BSE derivatives volume touches Rs750 crore

The Index futures registered Rs625.43 crore turnover with 23,940 contracts. Among others Index Option (call) registered a turnover of Rs68.44 crore, Index Option (Put) Rs12.73 crore and equity future Rs 53.03 crore, BSE said, adding 128 broker-members participated in the trading

Mumbai: The country’s premier bourse Bombay Stock Exchange’s (BSE) derivatives trading volume crossed Rs750-crore mark on Thursday, reports PTI.

The volume of derivatives trading touched Rs759.64 crore with trading in 30 underlying shares, the exchange said in a statement.

The Index futures registered Rs625.43 crore turnover with 23,940 contracts. Among others Index Option (call) registered a turnover of Rs68.44 crore, Index Option (Put) Rs12.73 crore and equity future Rs 53.03 crore, BSE said, adding 128 broker-members participated in the trading.

The exchange launched market-making scheme, known as the liquidity enhancement incentive programmes or LEIPs in September with the expectation that it would improve liquidity and benefit the retail stock market investors.

The scheme aims to generate more investor interest in derivatives, based on its benchmark Sensex and the underlying 30 stocks. The BSE has earmarked a total of Rs107 crore for the scheme that will be in force for seven months in two phases.

User

Petrol prices hiked by Rs1.80 per litre

This is the second hike in petrol prices in less than two months and it came on a day when the food inflation rose ‘dangerously’ to 12.21% for the week ended 22nd October

New Delhi: State-owned oil companies on Thursday effected yet another steep hike in petrol price, by Rs1.80 per litre with effect from Friday, the 5th increase this year, coming on top of falling rupee and rising cost of imported crude, reports PTI.

Petrol price in Delhi will cost Rs68.64 per litre, up from Rs66.64 a litre. The retail selling price in different cities will vary according to the local sales tax.

“Crude oil has been more or less steady but rupee depreciation is a cause of concern. We have been forced to increase prices because of rupee depreciation,” Bharat Petroleum Corporation (BPCL) chairman and managing director RK Singh told PTI. The base price has been increased by Rs1.50 per litre.

“The rupee has depreciated from Rs46.25 a dollar to Rs49.40, increasing our cost of imports,” Indian Oil Corporation (IOC) director (finance) PK Goyal said.

Sources said oil minister Jaipal Reddy consulted finance minister Pranab Mukherjee before oil companies were given a green signal to raise prices.

The heads of three oil companies —IOC, BPCL and Hindustan Petroleum Corporation (HPCL)—met here Thursday evening to decide on the price hike after they got a firm green signal from the oil ministry, they added.

This is the second hike in petrol prices in less than two months and it came on a day when the food inflation rose ‘dangerously’ to 12.21% for the week ended 22nd October.

Oil marketing companies had earlier hiked petrol prices by Rs3.14 a litre on 16th September when the rupee was ruling at about 48 to a dollar.

The government had in June last year deregulated or freed petrol from all price controls but the retail rates have not moved in line with cost as high inflation rate forced the oil companies to seek ‘advice’ from parent oil ministry before revising rates.

This is the sixth price increase since petrol price was deregulated, after excluding minor changes resulting from duty changes and increase in dealers’ commission.

On Wednesday Mr Reddy had met Mr Mukherjee to appraise him of the precarious financial health of oil companies. Earlier in the day today, the oil ministry sent a detailed note to the Cabinet secretariat seeking urgent action on deteriorating financial health of oil PSUs.

The oil ministry in its note pointed that Indian Oil, Bharat Petroleum and Hindustan Petroleum together will lose about Rs1,30,000 crore in revenue this fiscal on selling diesel, domestic LPG and kerosene at government-controlled rates.

Sources said the three companies are losing Rs333 crore per day on selling fuel below cost.

State-owned oil firms are currently losing Rs9.27 per litre on diesel, Rs 26.94 per litre on kerosene sold through the public distribution system (PDS) and Rs260.50 per 14.2-kg LPG cylinder supplied to households for cooking purposes.

While the loss on these three products are compensated through a combination of government cash subsidy and upstream oil firm dole-outs, no such mechanism exists for making good the losses on petrol as the product is deregulated.

The three firms are virtually living on borrowed money as they had to raise funds to meet even working capital requirement in the absence of fuel selling price not meeting even operating expenses.

The oil ministry had also requested for an early meeting of the high-powered ministerial panel to decide on ways to deal with the crisis.

The Empowered Group of Ministers (EGoM) meeting is being sought before the winter session of Parliament that begins on 22nd November.

The ministerial panel is essentially a consensus building body of the Congress-led UPA government and comprises of key allies like DMK, TMC and NC. The allies had in September scuttled plans to limit supply of subsidised LPG cylinders to 4-6 per household a year with a view to reduce subsidies.

User

COMMENTS

ABHISHEK

5 years ago

We are like, Hanuman ji. When some body remind our power then we started to do something, after some time we again forget our power. For Example:- When Anna Reminded our power then we woke up and now again we need to got reminder by anyone else like Anna.

JM Manilal

5 years ago

Kind Attn: Supreme Court Judges, Govt. of India, Mr. Ranga Rajan...

Please hear that this my letter linked with my commend to Court on 16th Sep 2011


In which atmosphere Govt give freedom to increase the Petrol rate by Petroleum companies?
A deep and confidential private investigation required in this subject and also required a special investigation against Mr. Ranga Rajan.
Strongly believe, these all people are moving by the influence of Petroleum agencies?

One side govt announces to reduce the consumption of Petrol / Diesel usage. The other side the usage of Luxurious vehicle is increasing.

Why not categorize the type of vehicle and increase the Petrol / Diesel prize, those people, who use Luxurious vehicles?

There is no any justification to increase the Petrol / Diesel prize of common vehicle such as taxis, two wheelers and public buses.


Please hear that, this is not only my point.
My point is also that Court doesn’t have the eye to look these matters. But they are very crazy about and support the planning of steal the Lord Sri Padmanabha’s properties.

Advices and suggestions welcome.

Regards,
Manilal

ABHISHEK

5 years ago

Really this movement is about to die for a aam aadmi,
P.M. said INR rate is got down so we increase Petrol Rate , some body asked to PM. What about Million & Billion Lacs Crore 2G Spectrum case, Indian Rupees Deposited in World bank....................Its really same on all of us..................... we know everything but we can't do anything..........shhhhhhhhhhhhhh

NIFTY ETF: No Game Changer, This

Even the absurdly low cost of IIFL’s Nifty ETF doesn’t make it a big winner vis-à-vis...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)