Market turnover hits Rs 10L cr

Written by fe Bureau | Mumbai | Updated: Oct 31 2014, 05:54am hrs
The combined market turnover, including F&O and cash markets on BSE and NSE, touched a record R10.52 lakh crore on Thursday. The Sensex and Nifty touched lifetime highs of 27,390.60 points and 8,181.55 points, respectively. Even though the US Fed ended the QE programme on Wednesday, the governments decision to relax the FDI policy in the construction sector lifted the markets.

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In September, the market turnover including F&O and cash at BSE and NSE touched lifetime high of R8.52 lakh crore. The daily average market turnover in last five months had been in excess of R3 lakh crore. Experts say the surge in markets in last half-an-hour suggests short-covering by traders. On the last day of expiry, generally, the quantum of longs and shorts that has not rolled over in the F&O segment, determine the quantum of fall or rise on the index for the day. However, the market surge came as a positive surprise. The way markets shot up in the last hour suggests, traders were caught off the guard on the short side, said Manish Sonthalia, head (equity PMS), Motilal Oswal AMC.