Evening trades improve co-relation with global markets: NCDEX

MUMBAI: National Commodity & Derivatives Exchange Ltd (NCDEX) announced here Thursday that agri-commodity markets benefit from extension of futures trading in the evening.
The bourse said that this extension allows businesses and value chain participants to better manage price risks due to fluctuations in the international market, an NCDEX statement said.
“Evening trading adds to efficient price discovery and allows business entities to better manage their risks. Initial seven days of trading recorded almost 25 to 30 per cent increase in daily volumes due to trading in agri commodities like soy oil, sugar and cotton,” NCDEX MD & CEO Samir Shah said in the statement.
In the first week of evening trading, soy oil, reflected higher co-relation in prices at NCDEX-CBOT after 5 pm. The co-relation reached 95 per cent on some evenings, the statement said. More than 1000 companies and individual traders through about 300 broking houses participated in agri-commodities trading during the evening session, the statement said.