(` C

rore

s)N

o. o

f is

sues

Am

ount

(`

Cro

res)

No.

of

issu

esA

mou

nt

(` C

rore

s)20

18-1

91

113

00

00

138,

565

148,

678

2019

-20$

00

00

00

13,

173

13,

173

Apr

-19

00

00

00

13,

173

13,

173

May

-19

00

00

00

00

00

Not

es:

1. 1

. The

abo

ve d

ata

incl

udes

bot

h “n

o. o

f is

sues

” an

d “A

mou

nt”

rais

ed o

n co

nver

sion

of

conv

ertib

le s

ecur

ities

issu

ed o

n Q

IP b

asis

. $

indi

cate

sas

on M

ay 3

1, 2

019

Sour

ce: B

SE, N

SE a

nd M

SEI.

Tabl

e 11

: R

esou

rce

Mob

ilisa

tion

thro

ugh

Pref

eren

tial A

llotm

ents

Year

/Mon

thO

nly

BSE

Onl

y N

SEO

nly

MSE

IB

oth

NSE

and

BSE

Tota

lN

o. o

f

issu

esA

mou

nt (`

C

rore

s)N

o. o

f

issu

esA

mou

nt

(` C

rore

s)N

o. o

f

issu

esA

mou

nt

(`C

rore

s)N

o. o

f

issu

esA

mou

nt

(` C

rore

s)N

o. o

f is

sues

Am

ount

(`

Cro

res)

2018

-19

208

10,8

2520

8,03

24

2417

119

1,28

140

321

0,16

220

19-2

0$31

297

16

00.

028

55,3

7660

55,6

79A

pr-1

97

220

0.0

00.

016

35,8

0623

35,8

28M

ay-1

924

275

16

00.

012

19,5

7037

19,8

51$

indi

cate

s as

on

May

31,

201

9

So

urce

: BSE

, NSE

and

MSE

I.


511

Table 12: Capital Raised from the Primary Market through Corporate Bonds Year/ Month Total

No. of issue Amount (`crore)2018-19 25 36,6792019-20$ 9 3,239Apr-19 5 2,191May-19 4 1,048

$ indicates as on May 31, 2019 Source: SEBI

Table 13: Resource Mobilisation through Private Placement of Corporate Debt

Year / Month

Only BSE Only NSE Both NSE and BSE TOTALNo. of Issues

Amount (` Crores)

No. of Issues

Amount (` Crores)

No. of Issues

Amount (` Crores)

No. of Issues

Amount (` Crores)

2018-19 43,157 6,31,252 60,370 11,68,408 0 0 1,03,527 17,99,6602019-20$ 3,944 53,756 5,380 90,748 0 0 9,324 1,44,504Apr-19 3,944 53,756 5,380 90,748 0 0 9,324 1,44,504

$ indicates as on May 31, 2019 Source: BSE and NSE.

Table 14: Trading in the Corporate Debt Market (Reported Trades)

Year / Month

BSE NSE MSEI TotalNo. of Trades

Traded Value (` crore)

No. of Trades


No. of Trades


No. of Trades


2018-19 43,157 6,31,252 60,370 11,68,408 0 0 1,03,527 17,99,6602019-20$ 8,783 1,18,865 12,030 2,20,666 0 0 20,813 3,39,531Apr-19 3,944 53,756 5,380 90,748 0 0 9,324 1,44,504May-19 4,839 65,109 6,650 1,29,918 0 0 11,489 1,95,027

$ indicates as on May 31, 2019 Source: BSE, NSE and MSEI.

Table 15: Ratings Assigned for Long-term Corporate Debt Securities (Maturity = 1 year) Grade Period

Investment Grade Non-Investment Grade

TotalHighest Safety

(AAA)High Safety (AA) Adequate Safety

(A)Moderate Safety

(BBB)No. of issue

Amount (`crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

2018-19 279 20,80,536 400 3,24,989 349 1,04,666 241 20,879 57 12,738 1,326 25,43,8072019-20$ 37 1,70,878 26 12,658 21 2,684 11 1,207 8 3,147 102 1,90,474Apr-19 8 105,452 4 2,850 6 1,483 1 495 7 3,072 26 113,352May-19 29 65,426 22 9,808 15 1,202 10 712 1 75 76 77,122

$ indicates as on May 31,2019Source: Credit Rating Agencies.

Table 16: Ratings Assigned for Long-term Corporate Debt Securities (Maturity = 1 year) Grade

Period

Upgraded Downgraded Reaffirmed Rating Watch Withdrawn/ Suspended

Total

No. of issue

Amount (`crore)

No. of issue

Amount (`crore)

No. of issue

Amount (`crore)

No. of issue

Amount (`crore)

No. of issue

Amount (`crore)

No. of issue

Amount (`crore)

2018-19 711 3,14,241 892 9,13,562 5,489 1,22,52,045 494 11,24,408 1,101 4,75,760 8,687 1,50,79,0162019-20$ 20 22,974 311 271,048 259 629,361 138 227,249 114 24,337 842 1,174,625Apr-19 4 21,200 148 186,754 62 71,602 136 226,341 29 2,545 379 508,442May-19 16 1,774 163 84,294 197 557,759 2 908 85 21,792 463 666,183

$ indicates as on May 31,2019Source: Credit Rating Agencies.


512

Tabl

e 17

: D

istr

ibut

ion

of T

urno

ver o

n C

ash

Segm

ents

of

Exc

hang

es (`

cror

e)St

ock

Exc

hang

es20

18-1

920

19-2

0$M

ay-1

9B

SE7,

75,5

9011

4,03

958

,172

MSE

I30

157

NSE

79,4

9,00

414

,28,

299

7,88

,184

$ in

dica

tes

as o

n M

ay 3

1, 2

019

Sour

ce: B

SE, N

SE a

nd M

SEI.

Tabl

e 18

: Tr

ends

in C

ash

Segm

ent o

f B

SE

Year

/

Mon

th

No.

of

Com

-pa

nies

Li

sted

No.

of

Com

pa-

nies

Per

-m

itted

*

No.

of

com

-pa

nies

tr

aded

No.

of

Trad

ing

Day

s

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Tur

nove

r (`

cro

re)

Aver

age

Dai

ly

Tur

nove

r (`

cro

re)

Aver

age

Trad

e Si

ze (`

)

Dem

at

Secu

ritie

s Tr

aded

(L

akh)

Dem

at

Tur

nove

r (`

cro

re)

Mar

ket

Cap

italis

a-tio

n

(` c

rore

)

S&P

BSE

Sen

sex

Hig

hLo

wC

lose

2018

-19

5,26

236

4,08

624

83,

145

5,18

,103

7,75

,590

3,12

724

,659

5,18

,103

7,75

,590

1,51

,08,

711

38,9

9032

,973

38,6

7320

19-2

0$5,

292

363,

746

4153

71,

19,2

821,

14,0

392,

781

21,2

271,

19,2

821,

14,0

391,

54,3

8,01

540

,125

36,9

5639

,714

Apr

-19

5,28

236

3,58

019

255

76,9

3955

,868

2,94

021

,943

76,9

3955

,868

1,52

,54,

028

39,4

8738

,460

39,0

32M

ay-1

95,

292

363,

587

2228

342

,343

58,1

722,

644

20,5

8142

,343

58,1

721,

54,3

8,01

540

,125

36,9

5639

,714

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: B

SE.

Tabl

e 19

: Tr

ends

in C

ash

Segm

ent o

f N

SE

Year

/

Mon

th

No.

of

Com

-pa

nies

Li

sted

No.

of

1Com

pa-

nies

Per

-m

itted

*

No.

of

com

pani

es

trad

ed

No.

of

Trad

ing

Day

s

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Tur

nove

r (`

cro

re)

Aver

age

Dai

ly

Tur

nove

r (`

cro

re)

Aver

age

Trad

e Si

ze (`

)

Dem

at

Secu

ritie

s Tr

aded

(L

akh)

Dem

at

Tur

nove

r (`

cro

re)

Mar

ket

Cap

italis

a-tio

n

(` c

rore

)

Nift

y 50

Ind

ex

Hig

hLo

wC

lose

2018

-19

1931

419

2224

828

,532

37,4

9,97

679

,49,

004

32,0

5227

,860

37,4

9,97

679

,49,

004

1,49

,34,

227

11,7

6010

,005

11,6

2420

19-2

0$1,

942

41,

873

414,

882

6,81

,348

14,2

8,29

934

,837

29,2

576,

81,3

4814

,28,

299

1,52

,54,

361

12,0

4111

,108

11,9

23A

pr-1

91,

938

41,

856

1921

4730

8,63

664

0,11

533

,690

29,8

1130

8,63

664

0,11

51,

50,4

3,27

511

,856

11,5

4911

,748

May

-19

1,94

24

1,86

022

2735

372,

712

788,

184

35,8

2728

,822

372,

712

788,

184

1,52

,54,

361

12,0

4111

,108

11,9

23T

urno

ver D

ata

com

pile

d fo

r all

mar

kets

exc

ept a

uctio

n m

arke

t $

indi

cate

s as

on

May

31,

2019

So

urce

: NSE

Tabl

e 20

: Tr

ends

in C

ash

Segm

ent o

f M

SEI

Year

/M

onth

No.

of

Com

-pa

nies

Li

sted

No.

of

Com

pa-

nies

Per

-m

itted

#

No.

of

Com

-pa

nies

Tr

aded

No.

of

Trad

ing

Day

s

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Tur

nove

r (`

cro

re)

Aver

age

Dai

ly

Tur

nove

r (`

cro

re)

Aver

age

Trad

e Si

ze (`

)

Dem

at

Secu

-rit

ies

Trad

ed

(Lak

h)

Dem

at

Tur

nove

r (`

cro

re)

Mar

ket

Cap

italis

a-tio

n

(` c

rore

)

SX 5

0 In

dex

Hig

hLo

wC

lose

2018

-19

287

1,30

98

248

014

300

1,58

,520

1430

1,47

,51,

584

22,8

7319

,645

22,7

4320

19-2

0$28

81,

306

741

08

150

3,53

,865

1315

1,50

,35,

898

23,4

0121

,840

23,3

57A

pr-1

928

61,

308

619

04

70

3,28

,445

47

1,48

,42,

661

23,0

7222

,659

23,0

01M

ay-1

928

81,

306

522

04

70

175

97

1,50

,35,

898

23,4

0121

,840

23,3

57$

indi

cate

s as

on

May

31,

201

9So

urce

: MSE

I.


513

Table 21: City-wise Distribution of Turnover on Cash Segments(Percentage share in Turnover)

S.No City BSE NSE MSEI2018-19 May-19 2018-19 May-19 2018-19 May-19

1 Ahmedabad 2.5 2.2 2.2 1.6 0.0 0.02 Bengaluru 0.5 1.5 3.8 3.9 0.0 0.03 Vadodara 0.9 1.0 0.3 0.2 0.0 0.04 Bhubneshwar 0.0 0.0 0.0 0.0 0.0 0.05 Chennai 1.1 1.0 0.9 0.8 0.0 0.06 Ernakulam 0.1 0.1 0.8 0.7 0.0 0.07 Coimbatore 0.0 0.0 0.1 0.0 0.0 0.08 New Delhi 1.6 1.7 6.3 6.6 29.4 48.79 Guwahati 0.0 0.0 0.0 0.0 0.0 0.0

10 Hyderabad 0.4 0.8 3.4 3.2 0.1 0.011 Indore 0.4 0.3 0.4 0.2 0.0 0.012 Jaipur 0.6 0.6 0.3 0.2 0.1 0.013 Kanpur 0.3 0.5 0.1 0.1 0.0 0.014 Kolkata 2.4 2.2 4.8 4.9 0.0 0.015 Ludhiana 0.1 0.1 0.2 0.1 0.0 0.016 Mangalore 0.0 0.0 0.0 0.0 0.0 0.017 Mumbai 56.4 48.1 64.3 64.5 40.7 32.318 Patna 0.1 0.1 0.0 0.0 0.0 0.019 Pune 0.3 0.4 0.1 0.1 0.0 0.020 Rajkot 1.7 1.8 1.2 1.1 0.0 0.021 Others 30.6 37.7 10.8 11.6 29.8 19.0

Total 100 100 100 100 100 100Notes:1. The city-wise distribution of turnover is based on the cities uploaded in the UCC database of the Exchange for clientele trades and members registered office city for proprietary trades.Source: BSE, NSE and MSEI.

Table 22: Category-wise Share of Turnover in Cash Segment of BSE (in Per cent)

Year / Month Percentage Share in TurnoverProprietary FPIs Mutual Funds Banks Others

2018-19 22.4 12.4 7.9 0.1 57.22019-20$ 26.9 6.8 6.3 0.1 60.0Apr-19 22.5 7.1 6.8 0.0 63.6May-19 31.3 6.4 5.7 0.1 56.5

$ indicates as on May 31,2019 Source: BSE.

Table 23: Category-wise Share of Turnover in Cash Segment of NSE (in Per cent)

Year /Month Percentage Share in TurnoverProprietary FPIs Mutual Funds Banks Others

2018-19 21.5 15.1 7.5 0.2 55.72019-20$ 22.7 15.2 6.7 0.2 55.1Apr-19 22.7 14.3 6.7 0.2 56.2May-19 22.8 16.2 6.8 0.2 54.1

$ indicates as on May 31,2019 Source: NSE.

Table 24: Category-wise Share of Turnover in Cash Segment of MSEI

Year / Month Percentage Share in TurnoverProprietary FPIs Mutual Funds Banks Others

2018-19 0 0 0 0 1002019-20$ 0 0 0 0 100Apr-19 0 0 0 0 100May-19 0 0 0 0 100

$ indicates as on May 31, 2019 Source: MSEI.


514

Table 25: Component Stocks: S&P BSE Sensex during May 2019

Sl.No Name of SecurityIssuedCapital

(` crore)

Free FloatMarket

Capitalisation(` crore)

Weightage (Percent) Beta R 2

DailyVolatility(Percent)

MonthlyReturn

(Percent)

ImpactCost

(Percent)

1 HDFC 344 374,848 9.3 1.2 0.5 1.5 9.4 0.03

2 BAJFINANCE 116 82,008 2.0 1.3 0.3 2.2 12.1 0.05

3 STATE BANK 892 132,147 3.3 1.4 0.4 1.9 13.7 0.03

4 HDFC BANK 545 520,522 12.9 0.7 0.3 1.0 4.7 0.06

5 HEROMOTOCO 40 34,805 0.9 1.0 0.2 1.8 6.7 0.07

6 INFOSYS LTD 2,184 280,029 6.9 0.7 0.0 4.5 -1.7 0.03

7 KOTAK MAH.BK 954 179,357 4.4 0.9 0.3 1.5 9.6 0.06

8 VEDL 372 29,858 0.7 1.3 0.2 2.6 -3.7 0.07

9 ONGC CORPN 6,417 48,519 1.2 1.0 0.2 1.9 1.5 0.08

10 RELIANCE 6,339 429,491 10.6 1.5 0.5 1.8 -4.5 0.03

11 TATA STEEL 1,146 37,378 0.9 1.2 0.2 2.0 -12.3 0.04

12 LARSEN & TOU 281 189,832 4.7 1.0 0.3 1.4 15.6 0.11

13 MAH & MAH 622 60,286 1.5 1.2 0.4 1.7 0.3 0.05

14 TATA MOTORS 577 31,378 0.8 1.7 0.2 2.9 -19.5 0.10

15 HIND UNI LT 216 127,509 3.2 0.7 0.2 1.3 1.8 0.04

16 ASIAN PAINTS 96 63,417 1.6 1.0 0.3 1.5 -3.8 0.05

17 ITC LTD. 1,226 237,499 5.9 0.9 0.3 1.3 -7.6 0.05

18 SUN PHARMA. 240 44,212 1.1 0.8 0.1 2.3 -10.4 0.08

19 ICICI BANK 1,290 271,592 6.7 1.4 0.4 1.9 3.8 0.07

20 INDUSIND BNK 603 80,689 2.0 1.2 0.3 1.9 -0.2 0.04

21 AXIS BANK 515 143,030 3.5 1.1 0.3 1.7 5.4 0.05

22 HCL TECHNO 271 60,886 1.5 0.5 0.1 1.6 -7.6 0.05

23 BHARTI ARTL 2,566 59,009 1.5 1.2 0.2 2.3 8.8 0.11

24 MARUTISUZUK 151 91,228 2.3 1.2 0.3 1.7 3.1 0.03

25 TCS LTD. 375 230,816 5.7 0.5 0.1 1.5 -2.6 0.03

26 NTPC LTD 9,895 50,082 1.2 0.6 0.1 1.8 -0.3 0.07

27 YES BANK 463 27,364 0.7 1.2 0.0 4.8 -11.9 0.08

28 POWER GRID 5,232 43,540 1.1 0.6 0.1 1.4 1.5 0.09

29 BAJAJ AUTO 289 39,784 1.0 0.8 0.2 1.6 -2.3 0.06

30 COAL INDIA 6,207 34,598 0.9 0.4 0.0 1.5 0.6 0.06

31 TATAMTRTDVR 102 4,259 0.1 1.6 0.2 2.6 -18.1 0.15

Notes: 1. Beta & R2 are calculated for the trailing 12 months .Beta measures the degree to which any portfolio of stocks is affected .2. The coefficient of determination (R2) measures the strength of relationship between two variables the return on a security versus that of the

market. 3. Volatility is the standard deviation of the daily returns for the trailing 12 months. 4. Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price, multiplied by 100. Hence

ideal price is calculated as (best buy + best sell)/2. 5. The above is calculated for a month for the portfolio size of ` 5 lakh. It is calculated for the current month. Source: BSE.


515

Table 26: Component Stocks: Nifty 50 Index during May 2019

Sl. No Name of Security

IssuedCapital

(`Crore)

Free FloatMarket

Capitalisation(` crore)

Weightage (Percent) Beta R 2

DailyVolatility(Percent)

MonthlyReturn

(Percent)

ImpactCost

(Percent)

1 Adani Ports and Special Economic Zone Ltd.

414 32,769 0.7 1.4 0.3 2.8 6.0 0.03

2 Asian Paints Ltd. 96 63,444 1.3 1.0 0.3 1.5 -3.8 0.023 Axis Bank Ltd. 514 157,953 3.3 1.2 0.3 1.5 5.4 0.02

4 Bajaj Auto Ltd. 289 39,793 0.8 0.8 0.2 1.4 -2.0 0.025 Bajaj Finance Ltd. 116 82,159 1.7 1.5 0.3 2.3 12.0 0.026 Bajaj Finserv Ltd. 80 49,514 1.0 1.4 0.4 1.7 8.9 0.037 Bharat Petroleum Corporation Ltd. 2,169 31,967 0.7 1.5 0.2 2.2 7.8 0.028 Bharti Airtel Ltd. 2,566 59,060 1.2 1.2 0.2 2.3 8.9 0.039 Bharti Infratel Ltd. 1,850 22,887 0.5 0.3 0.0 1.8 2.5 0.0310 Britannia Industries Ltd. 24 34,408 0.7 0.8 0.2 1.4 0.9 0.0211 Cipla Ltd. 161 28,367 0.6 0.8 0.2 1.4 -1.1 0.0212 Coal India Ltd. 6,207 42,487 0.9 0.5 0.1 1.3 0.5 0.0313 Dr. Reddy's Laboratories Ltd. 83 32,468 0.7 0.3 0.0 1.7 -8.7 0.0214 Eicher Motors Ltd. 27 27,756 0.6 1.4 0.3 2.5 -2.1 0.0215 GAIL (India) Ltd. 2,255 32,563 0.7 0.9 0.2 1.9 1.4 0.0216 Grasim Industries Ltd. 132 34,962 0.7 1.2 0.3 2.5 -1.7 0.0217 HCL Technologies Ltd. 271 59,271 1.2 0.5 0.1 1.3 -7.7 0.0218 HDFC Bank Ltd. 545 521,793 10.9 0.7 0.3 1.3 4.7 0.0219 Hero MotoCorp Ltd. 40 34,796 0.7 1.0 0.2 1.7 6.7 0.0220 Hindalco Industries Ltd. 225 28,754 0.6 1.3 0.3 1.7 -4.4 0.0321 Hindustan Unilever Ltd. 216 127,760 2.7 0.7 0.2 1.3 1.8 0.0222 Housing Development Finance

Corporation Ltd. 344 360,127 7.5 1.2 0.5 1.8 9.4 0.02

23 ICICI Bank Ltd. 1,289 273,058 5.7 1.4 0.4 2.1 4.0 0.0324 ITC Ltd. 1,225 238,933 5.0 0.9 0.3 1.6 -7.6 0.0325 Indiabulls Housing Finance Ltd. 85 26,222 0.6 2.3 0.3 3.5 13.1 0.0426 Indian Oil Corporation Ltd. 9,414 38,963 0.8 1.4 0.2 2.2 4.8 0.0327 IndusInd Bank Ltd. 603 82,239 1.7 1.2 0.3 3.1 -0.1 0.0328 Infosys Ltd. 2,184 280,417 5.8 0.5 0.1 1.2 -1.8 0.0229 JSW Steel Ltd. 242 27,584 0.6 1.2 0.3 2.4 -11.9 0.0330 Kotak Mahindra Bank Ltd. 954 203,302 4.2 0.9 0.2 1.2 9.8 0.0231 Larsen & Toubro Ltd. 281 192,250 4.0 1.0 0.4 2.0 15.5 0.0232 Mahindra & Mahindra Ltd. 622 60,331 1.3 1.3 0.4 1.9 0.3 0.0233 Maruti Suzuki India Ltd. 151 91,311 1.9 1.2 0.3 1.8 3.1 0.0234 NTPC Ltd. 9,895 54,056 1.1 0.7 0.2 1.7 -0.6 0.0335 Oil & Natural Gas Corporation Ltd. 6,290 51,916 1.1 1.0 0.2 1.6 1.6 0.0236 Power Grid Corporation of India Ltd. 5,232 43,575 0.9 0.6 0.1 1.4 1.6 0.0237 Reliance Industries Ltd. 6,339 455,296 9.5 1.4 0.4 1.8 -4.5 0.0238 State Bank of India 892 132,129 2.8 1.5 0.4 2.3 13.7 0.0239 Sun Pharmaceutical Industries Ltd. 240 45,235 0.9 0.9 0.1 2.6 -10.4 0.0340 Tata Consultancy Services Ltd. 375 230,784 4.8 0.5 0.1 1.5 -2.8 0.0241 Tata Motors Ltd. 577 31,396 0.7 1.7 0.3 3.5 -19.5 0.0342 Tata Steel Ltd. 1,127 36,858 0.8 1.3 0.3 2.5 -12.4 0.0343 Tech Mahindra Ltd. 492 47,853 1.0 0.6 0.1 1.5 -9.1 0.0244 Titan Company Ltd. 89 51,563 1.1 0.9 0.2 1.7 6.7 0.0245 UPL Ltd. 102 36,634 0.8 1.1 0.2 1.5 3.1 0.0246 UltraTech Cement Ltd. 275 49,678 1.0 1.2 0.3 2.0 3.1 0.0247 Vedanta Ltd. 372 29,243 0.6 1.3 0.2 2.3 -3.8 0.0348 Wipro Ltd. 1,207 43,203 0.9 0.4 0.1 0.9 -4.1 0.0249 Yes Bank Ltd. 463 27,359 0.6 1.2 0.1 3.9 -12.0 0.0550 Zee Entertainment Enterprises Ltd. 96 19,912 0.4 0.9 0.1 5.2 -17.4 0.04

Notes: 1. Beta & R2 are calculated for the trailing 12 months .Beta measures the degree to which any portfolio of stocks is affected . 2. The coefficient of determination (R2) measures the strength of relationship between two variables the return on a security versus that of the market.3. Volatility is the standard deviation of the daily returns for the trailing 12 months. 4. Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price, multiplied by 100. Hence ideal price

is calculated as (best buy + best sell)/2. 5. The above is calculated for a month for the portfolio size of ` 5 lakh. It is calculated for the current month. Source: NSE.


516

Table 27: Component Stock: SX 40 Index during May 2019

S.No. Name of SecurityIssued Capital

(` crore)

Free Float Market

Capitalisation (` crore)

Weightage (Percent) Beta R2

Daily Volatility (Percent)

Monthly Return

(Percent)

Impact Cost

(Percent) *

1 ADANIPORTS 414 32,509 0.7 1.4 0.3 2.1 5.7 Na2 ASIANPAINT 96 63,724 1.4 1.0 0.3 1.4 -4.0 Na3 AXISBANK 515 169,797 3.8 1.2 0.3 1.4 5.1 Na4 BAJAJ-AUTO 289 35,441 0.8 0.8 0.2 1.2 -2.0 Na5 BAJFINANCE 116 82,858 1.8 1.4 0.3 1.9 10.7 Na6 BHARTIARTL 2,565 58,806 1.3 1.2 0.2 2.1 8.2 Na7 BPCL 2,169 32,424 0.7 1.5 0.2 2.5 7.2 Na8 COALINDIA 6,163 45,369 1.0 0.5 0.1 1.3 0.5 Na9 DRREDDY 86 33,858 0.8 0.3 0.0 1.4 -9.5 Na10 EICHERMOT 27 27,580 0.6 1.4 0.3 2.2 -2.1 Na11 GRASIM 132 34,757 0.8 1.2 0.3 2.0 -1.7 Na12 HCLTECH 271 59,267 1.3 0.6 0.1 1.6 -8.3 Na13 HDFC 344 375,711 8.4 1.2 0.4 1.5 8.6 Na14 HDFCBANK 545 519,687 11.6 0.7 0.3 1.1 4.4 Na15 HEROMOTOCO 40 34,994 0.8 1.0 0.2 1.6 6.3 Na16 HINDALCO 225 28,816 0.6 1.4 0.3 1.8 -4.6 Na17 HINDUNILVR 216 127,036 2.8 0.7 0.2 1.1 1.7 Na18 ICICIBANK 1,290 273,127 6.1 1.3 0.4 1.9 3.8 Na19 INDUSINDBK 603 81,175 1.8 1.2 0.3 2.7 -0.1 Na20 INFY 2,183 279,228 6.2 0.6 0.1 1.2 -1.8 Na21 IOC 9,414 40,316 0.9 1.3 0.2 2.1 4.5 Na22 ITC 1,225 240,516 5.4 0.9 0.3 1.2 -8.2 Na23 KOTAKBANK 954 198,423 4.4 0.9 0.2 1.2 8.9 Na24 LT 281 191,630 4.3 1.0 0.4 1.5 13.4 Na25 M&M 622 60,394 1.3 1.3 0.4 1.5 0.3 Na26 MARUTI 151 90,882 2.0 1.2 0.3 1.6 3.0 Na27 NTPC 9,895 57,890 1.3 0.7 0.2 1.5 -0.6 Na28 ONGC 6,290 55,064 1.2 1.0 0.2 1.6 1.6 Na29 POWERGRID 5,232 44,203 1.0 0.6 0.1 1.3 1.5 Na30 RELIANCE 6,339 431,057 9.6 1.5 0.5 1.7 -4.7 Na31 SBIN 892 134,700 3.0 1.4 0.4 1.8 12.1 Na32 SUNPHARMA 240 44,855 1.0 0.8 0.1 2.2 -11.7 Na33 TATAMOTORS 577 30,713 0.7 1.7 0.3 3.4 -24.2 Na34 TATASTEEL 1,126 37,434 0.8 1.3 0.3 2.4 -14.1 Na35 TCS 375 230,384 5.1 0.6 0.1 1.6 -2.9 Na36 TECHM 492 47,946 1.1 0.6 0.1 1.2 -10.0 Na37 TITAN 89 51,665 1.2 0.8 0.2 1.6 6.2 Na38 VEDL 372 29,518 0.7 1.3 0.2 2.1 -3.9 Na39 WIPRO 1,207 44,427 1.0 0.5 0.1 1.3 -4.2 Na40 YESBANK 463 27,456 0.6 1.1 0.0 7.0 -13.7 Na

Notes:1. Market Cap, Beta & R2 as on the last day of the month 2. Beta & R2 are calculated for the trailing 12 months 3. Volatility for the current month 4. *Since there is no trading in the SX40 constituents, the Impact Cost for the given stocks is NIL. Source: MSEI.


517

Table 28: Advances/Declines in Cash Segment

Year/ Month

BSE NSE MSEI

Advances DeclinesAdvance/Decline Ratio



2018-19 1,156 2,730 0.4 585 1,294 0.5 2 5 0.42019-20$ 941 2,761 0.3 361 1,461 0.2 2 3 0.7Apr-19 1,541 1,921 0.8 879 1,040 0.9 2 2 1.0May-19 857 2,573 0.3 418 1,505 0.3 2 1 2.0

Note: Advance/Decline is calculated based on the average price methodology. $ indicates as on May 31, 2019 Source: BSE, NSE and MSEI.

Table 29: Trading Frequency in Cash Segment

Month

BSE NSE MSEINo. of

Companies Listed

No. of Companies

Traded

Percent of Traded to

Listed

No. of Companies

Listed

No. of Companies

Traded


Listed

No. of Companies

Listed

No. of Companies

Traded


Listed2018-19 5,262 4,086 77.7 1,931 1,922 99.5 287 8 2.82019-20$ 5,292 3,746 70.8 1,892 1,860 98.3 288 7 2.1Apr-19 5,282 3,580 67.8 1,892 1,856 98.1 286 6 2.1May-19 5,292 3,587 67.8 1,892 1,860 98.3 288 5 1.7

$ indicates as on May 31,2019 Source: BSE, NSE and MSEI.

Table 30: Daily Volatility of Major Indices Year / Month BSE Sensex BSE 100 BSE 500 Nifty 50 Nifty Next

50 Nifty 500 SX40

2018-19 0.8 0.8 0.8 0.8 1.0 0.8 0.82019-20$ 0.9 0.9 0.9 0.9 0.9 0.9 0.0Apr-19 0.7 0.6 0.6 0.7 0.6 0.6 0.0May-19 1.1 1.1 1.1 1.1 1.1 1.1 0.0

Note: Volatility is calculated as the standard deviation of the natural log of daily returns in indices for the respective period. $ indicates as on May 31,2019Source: BSE, MSEI and NSE.

Table 31: Share of Top ‘N’ Securities/Members in Turnover of Cash Segment Year/ Month BSE NSE MSEI

Top 5 10 25 50 100 5 10 25 50 100 5 10 25 50 100Securities

2018-19 9.5 16.2 31.1 44.3 60.2 11.7 20.4 36.7 52.6 70.9 98.9 100 100 100 1002019-20$ 13.6 22.0 39.0 52.7 67.8 14.0 23.8 42.7 59.0 76.9 99.5 100 100 100 100Apr-19 16.8 26.9 42.9 56.3 70.3 14.9 25.0 43.0 59.5 76.7 99.5 100 100 100 100May-19 13.6 20.9 37.2 51.5 67.9 14.7 24.3 43.4 59.1 77.8 100 100 100 100 100

Members2018-19 24.2 38.4 61.0 73.5 84.5 22.5 34.3 54.6 72.4 85.7 94.7 100 100.0 100 1002019-20$ 31.0 45.2 62.4 73.6 84.0 24.8 37.9 58.3 75.4 87.4 88.1 100 100.0 100 100Apr-19 31.2 46.0 62.9 74.5 84.5 25.0 37.2 57.3 74.1 86.6 88.3 100 100.0 100 100May-19 33.5 45.6 62.9 73.9 84.2 24.6 38.5 59.3 76.7 88.2 88.7 100 100.0 100 100Mar-19 35.7 50.5 67.5 78.8 87.4 23.1 34.9 56.3 73.7 86.5 84.9 100.0 100.0 100.0 100.0

Notes: 1. Data for Top N scrips has been compiled for all markets except Auction market & Retail Debt Market and includes series EQ, BE,BT, BL and IL. 2. During the month only 57 members were permitted to trade..$ indicates as on May 31,2019 Source: BSE, NSE and MSEI.


518

Tabl

e 32

: Se

ttlem

ent S

tatis

tics

for C

ash

Segm

ent o

f B

SE

Year

/

Mon

th

No.

of

Tr

ades

(L

akh)

Trad

ed

Qua

ntity

(L

akh)

Del

iver

ed

Qua

ntity

(L

akh)

Perc

ent o

f D

eliv

ered

Q

uant

ity

to T

rade

d Q

uant

ity

Tur

nove

r (`

cro

re)

Del

iver

ed

Valu

e

(` c

rore

)

Perc

ent

of

Del

iver

ed

Valu

e to

Tot

al

Tur

nove

r

Del

iver

ed

Qua

ntity

in

Dem

at

Mod

e (L

akh)

Perc

ent

of D

emat

D

eliv

ered

Q

uant

ity

to T

otal

D

eliv

ered

Q

uant

ity

Del

iver

ed

Valu

e in

D

emat

M

ode

(`

cro

re)

Perc

ent

of D

emat

D

eliv

ered

Va

lue

to T

otal

D

eliv

ered

Va

lue

Shor

t D

eliv

ery

(Auc

-tio

ned

quan

tity)

(L

akh)

Perc

ent

of S

hort

D

eliv

ery

to

Del

iver

y Q

uant

ity

Fund

s Pa

y-in

(`

cro

re)

Secu

ritie

s Pa

y-in

(`

cro

re)

Settl

emen

t G

uara

ntee

Fu

nd

(`cr

ore)

2018

-19

3,14

55,

18,1

081,

95,6

1237

.57,

75,5

902,

61,2

0833

.11,

95,2

7899

.82,

61,2

0810

0.0

458

0.22

1,09

,584

1,94

,998

207

2019

-20$

543

1,05

,628

66,5

8660

.01,

18,5

4138

,549

32.6

33,4

9966

.838

,136

98.9

660.

2016

,711

38,5

9441

8A

pr-1

925

559

,515

49,9

9484

.056

,861

19,5

4834

.416

,965

33.9

19,1

9198

.231

0.18

10,4

0419

,570

208

May

-19

288

46,1

1316

,592

36.0

61,6

8019

,001

30.8

16,5

3499

.718

,944

99.7

350.

216,

306

19,0

2421

0

$ in

dica

tes

as o

n M

ay 3

1,20

19So

urce

: BSE

.

Tabl

e 33

: Se

ttlem

ent S

tatis

tics

for C

ash

Segm

ent o

f N

SE

Year

/

Mon

th

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Del

iver

ed

Qua

ntity

(L

akh)

Perc

ent o

f D

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ered

Q

uant

ity

to T

rade

d Q

uant

ity

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nove

r (`

cro

re)

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iver

ed

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e (`

cro

re)

Perc

ent

of

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ed

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e to

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al

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r

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iver

ed

Qua

ntity

in

Dem

at

Mod

e (L

akh)

Perc

ent

of D

emat

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eliv

ered

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uant

ity

to T

otal

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eliv

ered

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uant

ity

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iver

ed

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e in

D

emat

M

ode

(` c

rore

)

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ent

of D

emat

D

eliv

ered

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lue

to T

otal

D

eliv

ered

Va

lue

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t D

eliv

ery

(Auc

tione

d qu

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y)

(Lak

h)

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ent

of S

hort

D

eliv

ery

to

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iver

y Q

uant

ity

Fund

s Pa

y-in

(`

cror

e)

Secu

ritie

s Pa

y-in

(`

cro

re)

Settl

emen

t G

uara

ntee

Fu

nd

(`cr

ore)

2018

-19

28,4

5336

,68,

649

8,45

,400

23.0

79,1

2,28

419

,50,

906

24.7

8,44

,261

100.

019

,49,

508

100.

01,

139

0.1

5,33

,295

19,5

0,90

627

120

19-2

0$4,

900

6,83

,448

1,66

,921

24.4

14,3

9,24

83,

48,1

6624

.21,

66,7

0410

0.0

3,47

,887

100.

021

70.

193

,472

3,48

,166

276

Apr

-19

2,17

93,

18,7

6783

,716

26.3

6,60

,249

1,64

,990

25.0

83,6

1310

0.0

1,64

,855

100.

010

30.

143

,314

1,64

,990

273

May

-19

2,72

23,

64,6

8183

,205

22.8

7,78

,999

1,83

,175

23.5

83,0

9110

0.0

1,83

,033

100.

011

40.

150

,159

1,83

,175

276

Settl

emen

t Sta

tistic

s fo

r set

tlem

ent t

ype

N, e

xclu

ding

CM

Ser

ies

IL &

BL

$ in

dica

tes

as o

n M

ay 3

1,20

19So

urce

: NSE

.

Tabl

e 34

: Se

ttlem

ent S

tatis

tics

for C

ash

Segm

ent o

f M

SEI

Mon

th

Sort

ing

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Del

iver

ed

Qua

ntity

(L

akh)

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ent o

f D

eliv

ered

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uant

ity

to T

rade

d Q

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ity

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nove

r (`

cro

re)

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iver

ed

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e

(`

cror

e)

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ent

of

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iver

ed

Valu

e to

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al

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nove

r

Del

iver

ed

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ntity

in

Dem

at

Mod

e (L

akh)

Perc

ent

of D

emat

D

eliv

ered

Q

uant

ity

to T

otal

D

eliv

ered

Q

uant

ity

Del

iver

ed

Valu

e in

D

emat

M

ode

(`

cro

re)

Perc

ent

of D

emat

D

eliv

ered

Va

lue

to T

otal

D

eliv

ered

Va

lue

Fund

s Pa

y-in

(`

cro

re)

Secu

ritie

s Pa

y-in

(`

cro

re)

Settl

emen

t G

uara

ntee

Fu

nd

(` c

rore

)

2018

-19

0.01

914

1410

030

3010

014

100

3010

0.0

3030

020

19-2

0$0.

004

88

100

1515

100

810

015

100.

015

150

Apr

-19

0.00

24

410

07

710

04

100

710

0.0

77

0M

ay-1

90.

002

44

100

77

100

410

07

100.

07

70

$ in

dica

tes

as o

n M

ay 3

1, 2

019

Sour

ce: M

SEI.


519

Tabl

e 35

: Tr

ends

in E

quity

Der

ivat

ives

Seg

men

t at B

SE

Year

/

M

onth

No.

of

Trad

ing

Day

s

Inde

x Fu

ture

sSt

ock

Futu

res

Inde

x O

ptio

nsSt

ock

Opt

ions

Tota

lO

pen

Inte

rest

at t

he

end

of M

onth

Cal

lPu

tC

all

Put

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Tur

nove

r(`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Tur

nove

r(`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Tur

nove

r(`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

fco

ntra

cts

Tur

nove

r(`

cro

re)

2018

-19

248

438

3927

118

19,1

581,

309

11,2

9888

52

00

031

,167

2,25

09

120

19-2

0$41

192

796

00

00

00

00

988

71

Apr

-19

197

151

40

00

00

00

058

46

0M

ay-1

922

121

282

00

00

00

00

403

71

Not

e:

1. N

otio

nal T

urno

ver =

(Str

ike

Pric

e +

Pre

miu

m) *

Qua

ntity

.$

indi

cate

s as

on

May

31,

2019

Sour

ce: B

SE.

Tabl

e 36

: Tr

ends

in E

quity

Der

ivat

ives

Seg

men

t at N

SE

Year

/

M

onth

No.

of

Trad

ing

Days

Inde

x Fut

ures

Stoc

k Fut

ures

Inde

x Opt

ions

Stoc

k Opt

ions

Total

Open

Inter

est a

t the

en

d of

Mon

thCa

llPu

tCa

llPu

tN

o. of

Cont

racts

Turn

over

(` cr

ore)

No.

ofCo

ntra

ctsTu

rnov

er(`

cror

e)N

o. of

Cont

racts

Turn

over

(` cr

ore)

No.

ofCo

ntra

ctsTu

rnov

er(`

cror

e)N

o. of

Cont

racts

Turn

over

(` cr

ore)

No.

ofCo

ntra

ctsTu

rnov

er(`

cror

e)N

o. of

Cont

racts

Turn

over

(` cr

ore)

No.

ofco

ntra

ctsTu

rnov

er(`

cror

e)20

18-19

248

6,98,2

4,522

55,68

,914

25,55

,33,86

91,6

1,47,0

111,3

9,10,2

7,617

10,77

,26,32

71,2

6,14,2

9,870

9,55,7

6,078

12,35

,10,30

885

,17,92

06,3

4,76,2

3440

,64,45

43,1

6,48,0

2,420

23,76

,00,70

540

,38,91

62,8

6,403

2019

-20$

411,3

4,16,7

709,9

4,373

4,24,7

9,474

25,29

,680

33,98

,65,22

92,3

2,89,9

9228

,85,12

,853

1,93,7

0,157

1,99,8

4,643

12,84

,936

1,06,1

2,784

6,32,6

0671

,48,71

,753

4,81,0

1,743

40,00

,089

2,78,1

72Ap

r-19

1955

,21,41

34,0

6,219

1,88,1

9,091

11,59

,128

16,10

,93,85

81,0

8,60,2

7613

,77,19

,004

91,70

,370

99,36

,612

6,51,2

9550

,37,64

33,0

7,998

33,81

,27,62

12,2

5,55,2

8643

,97,03

53,0

0,028

May-1

922

78,95

,357

5,88,1

542,3

6,60,3

8313

,70,55

117

,87,71

,371

1,24,2

9,716

15,07

,93,84

91,0

1,99,7

861,0

0,48,0

316,3

3,641

55,75

,141

3,24,6

0837

,67,44

,132

2,55,4

6,457

40,00

,089

2,78,1

72

Not

e:

1. N

otio

nal T

urno

ver =

(Str

ike

Pric

e +

Pre

miu

m) *

Qua

ntity

.$

indi

cate

s as

on

May

31,

2019

So

urce

: NSE

.

Tabl

e 37

: Se

ttlem

ent S

tatis

tics

in E

quity

Der

ivat

ives

Seg

men

t at B

SE a

nd N

SE (

` cr

ore)

Year

/

M

onth

BSE

NSE

Inde

x/St

ock

Futu

res

Inde

x/St

ock

Opt

ions

Tota

lSe

ttlem

ent

Gur

ante

eFu

nd

Inde

x/St

ock

Futu

res

Inde

x/St

ock

Opt

ions

Tota

lSe

ttlem

ent

Gur

ante

eFu

ndM

TM

Settl

emen

tFi

nal

Settl

emen

tPr

emiu

mSe

ttlem

ent

Exe

rcis

eSe

ttlem

ent

MT

MSe

ttlem

ent

Fina

lSe

ttlem

ent

Prem

ium

Settl

emen

tE

xerc

ise

Settl

emen

t20

18-1

91

09

010

191,

36,6

402,

754

19,2

532,

535

1,61

,182

1,91

220

19-2

0$0

00

00

2020

,141

261

3,62

120

324

,226

1,95

5A

pr-1

90

00

00

207,

864

115

1,52

394

9,59

61,

936

May

-19

00

00

020

12,2

7714

62,

098

109

14,6

301,

955

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: B

SE a

nd N

SE.


520

Table 38: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of BSE

Year/Month

Percentage Share in Turnover Percentage Share in Open Interest

Pro FII Mutual Funds Banks Others Pro FII Mutual

Funds Banks Others

2018-19 2.0 0.0 0.0 0.0 98.0 0 0 0 0 1002019-20$ 20.7 0.0 0.0 0.0 79.3 9 0 0 0 91.5Apr-19 16.3 0.0 0.0 0.0 83.7 0 0 0 0 100May-19 25.1 0.0 0.0 0.0 74.9 9 0 0 0 91.5


Table 39: Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of NSE

Year/Month

Percentage Share in Turnover Percentage Share in Open Interest

Pro FPIs Mutual Funds Banks Others Pro FPIs Mutual

Funds Banks Others

2018-19 37.8 13.6 0.4 0.0 48.2 13.7 29.8 13.2 0.0 43.32019-20$ 32.6 19.5 0.3 0.0 47.5 11.4 28.7 14.4 0.0 45.6Apr-19 32.9 19.3 0.3 0.0 47.5 13.5 26.9 12.8 0.0 46.8May-19 32.4 19.8 0.3 0.0 47.6 11.4 28.7 14.4 0.0 45.6

$ indicates as on May 31,2019 Source: NSE.

Table 40: Instrument-wise Turnover in Index Derivatives at BSE Turnover (in Percentage)

Year/Month

BSE 30 SENSEX

BSE SENSEX

50

BSE BANKEX

BSE OIL & GAS

INDEX

BSE TECK

INDEXBSE100

HANG SENG Index

Futures

MICEX Index

Futures

FTSE/JSE

Top 40 Futures

IBOVES-PA Fu-tures

2018-19 41.3 0.0 58.7 0.0 0.0 0.0 0.0 0.0 0.0 0.02019-20$ 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Apr-19 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0May-19 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0


Table 41: Instrument-wise Turnover in Index Derivatives at NSE Turnover (in Percentage)

Year/Month

NIFTY NIFTY-IT

BANK NIFTY

NIFTY-MID50

NIF-TYPSE

NIFTY-INFRA

FTSE100 S&P 500

DJIA India VIX

NIFTY-CPSE

2018-19 26.2 0.0 73.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.02019-20$ 36.7 0.0 63.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Apr-19 32.7 0.0 67.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0May-19 40.2 0.0 59.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

$ indicates as on 31,2019 Source: BSE.


521

Tabl

e 42

: Tr

ends

in C

urre

ncy

Der

ivat

ives

Seg

men

t at B

SE

Year

/ M

onth

No.

of

Trad

ing

Day

s

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

Tota

lO

pen

Inte

rest

at t

he e

nd

of t

he M

onth

Cal

lPu

tN

o. o

f C

ontr

acts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

f C

ontr

acts

T

urno

ver

(` c

rore

)N

o. o

f C

ontr

acts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

ts

Valu

e (`

cro

re)

2018

-19

243

45,6

8,84

,165

32,0

6,48

924

,18,

69,2

6217

,19,

120

35,3

6,98

,730

24,2

6,66

61,

05,2

4,52

,157

73,5

2,27

47,

12,1

624,

929

2019

-20$

406,

37,4

8,60

04,

45,0

465,

50,0

6,07

63,

92,1

925,

77,7

7,91

63,

95,7

9617

,65,

32,5

9212

,33,

033

5,57

,625

3,88

9A

pr-1

918

2,84

,54,

552

1,98

,227

2,76

,48,

067

1,96

,543

2,72

,00,

048

1,85

,923

8,33

,02,

667

5,80

,692

12,7

7,02

98,

920

May

-19

223,

52,9

4,04

82,

46,8

182,

73,5

8,00

91,

95,6

493,

05,7

7,86

82,

09,8

749,

32,2

9,92

56,

52,3

415,

57,6

253,

889

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: B

SE.

Tabl

e 43

: Tr

ends

in C

urre

ncy

Der

ivat

ives

Seg

men

t at N

SE

Year

/

Mon

th

No.

of

Trad

ing

D

ays

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

Tota

lO

pen

Inte

rest

at t

heen

d of

Mon

th

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)

Cal

lPu

tN

o. o

f C

ontr

acts

T

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Valu

e(`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Tur

nove

r(`

cro

re)

2018

-19

243

65,0

0,24

,870

46,5

4,92

727

,59,

19,9

6419

,56,

020

27,2

4,39

,387

19,0

7,40

51,

19,8

3,84

,221

85,1

8,35

142

,05,

566

29,3

5120

19-2

0$40

10,1

0,34

,378

7,18

,051

4,92

,31,

614

3,45

,551

4,76

,06,

010

3,31

,013

19,7

8,72

,002

13,9

4,61

434

,08,

947

24,0

32A

pr-1

918

5,09

,44,

880

3,61

,285

2,51

,10,

750

1,75

,703

2,51

,40,

409

1,74

,368

10,1

1,96

,039

7,11

,355

50,6

2,68

135

,528

May

-19

225,

00,8

9,49

83,

56,7

662,

41,2

0,86

41,

69,8

482,

24,6

5,60

11,

56,6

459,

66,7

5,96

36,

83,2

5934

,08,

947

24,0

32N

otes

: 1

. Tra

ding

Val

ue :-

For

Fut

ures

, Val

ue o

f co

ntra

ct =

Tra

ded

Qty

*Tra

ded

Pric

e. 2

. For

Opt

ions

, Val

ue o

f co

ntra

ct =

Tra

ded

Qty

*(St

rike

Pric

e+Tr

aded

Pre

miu

m)

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: N

SE.

Tabl

e 44

: Tr

ends

in C

urre

ncy

Der

ivat

ives

Seg

men

t at M

SEI

Year

/

Mon

th

No.

of

Trad

ing

D

ays

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

Tota

lO

pen

Inte

rest

at t

heen

d of

Mon

th

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)

Cal

lPu

tN

o. o

f C

ontr

acts

T

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Valu

e(`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

fC

ontr

acts

Tur

nove

r(`

cro

re)

2018

-19

243

54,9

9,70

138

,195

5,74

,634

4,08

36,

97,3

314,

961

67,7

1,66

647

,239

18,7

1513

020

19-2

0$40

4,03

,601

2,84

71,

22,1

1488

01,

34,3

8395

66,

60,0

984,

683

13,5

3710

0A

pr-1

918

2,43

,494

1,70

50,

62,2

3944

40,

90,5

3763

23,

96,2

702,

780

19,4

1214

1M

ay-1

922

1,60

,107

1,14

30,

59,8

7543

60,

43,8

4632

42,

63,8

281,

903

13,5

3710

0$

indi

cate

s as

on

May

31,

2019

So

urce

: MSE

I


522

Tabl

e 45

: Se

ttlem

ent S

tatis

tics

of C

urre

ncy

Der

ivat

ives

Seg

men

t (`

cror

e)

Year

/

M

onth

BSE

Tota

l

NSE

Tota

l

MSE

I

Tota

lC

urre

ncy

Futu

res

Cur

renc

y O

ptio

nsC

urre

ncy

Futu

res

Cur

renc

y O

ptio

nsC

urre

ncy

Futu

res

Cur

renc

y O

ptio

ns

MT

MSe

ttlem

ent

Fina

lSe

ttlem

ent

Prem

ium

Settl

emen

tE

xerc

ise

Settl

emen

tM

TM

Settl

emen

tFi

nal

Settl

emen

tPr

emiu

mSe

ttlem

ent

Exe

rcis

eSe

ttlem

ent

MT

MSe

ttlem

ent

Fina

lSe

ttlem

ent

Prem

ium

Settl

emen

tE

xerc

ise

Settl

emen

t20

18-1

959

7019

135

6515

59,

882

8260

292

1287

643

10,4

8312

57

11

133

2019

-20$

777

1992

915

1,74

111

3420

207

521,

413

251

00

25A

pr-1

936

36

403

777

951

36

103

2664

815

00

015

4358

641

413

526

996

262

113

104

2776

510

10

010

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: B

SE, N

SE a

nd M

SEI.

Tabl

e 46

: In

stru

men

t-w

ise

Tur

nove

r in

Cur

renc

y D

eriv

ativ

e Se

gmen

t of

BSE

Ye

ar/

Mon

thT

urno

ver (

` cr

ore)

Ope

n In

tere

st a

s on

last

day

of

the

mon

th (i

n lo

ts)

USD

INR

EU

RIN

RG

BPI

NR

JPY

INR

EU

RU

SDG

BPU

SDU

SDJP

YU

SDIN

RE

UR

INR

GB

PIN

RJP

YIN

RE

UR

USD

GB

PUSD

USD

JPY

2018

-19

73,3

6,63

65,

354

4,94

11,

322

2,71

31,

275

337,

09,5

9487

31,

332

354

09

0

2019

-20$

12,3

2,51

410

027

614

30

00

5,48

,910

517

316

7,88

20

00

Apr

-19

5,80

,468

4613

940

00

012

,75,

372

308

946

403

00

0

May

-19

6,52

,047

5413

710

30

00

5,48

,910

517

316

7,88

20

00

1.

USD

INR

incl

udes

Fut

ures

and

opt

ions

bot

h ot

her c

urre

ncys

hav

e on

ly fu

ture

s til

l Feb

ruar

y 26

, 201

8.2.

A

ll Pr

oduc

ts in

clud

e bo

th F

utur

es &

opt

ions

from

Feb

ruar

y 27

, 201

8 on

war

ds.

3.

E

UR

USD

, GB

PUSD

, USD

JPY

wer

laun

ched

in F

eb 2

018

$ in

dica

tes

as o

n M

ay 3

1,20

19

So

urce

: BSE

Tabl

e 47

: In

stru

men

t-w

ise

Tur

nove

r in

Cur

renc

y D

eriv

ativ

es o

f N

SE

Year

/M

onth

Tur

nove

r ( `

cro

re)

Ope

n In

tere

st a

s on

last

day

of

the

mon

th (

in lo

ts)

USD

INR

EU

RIN

RG

BPI

NR

JPY

INR

EU

RU

SDG

BPU

SDU

SDJP

YU

SDIN

RE

UR

INR

GB

PIN

RJP

YIN

RE

UR

USD

GB

PUSD

USD

JPY

2018

-19

79,7

8,93

41,

76,0

612,

26,7

5259

,106

42,6

6233

,644

1,19

340

,59,

718

50,5

0137

,698

21,8

0133

,796

1,97

874

2019

-20$

13,1

3,27

321

,454

46,3

239,

749

1,93

91,

854

2331

,77,

157

52,4

0962

,720

53,1

5052

,551

10,6

2933

1

Apr

-19

6,73

,981

10,0

9221

,981

3,52

089

787

311

49,1

1,96

249

,395

32,4

1323

,666

42,5

502,

631

64

May

-19

6,39

,292

11,3

6124

,341

6,23

01,

041

982

1231

,77,

157

52,4

0962

,720

53,1

5052

,551

10,6

2933

1

1. C

ross

Cur

renc

y w

as in

trod

uced

wef

Feb

27,

201

8

2. O

ptio

ns c

ontr

acts

on

EU

RIN

R,G

BPI

NR

,JPY

INR

wer

e in

trod

uced

wef

Feb

27,

201

8

$ in

dica

tes

as o

n M

ay 3

1,20

19

So

urce

: NSE

.


523

Tabl

e 48

: In

stru

men

t-w

ise

Tur

nove

r in

Cur

renc

y D

eriv

ativ

e Se

gmen

t of

MSE

I

Year

/M

onth

Tur

nove

r ( `

cro

re)

Ope

n In

tere

st a

s on

last

day

of

the

mon

th (

in lo

ts)

USD

INR

EU

RIN

RG

BPI

NR

JPY

INR

EU

RU

SDG

BPU

SDU

SDJP

YU

SDIN

RE

UR

INR

GB

PIN

RJP

YIN

RE

UR

USD

GB

PUSD

USD

JPY

2018

-19

45,3

8868

31,

144

222

00

18,6

4953

76

00

0

2019

-20$

4,25

619

822

72

00

09,

714

2,03

41,

745

440

00

Apr

-19

2,66

060

601

00

016

,184

1,59

31,

629

60

00

May

-19

1,59

713

816

71

00

09,

714

2,03

41,

745

440

00

Dat

a in

clud

es N

otio

nal V

alue

for O

ptio

ns

Exc

lude

s da

ta o

f In

tere

st R

ate

Futu

res

$

indi

cate

s as

on

May

31,

2019

So

urce

: MSE

I

Tabl

e 49

: M

atur

ity-w

ise

Tur

nove

r in

Cur

renc

y D

eriv

ativ

e Se

gmen

t of

BSE

Ye

ar/M

onth

Cur

renc

y Fu

ture

sW

eekl

yC

urre

ncy

Opt

ions

Wee

kly

1 M

onth

2 M

onth

3 M

onth

> 3

Mon

ths

1 M

onth

2 M

onth

3 M

onth

> 3

Mon

ths

2018

-19

40,7

2528

,21,

842

3,28

,322

9,82

61,

918

1,28

,051

37,0

1,09

23,

15,3

071,

160

127

2019

-20$

7,56

03,

88,5

2948

,169

770

1873

,475

6,62

,920

51,5

7024

0A

pr-1

94,

320

1,69

,144

24,4

3431

811

27,8

483,

27,2

5727

,355

40

May

-19

3,24

02,

19,3

8523

,734

452

745

,626

3,35

,662

24,2

1520

0$

indi

cate

s as

on

May

31,

2019

Sour

ce: B

SE

Tabl

e 50

: M

atur

ity-w

ise

Tur

nove

r in

Cur

renc

y D

eriv

ativ

e Se

gmen

t of

NSE

Year

/Mon

thC

urre

ncy

Futu

reC

urre

ncy

Opt

ions

1 M

onth

2 M

onth

3

Mon

th>

3 M

onth

s1

Mon

th2

Mon

th3

Mon

th>

3 M

onth

s20

18-1

937

,19,

230

8,28

,483

70,7

1736

,497

26,4

6,03

15,

78,5

712,

42,2

283,

96,5

95

2019

-20$

5,57

,314

1,43

,401

12,1

605,

176

3,66

,043

1,21

,210

0,70

,256

1,19

,054

Apr

-19

2,77

,113

0,74

,401

6,54

93,

222

1,89

,409

0,47

,930

0,42

,278

0,70

,453

May

-19

2,80

,202

0,69

,000

5,61

01,

954

1,76

,634

0,73

,280

0,27

,978

0,48

,601

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: N

SE.


524

Table 51: Maturity-wise Turnover in Currency Derivative Segment of MSEI

Year/Month

Currency Future Currency Options

1 Month 2 Month 3 Month > 3 Months 1 Month 2 Month 3 Month > 3 Months

2018-19 33,139 4,978 55 23 5,703 3,165 176 0

2019-20$ 2,656 191 0 0 1,793 43 0 0

Apr-19 1,612 92 0 0 1,048 28 0 0

May-19 1,044 98 0 0 745 16 0 0$ indicates as on May 31,2019 Source: MSEI

Table 52: Trading Statistics of Interest Rate Futures at BSE, NSE and MSEI

Year/ Month

No. of Trading

Days

BSE NSE MSEI

Interest Rate Futures Open Interest atthe end of Interest Rate Futures Open Interest at

the end of Interest Rate Futures Open Interest atthe end of

No. of Contracts

Traded Value

(` crore)

No. of Contracts

Traded Value

(` crore)

No. ofContracts

Traded Value

(` crore)

No. ofContracts

Value (` crore)

No. of Contracts

Traded Value

(` crore)

No. of Contracts

Value (` crore)

2018-19 243 59,01,468 1,11,222 60,205 1,214 1,27,64,150 2,45,407 1,03,589 2,054 0 0 0 0

2019-20$ 40 6,80,128 13,236 60,668 1,255 23,77,138 46,759 1,40,085 2,849 0 0 0 0

Apr-19 18 2,46,140 4,738 66,107 1,320 12,32,112 24,098 1,22,799 2,432 0 0 0 0

May-19 22 4,33,988 8,498 60,668 1,255 11,45,026 22,662 1,40,085 2,849 0 0 0 0

$ indicates as on May 31,2019 Source: BSE, NSE and MSEI

Table 53: Settlement Statistics in Interest Rate Futures at BSE, NSE and MSEI

Year/ Month

BSE NSE MSEI

MTMSettlement

Physical Delivery

Settlement

MTMSettlement

Physical Delivery

Settlement

MTM Settlement

Physical Delivery

Settlement2018-19 309 14 635 13 0.05 02019-20$ 136.6 1.5 147.9 2.0 0 0Apr-19 58.4 0.9 63.7 1.6 0 0May-19 78.2 0.6 84.2 0.4 0 0

$ indicates as on May 31,2019 Source: NSE, BSE and MSEI

Table 54: Trends in Foreign Portfolio Investment

Year/Month Gross Purchase (` crore)

Gross Sales (` crores)

Net Investment (` crores)

Net Investment (US' $ mn.)

Cumulative Net Investment (US $ mn.)

2018-19 16,40,810 16,79,741 -38,931 -5,499 2,48,1542019-20$ 3,08,302 2,80,204 28,098 4,045 2,52,199Apr-19 1,35,800 1,19,072 16,728 2,407 2,50,561May-19 1,72,502 1,61,132 11,370 1,638 2,52,199

$ indicates as on May 31,2019 Source: NSDL, CDSL


525

Tabl

e 55

: N

otio

nal V

alue

of

Offs

hore

Der

ivat

ive

Inst

rum

ents

(OD

Is) V

s A

sset

s U

nder

Cus

tody

(AU

C) o

f FP

Is/D

eem

ed(`

cro

re)

Year

/ M

onth

Not

iona

l val

ue o

f O

DIs

on

Equ

ity, D

ebt &

D

eriv

ativ

es

Not

iona

l val

ue o

f O

DIs

on

Equ

ity &

Deb

t ex

clud

ing

Der

ivat

ives

Ass

ets

Und

er C

usto

dy

of F

PIs/

Dee

med

FPI

s

Not

iona

l val

ue o

f O

DIs

on

Equ

ity, D

ebt

& D

eriv

ativ

es a

s %

of

A

sset

s U

nder

Cus

tody

of

FPI

s/D

eem

ed F

PIs

Not

iona

l val

ue o

f O

DIs

on

Equ

ity &

Deb

t ex

clud

ing

Der

ivat

ives

as

% o

f A

sset

s U

nder

Cus

tody

of

FPIs

/D

eem

ed F

PIs

2018

-19

78,1

1077

,287

33,4

2,68

02.

32.

320

19-2

0$81

,220

80,3

6233

,55,

045

2.4

2.4

Apr

-19

81,2

2080

,362

33,5

5,04

52.

42.

4M

ay-1

982

,619

82,4

2634

,17,

679

2.4

2.4

Not

es:

1.

Fig

ures

are

com

pile

d ba

sed

on re

port

s su

bmitt

ed b

y FP

Is/d

eem

ed F

PIs

issu

ing

OD

Is.

2.

Col

umn

4 Fi

gure

s ar

e co

mpi

led

on th

e ba

sis

of re

port

s su

bmitt

ed b

y cu

stod

ians

& d

oes

not i

nclu

des

posi

tions

take

n by

FPI

s/de

emed

FPI

s in

der

ivat

ives

. 3.

T

he to

tal v

alue

of

OD

Is e

xclu

des

the

unhe

dged

pos

ition

s &

por

tfolio

hed

ging

pos

ition

s ta

ken

by th

e FP

Is/d

eem

ed F

PIs

issu

ing

OD

Is.

$ in

dica

tes

as o

n M

ay 3

1,20

19

So

urce

: SE

BI.

Tabl

e 56

: A

sset

s un

der t

he C

usto

dy o

f C

usto

dian

s

Type

of

Clien

tFP

Is

Fore

ign

Depo

sitor

iesFD

IIn

vestm

ents

Fore

ign

Vent

ure

Capi

talIn

vestm

ents

OCBs

NRI

sM

utua

lFu

nds

Corp

orate

sBa

nks

Insu

ranc

eCo

mpa

nies

Loca

lPe

nsio

nFu

nds

Fina

ncial

Insti

tutio

nsOt

hers

Total

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

No.

Amou

nt

(`cr

ore)

2018

-199,5

5633

,42,68

064

3,54,3

401,8

678,0

2,860

201

37,26

124

1,949

547

3,486

1,755

22,78

,220

499

1,04,5

6311

73,2

0,445

781

17,32

,889

120

4,22,3

1725

60,86

619

,018

7,91,0

8834

,574

102,5

2,963

2019

-20$

9,549

34,17

,679

673,5

8,022

1,898

8,39,8

3420

138

,274

251,9

7357

33,5

511,7

4423

,68,18

850

11,0

4,228

115

3,25,1

1178

517

,57,18

212

64,3

6,160

2559

,591

19,68

28,2

3,064

35,29

110

5,32,8

57Ap

r-19

9,518

33,55

,045

643,5

4,292

1,895

8,13,0

4920

137

,268

241,9

6755

43,4

771,7

3923

,23,16

949

91,0

2,764

117

3,29,8

6978

317

,38,75

512

64,2

7,420

2561

,094

19,29

67,9

5,703

34,84

110

3,43,8

72M

ay-19

9,549

34,17

,679

673,5

8,022

1,898

8,39,8

3420

138

,274

251,9

7357

33,5

511,7

4423

,68,18

850

11,0

4,228

115

3,25,1

1178

517

,57,18

212

64,3

6,160

2559

,591

19,68

28,2

3,064

35,29

110

5,32,8

57

Not

es:

1.

With

the

com

men

cem

ent o

f FP

I R

egim

e fr

om Ju

ne 1

, 201

4, th

e er

stw

hile

FII

s, S

ub A

ccou

nts

and

QFI

s ar

e m

erge

d in

to a

new

inve

stor

cla

ss te

rmed

as

.For

eign

Por

tfolio

Inv

esto

rs (F

PIs)

.2.

“

Oth

ers”

incl

ude

Port

folio

man

ager

, par

tner

ship

firm

, tru

sts,

dep

osito

ry re

ceip

ts, A

IFs,

FC

CB

, HU

Fs, B

roke

rs e

tc.

$ in

dica

tes

as o

n M

ay 3

1,20

19So

urce

: Cus

todi

ans.

Tabl

e 57

: Tr

ends

in R

esou

rce

Mob

iliza

tion

by M

utua

l Fun

ds

Year

/

Mon

th

Gro

ss M

obili

satio

nR

edem

ptio

nN

et I

nflow

/ O

utflo

wA

sset

s at

the

End

of

Perio

dPv

t. Se

ctor

Publ

ic

Sect

orTo

tal

Pvt.

Sect

orPu

blic

Se

ctor

Tota

lPv

t. Se

ctor

Publ

ic

Sect

orTo

tal

2018

-19

1,96

,52,

989

47,4

1,37

42,

43,9

4,36

21,

95,9

1,48

346

,93,

178

2,42

,84,

661

61,5

0548

,196

1,09

,701

23,7

9,66

320

19-2

0$33

,82,

861

7,77

,945

41,6

0,80

732

,53,

644

7,29

,713

39,8

3,35

712

9,21

714

7,43

91,

77,4

5025

,93,

560

Apr

-19

15,0

7,08

93,

66,4

2718

,73,

516

14,4

1,19

93,

31,8

5717

,73,

056

65,8

9034

,570

1,00

,460

24,7

8,75

7M

ay-1

918

,75,

772

4,11

,518

22,8

7,29

118

,12,

445

3,97

,856

22,1

0,30

163

,327

1,12

,870

76,9

9025

,93,

560

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: S

EB

I


526

Tabl

e 58

: Sta

tus

of M

utua

l Fun

ds I

ndus

try

in I

ndia

Sr.

No.

Sche

me C

atego

ry20

19-2

0$M

ay-19

No.

of

sche

mes

N

o. of

Fo

lios

Fund

s m

obili

zed

Repu

r-ch

ase/

Re-

dem

ptio

Net

Inflo

w (+

ve)/

Ou

tflow

(-v

e)

Net

Asse

ts Un

der

Man

age-

men

t as o

n

No.

of

sche

mes

N

o. of

Fo

lios

Fund

s m

obili

zed

Repu

r-ch

ase/

Re-

dem

ptio

Net

Inflo

w (+

ve)/

Ou

tflow

(-v

e)

Net

As-

sets

Un-

der M

an-

agem

ent

as on

AOp

en en

ded

Sche

mes

IIn

come

/Deb

t Orie

nted

Sche

mes

306

52,39

,902

40,88

,507

38,97

,467

1,91,0

4011

,70,25

030

652

,39,90

222

,46,65

921

,76,53

970

,119

11,70

,250

IIGr

owth

/Equ

ity O

rient

ed Sc

heme

s31

05,8

3,56,7

3837

,015

26,99

810

,016

7,24,0

3431

05,8

3,56,7

3819

,575

14,16

75,4

087,2

4,034

IIIHy

brid

Sche

mes

126

96,25

,378

23,21

423

,563

-349

3,42,5

3812

696

,25,37

812

,955

11,68

91,2

663,4

2,538

IVSo

lution

Orie

nted

Sch

emes

3053

,80,13

654

120

933

216

,932

3053

,80,13

628

410

917

516

,932

VOt

her S

chem

es13

316

,53,32

810

,302

11,88

2-1,

580

1,48,9

5213

316

,53,32

86,9

754,3

242,6

511,4

8,952

Total

A-O

pen e

nded

Sche

mes

905

8,02,5

5,482

41,59

,579

39,60

,119

1,99,4

6024

,02,70

790

58,0

2,55,4

8222

,86,44

822

,06,82

979

,619

24,02

,707

BCl

ose

Ende

d Sc

hem

es

IIn

come

/Deb

t Orie

nted

Sche

mes

898

11,94

,866

1,219

22,17

0-20

,951

1,54,1

2489

811

,94,86

683

52,8

36-2,

001

1,54,1

24

IIGr

owth

/Equ

ity O

rient

ed Sc

heme

s12

517

,75,16

80

819

-819

34,50

712

517

,75,16

80

439

-439

34,50

7

IIIOt

her S

chem

es0

00

00

00

00

00

0

Total

B -C

lose e

nded

Sche

mes

1,023

29,70

,034

1,219

22,98

9-21

,769

1,88,6

321,0

2329

,70,03

483

53,2

75-2,

440

1,88,6

32

CIn

terva

l Sch

emes

IIn

come

/Deb

t Orie

nted

Sche

mes

254,5

228

249

-241

1,737

254,5

228

197

-188

1,737

IIGr

owth

/Equ

ity O

rient

ed Sc

heme

s1

12,01

80

00

485

112

,018

00

048

5

IIIOt

her S

chem

es0

00

00

00

00

00

0

Total

C -I

nter

val S

chem

es26

16,54

08

249

-241

2,221

2616

,540

819

7-18

82,2

21

Total

(A+B

+C)

1,954

8,32,4

2,056

41,60

,807

39,83

,357

1,77,4

5025

,93,56

01,9

548,3

2,42,0

5622

,87,29

122

,10,30

176

,990

25,93

,560

Fund

of F

unds

Sche

me (D

omest

ic)42

4,46,6

781,1

1717

494

25,3

1942

4,46,6

7854

494

450

5,319

Sour

ce: S

EB

I.


527

Tabl

e 59

: Tr

ends

in T

rans

actio

ns o

n St

ock

Exc

hang

es b

y M

utua

l Fun

ds

Year

/

Mon

th

Equ

ityD

ebt

Tota

l

Gro

ss

Purc

hase

sG

ross

Sal

esN

et

Purc

hase

s /

Sale

s

Gro

ss

Purc

hase

sG

ross

Sal

esN

et

Purc

hase

s /

Sale

sG

ross

Pur

chas

esG

ross

Sal

esN

et p

urch

ases

/Sa

le

2018

-19

7,08

,991

6,21

,112

87,8

7922

,67,

416

18,7

7,49

03,

89,9

2529

,76,

407

24,9

8,60

34,

77,8

04

2019

-20$

1,08

,354

1,07

,790

564

4,68

,664

3,86

,504

82,1

605,

77,0

194,

94,2

9482

,724

Apr

-19

46,9

3251

,532

-4,6

002,

26,4

611,

75,6

4150

,820

2,73

,393

2,27

,172

46,2

20

May

-19

61,4

2256

,259

5,16

42,

42,2

032,

10,8

6331

,340

3,03

,626

2,67

,122

36,5

04

$ in

dica

tes

as o

n M

ay 3

1,20

19

Sour

ce: S

EB

I

Tabl

e 60

: A

sset

Und

er M

anag

emen

t by

Port

folio

Man

ager

Year

/ M

onth

2018

-1920

19-2

0$

Parti

cular

sDi

scre

tiona

ryN

on-

Disc

retio

nary

Advis

ory

Disc

retio

nary

Non

-Di

scre

tiona

ryAd

visor

y**

Parti

cular

sDi

scre

tiona

ry#

Non

-Di

scre

tiona

ryAd

visor

y*

No. o

f Clie

nts

1,38,8

296,8

534,0

381,4

3,065

7,242

3,973

No.

of C

lient

s14

0583

7025

4010

AUM

(` cr

ore)

AUM

(` C

rore

)

184,6

06.81

Liste

d Equ

ity1,1

1,996

18,47

71,9

3,620

1,14,2

9319

,357

1,86,4

42

Liste

d Eq

uity

1,11,0

430,1

8,588

Unlis

ted E

quity

459

7548

283

Unlis

ted E

quity

482

78

Plain

Deb

t11

,60,85

774

,702

10,56

,163

77,23

6Pl

ain D

ebt

10,41

,126

0,76,2

73

Struc

tured

Deb

t75

353

11,0

3461

7Str

uctur

ed D

ebt

1,015

579

Equit

y Deri

vativ

es46

6-1

342

-1Eq

uity D

eriva

tive

462

-1

Mutu

al Fu

nds

14,11

313

,856

12,42

312

,435

Mutu

al Fu

nd11

,109

13,73

7

Othe

rs14

,498

1,392

125,7

721,5

57Ot

hers

162,7

321,5

04

Total

*13

,03,14

11,0

9,031

13,10

,508

1,11,2

84*T

otal

13,27

,967

1,10,7

57

Not

es:

1. *

One

PM

S en

tity

has

clos

ed/t

erm

inat

ed it

s PM

S ac

tiviti

es a

s on

Mar

ch 3

1, 2

019.

The

dat

a in

clud

es h

oldi

ng/A

UM

not

yet

tran

sfer

red

to o

ther

Fun

d M

anag

ers.

2. *

*Val

ue o

f A

sset

s fo

r whi

ch A

dvis

ory

Serv

ices

are

bei

ng g

iven

. .3.

of

the

abov

e AU

M R

s. 1

1,67

,107

/- C

ores

are

con

trib

uted

by

fund

s fr

om E

PFO

/PFs

.4.

The

abo

ve d

ata

is b

ased

on

the

mon

thly

repo

rt re

ceiv

ed fr

om P

ortfo

lio M

anag

ers.

$

indi

cate

s as

on

May

31,

2019

So

urce

: SE

BI.


528

Tabl

e 61

: Pr

ogre

ss R

epor

t of

NSD

L &

CD

Sl a

s on

end

of

Mon

th (L

iste

d C

ompa

nies

)

Para

met

erU

nit

NSD

LC

DSL

May

-19

Apr

-19

May

-18

%

Cha

nge

durin

g th

e ye

ar"

"%

Cha

nge

durin

g th

e m

onth

"

May

-19

Apr

-19

May

-18

"%

Cha

nge

durin

g th

e ye

ar"

"%

Cha

nge

durin

g th

e m

onth

"

Num

ber o

f co

mpa

nies

sign

ed u

p to

mak

e th

eir s

hare

s ava

ilabl

e fo

r dem

ater

ializ

atio

nN

umbe

r 5

,641

6

,168

5

,964

-5

.4-8

.5 6

,295

5

,763

6

,784

-7

.29.

2

Num

ber o

f D

epos

itory

Par

ticip

ants

(re

gist

ered

)N

umbe

r 2

78

278

2

77

0.4

0.0

599

5

98

602

-0

.50.

2

Num

ber o

f St

ock

Exc

hang

es (c

onne

cted

)N

umbe

r 3

3

3

0.

00.

0 3

3

3

0.

00.

0

Num

ber o

f In

vest

ors A

ccou

nts

Lakh

187

1

86

172

8.

30.

4 1

78

176

1

52

17.4

1.3

Qua

ntity

of

Shar

es d

emat

eria

lized

Cro

re 5

3,04

0 5

3,17

1 5

0,30

8 5.

4-0

.2 2

0,33

3 1

8,74

8 1

5,87

8 28

.18.

5

Valu

e of

Sha

res d

emat

eria

lized

Cro

re 1

3,36

2,48

5 1

3,18

8,18

0 1

2,52

1,07

5 6.

71.

3 1

,838

,468

1

,753

,988

1

,807

,246

1.

74.

8

Qua

ntity

of

Secu

ritie

s dem

ater

ializ

ed #

Cro

re 5

7,03

9 5

7,15

7 5

3,70

3 6.

2-0

.2 2

1,93

0 2

0,39

8 1

7,09

5 28

.37.

5

Valu

e of

Sec

uriti

es d

emat

eria

lized

#C

rore

16,

197,

871

16,

011,

891

15,

084,

902

7.4

1.2

1,9

66,0

55

1,8

81,6

05

1,9

06,1

76

3.1

4.5

Qua

ntity

of

shar

es se

ttled

dur

ing

the

mon

thC

rore

1,0

70

1,0

26

1,0

24

4.4

4.3

582

5

77

698

-1

6.6

0.8

Aver

age

Qua

ntity

of

shar

es se

ttled

dai

ly

(qua

ntity

of

shar

es se

ttled

dur

ing

the

mon

th

(div

ided

by

30))

Cro

re 4

9 5

7 4

9 -0

.3-1

4.7

19

19

23

-16.

6-2

.4

Valu

e of

shar

es se

ttled

dur

ing

the

mon

th in

de

mat

eria

lized

form

Cro

re 2

80,4

02

255

,008

2

67,3

88

4.9

10.0

59,

071

54,

026

67,

582

-12.

69.

3

Aver

age

Valu

e of

shar

es se

ttled

dai

ly (v

alue

of

shar

es se

ttled

dur

ing

the

mon

th (d

ivid

ed

by 3

0))

Cro

re 1

2,74

6 1

4,16

7 1

2,73

3 0.

1-1

0.0

1,9

06

1,8

01

2,1

80

-12.

65.

8

Trai

ning

Pro

gram

mes

con

duct

ed fo

r re

pres

enta

tives

of

Cor

pora

tes,

DPs

and

Br

oker

s

Num

ber

10

9

14

-28.

611

.1 6

1 2

1 1

45

-57.

919

0.5

The

ratio

of

dem

ater

ializ

ed e

quity

shar

es to

th

e to

tal o

utst

andi

ng sh

ares

mar

ket v

alue

Perc

ent

86.

6 8

6.8

85.

8 0.

9-0

.111

.811

.512

.4-4

.63.

1

Not

es:

1. S

hare

s in

clud

es o

nly

equi

ty s

hare

s.

2. S

ecur

ities

incl

ude

com

mon

equ

ity s

hare

s, p

refe

renc

e sh

ares

, deb

entu

re, M

F un

its, e

tc.

3. N

o. o

f da

ys ta

ken

for c

alcu

latin

g D

aily

Ave

rage

is 3

0 da

ys in

stea

d of

Act

ual s

ettle

men

t day

s.

4. Q

uant

ity a

nd v

alue

of

shar

es m

entio

ned

are

sing

le s

ided

. 5. #

Sour

ce fo

r lis

ted

secu

ritie

s in

form

atio

n: I

ssue

r/ N

SE/B

SE..

So

urce

: NSD

L an

d C

DSL

.


529

Tabl

e 62

: Pr

ogre

ss o

f D

emat

eria

lisat

ion

at N

SDL

and

CD

SL (L

iste

d an

d U

nlis

ted

Com

pani

es)

Ye

ar/

Mon

thN

SDL

CD

SLC

ompa

nies

Li

veD

Ps L

ive

DPs

Lo

catio

nsD

emat

Q

uant

ity

(mill

ion

secu

ritie

s)

Dem

at

Valu

e

(` c

rore

)

Com

pani

es

Live

DPs

Liv

eD

Ps

Loca

tions

Dem

at

Qua

ntity

(m

illio

n se

curit

ies)

Dem

at V

alue

(`

cro

re)

2018

-19

25,2

3327

730

,741

18,6

7,40

81,

86,8

0,37

212

,757

597

19,4

603,

61,8

7620

,79,

693

2019

-20$

26,5

1327

8*30

,946

19,5

8,06

21,

95,8

0,61

613

,218

599

19,4

283,

96,1

2721

,71,

374

Apr

-19

25,8

4127

830

,898

18,9

8,00

71,

88,4

6,58

613

,009

598

19,4

613,

73,8

9720

,79,

779

May

-19

26,5

1327

8*30

,946

19,5

8,06

21,

95,8

0,61

613

,218

599

19,4

283,

96,1

2721

,71,

374

Not

es :

1. F

or C

DSL

, the

cur

rent

and

his

toric

al d

ata

of C

ompa

nies

Liv

e ha

s be

en re

vise

d to

exc

lude

MF

sche

mes

cou

nt.

2. T

he C

ompa

nies

Liv

e fig

ure

incl

udes

onl

y th

e nu

mbe

r of

mut

ual f

und

com

pani

es a

nd n

ot th

e m

utua

l fun

d sc

hem

es.

3. D

Ps L

ocat

ions

repr

esen

ts th

e to

tal l

ive

(mai

n D

Ps a

nd b

ranc

h D

Ps a

s w

ell a

s no

n-liv

e (b

ack

offic

e co

nnec

ted

colle

ctio

n ce

ntre

s)*

Incl

udes

Nin

e Pa

rtic

ipan

ts w

hich

are

und

er c

losu

re/t

erm

inat

ion

proc

ess

and

SEB

I re

gist

ratio

n is

not

yet

can

celle

d/su

spen

ded

So

urce

: NSD

L an

d C

DSL

.

Tabl

e 63

: D

epos

itory

Sta

tistic

s

Part

icul

ars

Uni

tD

ebt

Equ

ityO

ther

sTo

tal

List

edU

nlis

ted

List

edU

nlis

ted

List

edU

nlis

ted

List

edU

nlis

ted

NSD

LN

o.of

issu

ers d

ebt/

Com

pani

es(e

quity

)(n

umbe

rs)

798

1,80

95,

641

17,4

5811

04,

772

6,54

924

,039

No.

of A

ctiv

e In

stru

men

ts(n

umbe

rs)

10,4

346,

488

11,3

7118

,820

8,46

833

,317

30,2

7358

,625

Dem

at Q

uant

ity(la

khs)

115,

449

498,

855

5,30

4,00

28,

924,

766

284,

492

4,45

3,05

35,

703,

942

13,8

76,6

74D

emat

Val

ue(R

s.C

rore

)2,

617,

196

499,

351

13,3

62,4

8588

5,24

021

8,19

01,

452,

673

16,1

97,8

712,

837,

263

Qua

ntity

settl

ed d

urin

g th

e m

onth

(Lak

h)10

,911

1,36

610

6,98

577

3,20

51,

594

121,

100

3,03

7Va

lue

Settl

ed d

urin

g th

e m

onth

(Rs.

Cro

res)

425,

830

27,7

6328

0,40

220

2,71

745

970

8,94

928

,242

CD

SLN

o. o

f Is

suer

s (D

ebt)

/ C

ompa

nies

(Equ

ity)

(num

bers

)55

941

562

9565

4224

6657

393

2075

30N

o. o

f A

ctiv

e In

stru

men

ts(n

umbe

rs)

7965

2401

5717

6794

1949

819

8733

180

1118

2D

emat

Qua

ntity

(lakh

)30

13.9

014

8184

.71

2033

315.

1714

5513

4.75

1566

38.2

116

4980

.76

2192

967.

2817

6830

0.23

Dem

at V

alue

(Rs.

cror

e)61

958.

1438

446.

3018

3846

7.76

1414

18.0

565

629.

0525

454.

8219

6605

4.94

2053

19.1

7Q

uant

ity se

ttled

dur

ing

the

mon

th(la

kh)

25.4

70.

0058

223.

990.

0013

855.

630.

0072

105.

090.

00Va

lue

Settl

ed d

urin

g th

e m

onth

(Rs.

cror

e)12

89.8

00.

0059

070.

990.

0011

479.

920.

0071

840.

720.

00N

ote:

T

he c

ateg

orie

s in

clud

ed in

Oth

ers

are

Pref

eren

ce S

hare

s, M

utua

l Fun

d U

nits

, War

rant

s, P

TC

s, T

reas

ury

Bill

s, C

Ps, C

Ds

and

Gov

ernm

ent S

ecur

ities

.

So

urce

: NSD

L an

d C

DSL

.


530

Tabl

e 65

: N

umbe

r of

Com

mod

ities

Per

mitt

ed a

nd tr

aded

at E

xcha

nges

Exc

hang

esPa

rtic

ular

s

Futu

res

Opt

ions

Agr

icul

ture

Met

als

othe

r th

an b

ullio

nB

ullio

n E

nerg

y G

ems

and

Ston

esA

gric

ultu

reM

etal

s ot

her t

han

bulli

onB

ullio

n E

nerg

y

NC

DE

XPe

rmitt

ed fo

r tra

ding

182

11

05

00

0C

ontra

cts fl

oate

d 18

00

00

50

00

Trad

ed15

00

00

20

00

MC

XPe

rmitt

ed fo

r tra

ding

86

32

00

22

1C

ontra

cts fl

oate

d 7

62

20

02

21

Trad

ed4

52

20

02

21

ICE

XPe

rmitt

ed fo

r tra

ding

121

00

10

00

0C

ontra

cts fl

oate

d 11

10

01

00

00

Trad

ed3

10

01

00

00

BSE

Perm

itted

for t

radi

ng3

12

10

00

00

Con

tract

s floa

ted

31

21

00

00

0Tr

aded

31

20

00

00

0

NSE

Perm

itted

for t

radi

ng0

12

10

00

00

Con

tract

s floa

ted

00

21

00

00

0Tr

aded

00

21

00

00

0

Sour

ce: N

CD

EX

, MC

X, I

CE

X, B

SE a

nd N

SE

Tabl

e 66

: Tre

nds

in c

omm

odity

indi

ces

Ye

ar/

Mon

thM

CX

Com

dex

NC

DE

X D

haan

yaO

pen

Hig

hLo

wC

lose

Ope

nH

igh

Low

Clo

se20

18-1

93,

663

4,17

23,

312

3,73

93,

051

3,59

02,

838

3,41

420

19-2

0$3,

742

3,84

03,

742

3,57

73,

450

3,60

43,

450

3,61

5A

pr-1

93,

742

3,84

03,

742

3,76

93,

450

3,60

43,

450

3,50

1M

ay-1

93,

769

3,76

93,

572

3,57

73,

507

3,67

43,

498

3,61

5$

indi

cate

s as

on

May

31,

201

9

So

urce

: MC

X a

nd N

CD

EX


531

Tabl

e 67

: Tre

nds

in c

omm

odity

der

ivat

ives

at M

CX

FU

TURE

S

Year

/

Mon

th

No.

of

Trad

ing

days

Agric

ultu

reM

etal

sBu

llion

Ener

gyTo

tal

Ope

n in

tere

st a

t the

en

d of

the

perio

d

Volu

me

('000

to

nnes

)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

Volu

me

('000

to

nnes

)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

Volu

me

('000

to

nnes

)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

Volu

me

('000

to

nnes

)*

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

No.

of

cont

ract

sVa

lue

(` c

rore

)

2018

-19

257

9,662

18,28

,722

1,01,2

331,1

1,475

7,88,3

5,865

25,25

,601

169

2,88,3

7,833

15,13

,817

6,71,6

9813

,69,46

,607

24,50

,777

24,64

,49,02

765

,91,42

83,1

3,641

14,24

4

2019

-20$

432,0

564,0

8,795

22,06

113

,989

1,11,8

7,810

3,38,6

3931

52,32

,202

2,86,2

311,5

1,183

3,00,2

7,487

5,06,9

754,6

8,56,2

9411

,53,90

73,6

6,531

14,97

4

Apr-1

920

991

1,96,6

32 1

0,806

7,0

3055

,65,14

21,7

2,973

1525

,16,28

51,2

9,663

62,10

21,2

4,17,7

882,1

3,672

2,06,9

5,847

5,27,1

133,1

8,726

13,84

0

May

-19

231,

065

2,12

,163

11,

256

6,95

956

,22,

668

1,65

,667

1627

,15,

917

1,56

,568

89,0

801,

76,0

9,69

92,

93,3

032,

61,6

0,44

76,

26,7

943,

66,5

3114

,974

OPT

ION

S

Year

/

Mon

th

No.

of

Trad

ing

days

Met

als

Bulli

onEn

ergy

Tota

lO

pen

inte

rest

at t

he

end

of th

e pe

riod

Call

Opt

ions

Pu

t Opt

ions

Ca

ll O

ptio

ns

Put O

ptio

ns

Call

Opt

ions

Pu

t Opt

ions

N

o. o

f co

ntra

cts

Turn

over

(`

cro

re)

No.

of

cont

ract

s

Not

iona

l Va

lue

(` c

rore

)N

o. o

f co

ntra

cts

Turn

over

(`

cro

re)

No.

of

cont

ract

sTu

rnov

er

(` c

rore

)N

o. o

f co

ntra

cts

Turn

over

(`

cro

re)

No.

of

cont

ract

sTu

rnov

er

(` c

rore

)N

o. o

f co

ntra

cts

Turn

over

(`

cro

re)

No.

of

cont

ract

sTu

rnov

er

(` c

rore

)

2018

-19

257

69,15

23,7

0154

,509

2,792

2,65,4

8775

,210

2,07,1

4860

,490

4,80,1

9320

,897

4,18,7

5817

,855

14,95

,517

1,80,9

449,4

7180

2

2019

-20$

438,9

4759

57,6

8956

330

,652

7,573

20,25

65,4

771,2

9,612

5,797

1,28,6

805,5

423,2

5,836

25,54

713

,122

978

Apr-1

920

4,633

325

5,480

418

11,54

52,2

836,5

471,5

1142

,154

1,919

51,13

62,2

291,2

1,495

8,685

6,962

908

May

-19

234,

314

270

2,20

914

519

,107

5,28

913

,709

3,96

687

,458

3,87

777

,544

3,31

32,

04,3

4116

,862

13,1

2297

8

$ in

dica

tes

as o

n M

ay 3

1, 2

019

Not

e : N

atur

al G

as v

olum

e is

in T

rillio

n B

TU

and

is n

ot in

clud

ed in

vol

ume

(‘000

tonn

es) o

f en

ergy

con

trac

ts.

So

urce

: MC

X

Tabl

e 68

: Tre

nds

in c

omm

odity

der

ivat

ives

at N

CD

EX

Year

/

Mon

th

No.

of

Trad

ing

days

FUT

UR

ES

OPT

ION

S

Volu

me

('000

tonn

es)

No.

of

cont

ract

s tr

aded

Tur

nove

r (`

cro

re)

Ope

n in

tere

st a

t the

en

d of

the

perio

dC

all o

ptio

ns

Put o

ptio

ns

Ope

n in

tere

st

at t

he e

nd o

f th

e pe

riod

No.

of

Con

trac

tsVa

lue

(` c

rore

)N

o. o

f co

ntra

cts

Tur

nove

r (`

cro

re)

No.

of

cont

ract

sT

urno

ver

(` c

rore

)N

o. o

f co

ntra

cts

Not

iona

l Va

lue

(` c

rore

)20

18-1

9 2

48

1,2

0,12

5 1

,40,

05,4

85

5,3

1,41

4 1,

28,3

395,

328

3,64

616

032

814

60.

320

19-2

0$ 4

1 1

9,87

4 2

5,53

,391

9

6,17

9 1,

38,8

846,

387

512

00

00.

0A

pr-1

9 1

9 9

,826

1

2,94

,409

4

7,77

6 1,

35,4

635,

988

171

00

60.

3M

ay-1

9 2

2 1

0,04

8 1

2,58

,982

4

8,40

3 1,

38,8

846,

387

342

00

00.

0$

indi

cate

s as

on

May

31,

201

9

So

urce

: NC

DE

X


532

Tabl

e 69

: Tre

nds

in c

omm

odity

der

ivat

ives

at I

CE

X

Year

/

Mon

th

No.

of

Trad

ing

days

Agr

icul

ture

Fut

ures

Met

als

Futu

res

Gem

s an

d St

ones

Fut

ures

Tota

l O

pen

inte

rest

at t

he

end

of th

e pe

riod

Volu

me

('000

to

nnes

)

No.

of

cont

ract

s tr

aded

Tur

nove

r (`

cro

re)

Volu

me

('000

to

nnes

)

No.

of

cont

ract

s tr

aded

Tur

nove

r (`

cro

re)

Volu

me

(in c

ents

)

No.

of

cont

ract

s tr

aded

Tur

nove

r (`

cro

re)

No.

of

cont

ract

s tr

aded

Tur

nove

r (`

cro

re)

No.

of

cont

ract

s Va

lue

(` c

rore

)

2018

-19

257

3,19

66,

83,8

9314

,772

1,15

61,

15,5

854,

063

5,53

,12,

169

5,53

,12,

169

18,9

025,

61,1

1,64

737

,736

1,29

,291

77

2019

-20$

4312

047

,800

666

349

34,8

661,

182

2,14

,76,

099

2,14

,76,

099

7,40

92,

15,5

8,76

59,

257

85,2

4765

Apr

-19

2040

18,8

2224

015

815

,754

536

1,06

,61,

364

1,06

,61,

364

3,67

71,

06,9

5,94

0 4

,454

1,

72,8

2080

May

-19

2381

28,9

7842

619

119

,112

646

1,08

,14,

735

1,08

,14,

735

3,73

21,

08,6

2,82

5 4

,803

85

,247

65$

indi

cate

s as

on

May

31,

201

9

N

otes

:

Con

trac

t siz

e fo

r all

diam

ond

futu

res

cont

ract

at I

CE

X is

one

cen

t. So

urce

: IC

EX

Tabl

e 70

: Tre

nds

in c

omm

odity

der

ivat

ives

at B

SE

Year

/

Mon

thN

o.of

Tr

adin

g da

ys

Met

al F

utur

esBu

llion

Fut

ures

Ener

gy F

utur

esAg

ricul

ture

Tota

lO

pen

inte

rest

at t

he

end

of th

e pe

riod

Volu

me

(to

nnes

)N

o. o

f co

ntra

cts

trade

d

Turn

over

(`

cro

re)

Volu

me

( ton

nes)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

Volu

me

( to

nnes

)N

o. o

f co

ntra

cts

trade

d

Turn

over

(`

cro

re)

Volu

me

( to

nnes

)N

o. o

f co

ntra

cts

trade

d

Turn

over

(`

cro

re)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

No.

of

cont

ract

sVa

lue

(` c

rore

)

2018

-19

128

2121

177

21,0

3,678

28,08

01,0

5077

47,9

3,415

1,01,4

294,7

192,0

5,205

32,80

41,0

5273

2019

-20$

4360

060

027

229

21,04

34,3

490

00

15,55

,253

1,27,7

256,2

551,4

9,368

10,63

11,0

0293

Apr-1

920

77

011

010

,431

2,218

00

04,1

6,618

55,86

22,7

7266

,300

4,990

1,175

106

May

-19

2359

359

327

119

10,61

22,1

310

00

11,38

,635

71,86

33,4

8383

,068

5,641

1,002

93

$ in

dica

tes

as o

n M

ay 3

1, 2

019

C

onve

rsio

n fa

ctor

s: O

MA

N C

rude

Oil

(1 T

onne

= 7

.33B

arre

ls)


533

Tabl

e 71

: Tre

nds

in c

omm

odity

der

ivat

ives

at N

SE

Year

/

Mon

th

No.

of

Trad

ing

days

Bulli

on F

utur

esEn

ergy

Tota

lO

pen

inte

rest

at t

he e

nd

of th

e pe

riod

Volu

me

( t

onne

s)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

Volu

me

('000

to

nnes

)*

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

No.

of

cont

ract

s tra

ded

Turn

over

(`

cro

re)

No.

of

cont

ract

sVa

lue

( `cr

ore)

2018

-19

120

149

36,31

53,3

7510

,584

10,58

469

46,89

93,4

4415

97

2019

-20$

438

23,69

581

82

17,41

611

441

,111

932

451

Apr-1

920

612

,468

431

18,4

4359

20,91

149

091

4

May

-19

232

11,2

2738

71

8,97

355

20,2

0044

245

1$

indi

cate

s as

on

May

31,

201

9

Volu

me

for B

R C

rude

and

BR

Cru

de M

ini i

s pr

ovid

ed in

bar

rels

(abs

olut

e fig

ure)

.

So

urce

: NSE

Tabl

e 72

: Par

ticip

ant-

wis

e pe

rcen

tage

sha

re o

f tu

rnov

er a

t MC

X, N

CD

EX

, IC

EX

, BSE

and

NSE

Year

/ M

onth

MC

XN

CD

EX

ICE

XB

SEN

SE

Agr

icul

ture

N

on-

Agr

icul

ture

Se

gmen

tA

gric

ultu

reA

gric

ultu

reN

on-

Agr

icul

ture

Non

-A

gric

ultu

reA

gric

ultu

reN

on-

Agr

icul

ture

Pro-

pri-

etar

yC

lient

Pr

o-pr

i-et

ary

Clie

nt

Prop

ri-et

ary

Clie

nt

Hed

g-er

s

Pro-

pri-

etar

yC

lient

Pr

o-pr

i-et

ary

Clie

nt

Pro-

pri-

etar

yC

lient

Pr

o-pr

i-et

ary

Clie

nt

Prop

ri-et

ary

Clie

nt

2018

-19

3862

2872

4455

0.4

793

4555

937

NA

NA

8416

2019

-20$

3961

3169

4851

0.9

5545

7030

392

4217

5248

Apr

-19

4060

3070

4752

0.7

5644

6536

482

3713

5050

May

-19

3961

3268

4851

1.1

5347

6931

362

4319

5347

$ in

dica

tes

as o

n M

ay 3

1, 2

019

Con

serq

uent

to m

erge

r of

NM

CE

with

IC

EX

w.e

.f. S

epte

mbe

r 24,

201

8, d

ata

pert

aiin

g to

NM

CE

are

mer

ged

with

IC

EX

So

urce

: MC

X, N

CD

EX

, IC

EX

, BSE

and

NSE


534

Tabl

e 73

: Com

mod

ity-w

ise

mon

thly

turn

over

and

trad

ing

volu

me

at M

CX

Sr

.No

Nam

e of

the

Com

mod

ity20

19-2

0$M

ay-1

8A

pr-1

9M

ay-1

9Vo

lum

e('0

00 to

nnes

)Va

lue

(` c

rore

)Vo

lum

e('0

00 to

nnes

)Va

lue

(` c

rore

)Vo

lum

e('0

00 to

nnes

)Va

lue

(` c

rore

)Vo

lum

e('0

00 to

nnes

)Va

lue

(` c

rore

)Fu

ture

sA

Bul

lion

1 G

old

0.5

1

,72,

881

0.2

7

3,91

2 0

.2

73,

849

0.3

9

9,03

2

2

Silv

er

30

1,1

3,35

0 1

2 4

8,67

4 1

5 5

5,81

4 1

6 5

7,53

6 T

otal

for A

3

1 2

,86,

231

12

1,2

2,58

6 1

5 1

,29,

663

16

1,5

6,56

8 B

M

etal

s ot

her t

han

Bul

lion

1 A

lum

iniu

m

1,5

30

21,

320

2,1

11

32,

932

692

9

,684

8

38

11,

636

2 B

rass

N

a N

a 1

1

9 N

a N

a N

a N

a

3

Cop

per

2,1

21

92,

404

1,1

41

52,

685

955

4

2,86

0 1

,166

4

9,54

4

4

Lea

d 3

,614

4

7,94

3 2

,360

3

8,02

1 1

,746

2

3,75

6 1

,868

2

4,18

7

5

Nic

kel

511

4

4,47

9 2

82

27,

553

256

2

2,92

3 2

55

21,

557

6 Z

inc

6,2

13

1,3

2,49

3 3

,056

6

3,45

9 3

,381

7

3,75

0 2

,832

5

8,74

3 T

otal

for

B

13,

989

3,3

8,63

9 8

,950

2

,14,

668

7,0

30

1,7

2,97

3 6

,959

1

,65,

667

C

Agr

icul

tura

l com

mod

ities

1

Car

dam

om

0.2

4

1 0

.2

14

0.1

1

5 0

.1

27

2 C

otto

n 1

,244

1

6,05

2 3

24

4,0

61

594

7

,785

6

49

8,2

67

3 C

PO

800

4

,248

5

24

3,4

34

391

2

,119

4

09

2,1

29

4 M

enth

a O

il 1

2 1

,720

9

1

,112

6

8

87

6

833

T

otal

for C

2

,056

2

2,06

1 8

56

8,6

21

991

1

0,80

6 1

,065

1

1,25

6 D

E

nerg

y

1

Cru

de O

il 1

,51,

183

4,7

9,54

2 4

6,25

1 1

,59,

791

62,

102

2,0

2,05

9 8

9,08

0 2

,77,

483

2 N

atur

al G

as (t

rln. B

tu)

1,5

09

27,

433

895

1

7,21

8 6

39

11,

613

870

1

5,82

0 T

otal

for D

* 1

,51,

183

5,0

6,97

5 4

6,25

1 1

,77,

010

62,

102

2,1

3,67

2 8

9,08

0 2

,93,

303

Gra

nd T

otal

(A+

B+

C+

D)

1,6

7,25

9 1

1,53

,907

5

6,07

0 5

,22,

884

70,

139

5,2

7,11

3 9

7,12

0 6

,26,

794

Opt

ions

EB

ullio

n

1.0

G

old

0.0

1

1,22

6 0

.0

14,

859

0.0

2

,660

0

.0

8,5

66

2

.0

Silv

er

0.5

1

,823

0

.0

191

0

.3

1,1

34

0.2

6

90

Tot

al o

f E

0

.5

13,

050

0.1

1

5,05

1 0

.3

3,7

94

0.2

9

,256

F

M

etal

s

1

.0

Cop

per

10

467

.6

630

1 6

2

65

5

202

2.0

Z

inc

31

691

.1

00.

0 2

1 4

78

10

213

T

otal

of

F 4

1 1

,159

6

301

27

743

1

4 4

16

G

Ene

rgy

1

.0

Cru

de O

il 3

,524

1

1,33

9 4

27

1,5

19

1,2

73

4,1

48

2,2

51

7,1

90

Gra

nd T

otal

(E+

F+G

) 3

,566

2

5,54

7 4

33

16,

870

1,3

00

8,6

85

2,2

66

16,

862

$ in

dica

tes

as o

n M

ay 3

1, 2

019

Not

e : N

atur

al G

as v

olum

e is

in tr

illio

n B

TU

and

is n

ot in

clud

ed in

tota

l vol

ume.

Tur

nove

r of

optio

ns c

ontr

act i

s no

tiona

l val

ue.

C

onve

rsio

n fa

ctor

s: C

otto

n (1

Bal

e=17

0 kg

), C

rude

Oil

(1 T

onne

= 7

.33B

arre

ls)

So

urce

: M

CX


535

Table 74: Commodity-wise monthly turnover and trading volume at NCDEX

Sr. No

Name of Agri. Commodity

2019-20$ May-18 Apr-19 May-19

Volume ('000

tonnes)

Value(` crore)

Volume ('000

tonnes)

Value(`crore)

Volume ('000

tonnes)

Value (`crore)

Volume ('000

tonnes)

Value(` crore)

Futures

1 Barley 62 113 70 102 37 66 25 47

2 Castorseed 3,734 21,638 747 3,003 2,097 12,160 1,638 9,478

3 Chana 2,843 12,837 1,106 3,978 1,176 5,260 1,667 7,577

4 Cotton seed oil cake 3,015 7,683 1,841 2,391 1,500 3,627 1,515 4,056

5 Coriander 587 4,279 256 1,206 307 2,216 280 2,063

6 Guar seed 3,189 14,115 2,038 7,754 1,610 7,140 1,579 6,974

7 Guargum 841 7,494 498 4,115 426 3,815 415 3,678

8 Jeera 164 2,790 76 1,213 82 1,360 82 1,431

9 Kapas 229 1,370 Na Na 173 1,044 56 326

10 Maize 25 47 26 32 8 16 16 31

11 Rmseed 1,636 6,299 1,214 4,765 663 2,518 973 3,782

12 Sugar Na Na 0.1 0.3 Na Na Na Na

13 Soya bean 2,204 8,262 1,404 5,214 1,140 4,306 1,064 3,956

14 Soya oil 911 6,682 816 6,278 449 3,279 462 3,403

15 Turmeric 358 2,421 220 1,623 144 943 214 1,478

16 Wheat 76 149 36 65 14 27 62 123

Total 19,874 96,179 10,347 41,738 9,826 47,776 10,048 48,403

Options

1 Chana 10.0 0.5 Na Na 8.0 0.4 2.0 0.1

2 Guargum 0.0 0.0 Na Na 0.0 0.0 0.0 0.0

3 Guarseed 41.0 1.9 3.4 13.3 9.0 0.4 32.0 1.4

4 Soybean 0.0 0.0 Na Na 0.0 0.0 0.0 0.0

5 Ref. Soy Oil 0.0 0.0 Na Na 0.0 0.0 0.0 0.0

Total 51.0 2.3 3.4 13.3 17.0 0.8 34.0 1.5

$ indicates as on May 31, 2019 Turnover of options contract is notional value. Source: NCDEX


536

Table 75: Commodity-wise monthly turnover and trading volume at ICEX, BSE and NSE Sr.No

Name of the Commodity

2019-20$ May-18 Apr-19 May-19Volume

('000 tonnes)

Value(` crore)

Volume('000

tonnes)

Value(` crore)

Volume('000

tonnes)

Value(` crore)

Volume('000

tonnes)

Value(` crore)

A. ICEX

1 Castorseed 0 0 95 383 0 0 0 0

2 Guarseed 0 0 96 366 0 0 0 0

3 Isabgulseed 82 87 73 612 23 24 59 63

4 Pepper Mini 0.2 68 0.02 1 0 0 0.2 68

5 Rape/Mustardseed 0 0 245 870 0 0 0 0

6 Raw Jute 0 0 163 723 0 0 0 0

7 Rubber 38 510 13 168 17 216 21 294

8 Diamond 1 CT 2,10,109 7,335 9,200 311 1,04,816 3,649 1,05,293 3,686

9 Diamond .5 CT 4,651 74 3,326 52 1,798 29 2,853 46

10 Diamond .3 CT 1 0 2 0.0 0.0 0.000 1.05 0

11 Steel 349 1,182 0 0 158 536 191 646

Total (ICEX) 2,15,230 9,257 13,213 3,485 1,06,811 4,454 1,08,419 4,803

B. BSE

1 Gold 0 3,443 Na Na 0 1,785 0 1,658

2 Silver 0 813 Na Na 0.1 390 0 422

3 OMAN CRUDE * 0 0 Na Na 0 0 0 0

4 Copper 1 27 Na Na 0.01 0.328215 1 26.9

5 Gold M 0 93 Na Na 0.0 43 0 50

6 Guar Gum 0 2 Na Na 0.0 0 0 2

7 Guar Seed 750 3,334 Na Na 312 1,388 438 1,946

8 Cotton 224 2,919 Na Na 105 1383 119 1,535

Total (BSE) 975 10,631 Na Na 417 4,990 558 5,641

C. NSE

1 Gold 0 55 Na Na 0 24 0 31

2 Gold Mini 2 743 Na Na 1 389 1 354

3 Silver 5 20 Na Na 5 18 0 2

4 BR Crude 0 31 Na Na 0 19 0 12

5 BR Crude Mini 2 83 Na Na 1 40 1 43

Total (NSE) 10 932 Na Na 7 490 3 442 $ indicates as on May 31, 2019 Note : i) Volume for Diamond 1 CT, 0.5CT & 0.3CT has been given in Carat only (e.g. if volume is 80312.2 i.e. 80312.2 carats) and 1 Carat is equivalent to 100

cents.ii) Conversion factors: OMAN Crude Oil (1 Tonne = 7.33Barrels). Source : ICEX, BSE and NSE


537

Table 76: Macro Economic Indicators

I. GDP at constant prices (2011-12 prices) for 2018-19 (` crore)# 1,90,10,164II. Gross Saving as a percent of Gross national Disposable Income at current market prices in 2017-18! 30.1III. Gross Capital Formation as a per cent of GDP at current market prices in 2017-18! 32.3IV. Monetary and Banking Indicators Jan-19 Feb-19 Mar-19 Apr-19 May-19

Cash Reserve Ratio (percent) 4.0 4.0 4.0 4.0 4.0Repo Rate (percent) 6.50 6.25 6.25 6.00 6.00Money Supply (M3) (₹ crore) 1,47,592 1,49,401 1,50,859 1,54,301 1,54,309Aggregate Deposit (₹ crore) 1,19,865 1,21,212 1,22,262 1,25,310 1,24,986Bank Credit (₹ crore) 93,317 94,035 95,537 96,451 96,226

V. Interest Rate Call Money Rate (Weighted Average) 6.43 6.29 6.35 6.16 5.9091-Day-Treasury Bill (Primary Yield) 6.60 6.40 6.31 6.40 6.19Base rate (percent) 8.95/9.45 8.95/9.45 8.95/9.40 8.95/9.40 8.95/9.40Term Deposit Rate > 1 year (Maximum) 6.25/7.50 6.25/7.50 6.25/7.50 6.25/7.50 6.25/7.50

VI. Capital Market Indicators (` crore)Equity Cash Turnover (BSE+NSE) 7,27,221 6,89,926 7,78,201 6,95,983 8,46,355Market Cap-BSE 1,40,99,330 1,40,41,530 1,51,08,711 1,52,54,028 1,52,54,028Market Cap-NSE 1,39,16,643 1,38,71,449 1,49,34,227 1,50,43,275 1,54,38,015Net FPI Investment in Equity -7,827 17,220 33,981 21,193 7,920

VII. Exchange Rate and ReservesForex Reserves (USD million) 3,98,178 3,99,217 4,11,905 4,18,515 4,21,868Re/ Dollar 71.11 71.22 69.17 70.14 69.81Re/Euro 80.50 80.75 77.7 78.1 77.7Forward Premia of USD 6-month 4.11 4.16 4.16 4.28 3.93

VIII. Public Borrowing and InflationGovt. Market Borrowing-Gross (₹ Billion) 2018-19^

4,510 4,990 5,710 510 1,360

Wholesale Price Index (2011-12=100) 119.2 119.5 119.9 120.9 121.2Consumer Price Index (2012 =100) 139.6 139.9 140.4 141.2 142.0

IX. Index of Industrial Production (y-o-y) percent (Base year 2011-12 = 100)General 134.4 127.5 140.8 126.8 NAMining 119.1 112.5 132.7 107.8 NAManufacturing 135.5 129.2 140.3 126.6 NAElectricity 150.9 137.9 160.1 162.9 NA

X. External Sector Indicators (USD million)Exports 26,360 26,668 32,548 26,073 29,994Imports 41,086 36,263 43,440 41,401 45,354Trade Balance -14,726 -9,595 -10,892 -15,327 -15,360

# Provisional Extimates as per MOSPI press release dated 31.05.2019 ! First revised estimates of national income, consumption expenditure, saving and capital formation for 2017-18 dated, 31.01.2019 ^ cumulative figure value of the respective month for 2018-19 Aggregate Deposit, Bank Credit, Money Supply (M3) and Forex Reserve are updated as per available information on WSS dated 03 May 20 Data for CPI, WPI, IIP and External sector have been complied based on available information. Source : RBI, FBIL, MOSPI, Ministry of Commerce & Industry, Office of the Economic Adviser.


538

PUBLICATIONS

1. Annual Report : 2017-182. Handbook of Statistics : 2017

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