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SEBIBULLETIN
February 2019 VOL. 17 NuMber 02
^maVr¶ à{V^y{V Am¡a {d{Z‘¶ ~moS>©Securities and exchange board of India
OCTOBER 2019 VOL. 17 NUMBER 10
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
USD 5 TRILLION ECONOMY – ROLE OF CAPITAL MARKETS, SHRI AJAY TYAGI, CHAIRMAN, SEBI
CORPORATE BOND MARKET, SHRI AJAY TYAGI, CHAIRMAN, SEBI
CAPITAL MARKET REVIEW
REVIEW OF GLOBAL FINANCIAL MARKETS
HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET
POLICY DEVELOPMENTS
REGULATORY ACTIONS TAKEN BY SEBI
TABLES
PUBLICATIONS
785
789
793
808
824
829
836
831
875
OCTOBER 2019 SEBI BULLETIN 2019
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1. Ladies and Gentlemen, it gives me great pleasure to address this august gathering and share my views on the role of capital markets in achieving the larger goal that our country is striving for – a USD 5 trillion economy by the year 2025. I would like to thank FICCI for inviting me to this Conference.
2. In my address today, I would like to brieflyrecapitulate the role capital markets have been playing in the recent years in economic development as also the expected role towards contributing to the USD 5 trillion target.
A. Importance of capital markets in economic growth
3. As per the Economic Survey 2018-19, for a USD 5 Trillion economy by 2024-25, a sustained economic growth rate of real GDP of 8 per cent is needed. This kind of sustained economic growth requires a virtuous cycle of savings and investment. A robust financial sector which can continuouslysupplycapitalresourcesandefficientlyallocatethesame to seekers of funds is crucial for creating the savings and investment cycle.
4. In this context, the theme of the Conference focusing on increasing robustness of the capital markets is aptly chosen and timed and I hope that the discussions during the Conference would throw up many new ideas.
B. State of the capital markets and way ahead
I. Fund raising:
5. For achieving the 5 T target, an increase in private investments is crucial. For invigorating such investments, the fund raising activity ought to pick up. This can be by way of equity viz. through IPOs, QIPs, etc. or by way of debt viz. loans, corporate bonds, etc. or by various hybrid instruments viz. convertibles, REITs, InvITs, etc. The role SEBI can play in this arena is by strengthening robustness of the frameworks, easing the process and by providing new avenues for fund raising. Let me further elaborate on this.
USD 5 TRILLION ECONOMY – ROLE OF CAPITAL MARKETSSHRI AJAY TYAGI, CHAIRMAN, SEBI1
Equity Primary Market
6. There has been a steady primary market activity in the equity space in the last 2-3 years. The equity capital raised by listed companies through various modes was around ` 2.4 lakh crore during 2017-18 and2018-19.During thefirstfivemonthsof thisfinancialyear,equityraisingisover` 1.4 lakh crore. While raising of equity capital through IPOs has been falling, the companies have raised equity capital through other routes such as rights issues or QIPs or preferential allotments.
7. SEBI has been taking measures for boosting investor confidence, ease of capital raising andfurtherrefiningtheprimarymarketframework.WerevampedandsimplifiedourbaseRegulationsforequity fund raising- i.e SEBI (Issue of Capital and Disclosure Requirements) Regulations in 2018. We have also recently reviewed and revised our Buyback Regulations.
8. Aimed at reducing the listing time for an IPO from T+6 days to T+3 days, SEBI has introduced the use of UPI with ASBA facility as a new payment mechanism. The implementation of this major initiative is happening in a phased manner so that operational issues are eased out over time.
9. SEBI has also taken measures for new avenues for fund raising. A separate segment called “Innovators Growth Platform”, with easier listing norms, has been set up at stock exchanges to help technology start-ups to raise capital. Considering the demand for Differential Voting Rights (DVRs) especially from companies in the tech space, a framework for DVRs has been recently notified albeit withsafeguards to ensure that the governance standards and the interest of the minority shareholders are protected.
10. Going forward, in the spirit of strengthening the robustness of our frameworks, we are working on several initiatives. Rights issues, in particular, have recently seen a pickup in activity. SEBI had put out a consultative paper to reduce the timelines for
1 FICCI Capital Market Conference, Mumbai on September 26, 2019
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rights issues. We will be soon taking a view on this subject.
11. The concept of ‘promoters’ has been prevalent in India for a long period of time. Globally, rather than promoters, the concept of ‘controlling shareholders’ is more prevalent. Keeping in mind changing realities of the global and Indian markets, we are examining the relevance of the concept of promoter in today’s times along with whether any changes to SEBI Regulations are warranted in this regard.
12. A framework can only be as robust as the enforcement of its provisions. SEBI has been enforcing many of its regulatory requirements through a Standard Operating Procedure implemented by the stock exchanges. We are in the process of strengthening this procedure further.
Corporate bond markets
13. As per one estimate, to achieve a USD 5 trillion GDP goal, credit supply needs to double to ` 188 trillion from approximately ` 98 trillion at present. From a corporate’s perspective, this would largely involve raising of debt through two options- either loans or corporate bonds.
14. As there has been a conscious effort to move from Bank Credit to other forms of credit, securities markets will have to further step up and provide the much needed debt capital for fuelling investment and generating the desired growth. In fact, to achieve the necessary credit mobilisation to reach the 5T target, the development of corporate bond market is a sine qua non.
15. Fund mobilisation through corporate bonds has increased from ` 3.18 lakh crore in 2013-14 to ` 6.5 lakh crore during 2018-19. In the current financialyear,̀ 2.56 lakh Crore has been mobilised till August.
16. The Government and regulators have been taking measures over the period for the development of bond market. Even in the recent budget and subsequently in an announcement by the Hon’ble Finance Minister, several initiatives to develop the bond market have been announced. An important
measure by SEBI has been a framework for listed large corporates to mandatorily meet 25 per cent of theirfinancingneedsthroughissuanceof debtsecurities. We are likely to see the outcome of this measurebyendof thisfinancialyear.
17. Going forward, the corporate bond market needs to expand to cover a larger set of issuers, a wider set of investors and instruments of a wider maturity range.
18. As of now, the corporate bond market is dominated by issuers with ratings of AA and above. The share in issuance of papers rated below AA is around 10 per cent. The creation of an institutional mechanism for providing credit enhancement / credit guarantee support, as announced by the Government, would provide comfort to investors for investing in lower rated bonds and would help such companies to raise funds from bond market. Regulatory relaxations to institutional investors to invest in bonds of such issuers would also be an important measure to improve demand for such securities. Another reason for an averseness towards lower rated bonds is the experience of poor recovery in case of default. An effective implementation of IBC would provide an additionallayerof confidenceandsecuritytobondinvestors.
19. On widening the investor base, an often desired goal is to increase retail participation in debt securities including Government securities. The announcement made by the Hon’ble Finance Minister in this year’s Budget, relating to inter-operability of RBI depositories and SEBI depositories, is expected to have a positive impact towards this end. We are also in the process of enabling an App based subscription mechanism and UPI based participation which may facilitate increased retail participation.
20. On wider maturity options, it is necessary to touch upon the issue of a continuous yield curve. Since a corporate bond is generally priced on the basis of price of G- Sec of comparable tenure, it is important to have a robust, continuous G-Sec Yield Curve which is currently lacking.
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New Products for mobilising funds
Municipal Bonds
21. To enable borrowing of funds by municipalities, SEBIhadnotifiedSEBI(IssueandListingof debtsecurities by Municipalities) Regulations, 2015. However, till date, only 7 municipalities have raised ` 1489.9 crore through issue of municipal debt securities.
22. We have recently rationalised the framework under these Regulations. The definition of issuer hasbeen expanded to include bodies such as urban development authorities, city planning agencies, etc. performing functions akin to those performed by municipalities. Various requirements such as monitoring agency, project implementation cell, Government backing, maintenance of 100 per cent asset cover, etc. have been relaxed to ease fund raising through the framework. With these measures, we expect an uptake in the issue of municipal bonds.
REITs and InvITs
23. Infrastructure and real estate are two sectors where the spill-over to the other sectors of the economy is one of the highest. Therefore, any boost to these two sectors automatically translates into a multiplier effect on the rest of the economy. The Budget 2019-20 has announced that the Government would invest ` 100 lakh crore on infrastructure inthenextfiveyearsi.e.` 20 lakh crore per year. Considering that the total infrastructure investment during the FY 2018 was about ` 9.5 lakh crore, the Government announcement amounts to doubling the infrastructure investment per year.
24. 24. During FY 2018, the contribution of Central Government, State Government and private sector funding of infrastructure projects was about 44 per cent, 33 per cent and 23 per cent respectively. Going forward, the share of private sector funding need to increase substantially.
25. While raising equity and debt by private sector for green field infrastructure projects in challenging,one way of enhancing the funding capacity is through giving an exit route from the completed project so that developers, investors and lenders can
redeploy the fund in new and under construction project.
26. REITs and InvITs are vehicles through which the funds deployed in completed projects could be provided exit which in turn could be recycled into new and under-construction projects. SEBI has taken several initiatives over the last few years to strengthen the regulatory framework for these two products. We are also analysing a framework for easing the process of preferential issue of units by REITs and InvITs.
II. Foreign investment
27. The increase in domestic investment to support a 5 T economy has to be necessarily supplemented by foreigncapitalinflows.
28. As on March 31, 2019 a total of 9,390 FPIs from 59 different countries were registered with SEBI. FPI Regulations have seen a sea change over the last coupleof years.Therecentlynotifiedregulationsinter-alia provide for relaxed requirements for registration and KYC documentation, which are expected to further facilitate FPI investments in India.
III. Secondary markets
29. A robust secondary market is essential for a thriving primary market. Turnover in the equity cash segment across all stock exchanges in India increased by about 5 per cent to ` 87.2 lakh crore in 2018-19 from ` 83.2 lakh crore in the previous year.
30. NSE ranked 2nd and BSE ranked 11th globally in terms of the number of trades in equity shares. In case of equity derivatives, NSE ranked 1st, 2nd and 8th in the world in terms of number of contracts in stock index options, single stock futures and single stock options respectively.
31. SEBI has taken several initiatives to rationalise and strengthen the secondary market operations, viz. inter-operability of clearing corporations, improving the risk management framework, physical settlement for single stock derivatives, review of eligibility and exit criteria of stock derivatives, measures to strengthen Algorithmic Trading and Co-location / Proximity Hosting
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framework, measures regarding cyber security, framework for innovation sandbox, etc.
Mutual Funds
32. That mutual funds enjoy trust of and have caught fancyof investorsisreflectiveinthefactthattheindustry AUM has increased from around ̀ 11 lakh crore four years ago to around ̀ 25 lakh crore now. Number of mutual fund folios have also doubled during the same period from around 4 crore to 8 crore.
33. However, there is much scope for further growth if we compare with global markets. While the global average for industry AUM to GDP ratio is around60percent, thecorrespondingfigure forIndia is only 11 per cent.
34. In the medium term, especially keeping 2025 as the target year, the outlook for Mutual Funds looks quite positive. We have been working with the industry to improve penetration to the B-30 areas, especially from the retail investors. AMFI has projected a four-fold growth in AUM over the next decade. There has to be an increased focus on penetration, targeting new set of investors, self-governance and investor education & awareness to achieve this.
Alternative Investment Funds
35. Anothervehiclewhichcancontributesignificantlyto channelizing funds of investors into the capital markets is Alternative Investment Funds, especially for sophisticated and institutional investors. AIF
investmentshaveseenasignificantjumpinthelastfew years. On a cumulative basis, the investments made by AIFs stood at ` 1.1 lakh crore in March 2019 vis-à-vis only around ` 7300 crore in March 2015.
36. SEBI is in the process of taking steps to further strengthen the framework for AIFs in areas such as standardisation of the private placement memorandum and benchmarking framework for performance disclosures.
D. Conclusion
37. To conclude, equities market in India is world class in terms of regulatory framework for primary as well as secondary markets, trading volumes, depth and liquidity. This market is fully geared for meeting the requirements of 5 trillion economy.
38. Measures have been taken for development of corporate bond market. While private placement issuances have seen a rise in the last few years, the secondary market in terms of trading and liquidity is yet to develop. Clearly, much more needs to be done.
39. Increasing the share of private sector investment in infrastructure projects, especially green fieldprojects, is challenging. REITs, InvITs, as vehicles fortakeoutfinancing,are likelytogainmoreandmore importance.
40. Mutual funds, Insurance funds, Pension funds and AIFs, supplemented by foreign investment, wouldprovide significantpoolsof funds for theprojected 5 trillion economy.
I convey my best wishes for the event. Thank you.
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1. Ladies and Gentlemen, it is my pleasure to be addressing and sharing with you today my perspective on the Indian corporate bond market. I would like to thank ASSOCHAM for inviting me to this Conference.
2. Let me start by quoting what James Carville, a prominent political advisor to Bill Clinton, once said about the relevance of bond market - “I used to think that if there was reincarnation, I wanted to come back as the President or the Pope. But now I would like to come back as the bond market. You can intimidate everybody.”
3. Policymakers in India are also getting cognizant of the growing importance and relevance of corporate bond market and taking measures in the last few years for its deepening; though, as compared to advanced economies, the bond market here is yet to grow to a consequential size.
4. In my address today, I will be sharing with you my thoughts on the significance of corporate bondmarket in the financial system; current state of affairs and the vision for the future development of bond market in India.
A. Significanceof CorporateBondMarket
5. Corporate bond market is a disclosure-driven one. Issuers have to make timely disclosures of all material information. Even a one-day default by an issuer gets disclosed. This market discipline that is imposed on the issuer is not available in case of bankfinancing.Corporatebondmarket, thus,provides timely information about the financialhealth and creditworthiness of an issuer. This in turn acts as a good ‘signaling indicator’ for all participants in the economy.
6. Signals emanating from real time repricing of new information on corporate bonds, helps, to a large extent, in identifying potential vulnerabilities in various segments of the economy. Mark to market requirement on bonds alert and caution investors on the emerging credit worthiness of a
borrower. This helps investors in taking timely risk management measures.
7. Apart from its role as an important means of financing corporate investments, the significanceof the corporate bond market lies in its transparency, responsiveness to credit events and thus,contributingtofinancialstability.
B. Corporate Bond market - Present State
8. Against this backdrop, let me now dwell upon the current state of the corporate bond market in India.
9. Funds raised from corporate bonds, which were around 3.7 trillion rupees during 2012-13, increased to 6.5 trillion rupees during 2018-19. Outstanding corporate bonds as a percentage of GDP moved up from 13 per cent in 2012-13 to 16.3 per cent in 2018-19.
10. This trend indicates that the corporate bond market in India has gained significant tractionover the years. It is important, however, to note that corporate bond issuances have remained flat, during the last three years, at an average of approximately 6.4 trillion rupees.
11. Anothermeansof financingcorporateinvestmenti.e. credit disbursed by banks, declined from more than 13 trillion rupees during 2012-13 to around 11 trillion rupees in 2018-19. This decline in bank credit, inter-alia, may have been as a result of measures such as asset quality review framework and related provisioning norms for banks which were ushered in towards the later part of 2015.
12. The plateauing of corporate bond issuances and declining bank credit disbursements by banks are inextricably linked to the decline in corporate private investments, resulting in sluggish growth seen in various sectors of the economy.
13. For the economy to move to the next level of growth trajectory, it is essential that all means
CORPORATE BOND MARKET SHRI AJAY TYAGI, CHAIRMAN, SEBI2
2 At ASSOCHAM India - National Conference, Mumbai on September 4, 2019
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of financing corporate investments, includingcorporatebondissuances,fireonallcylinders.
14. Taking into account the NPA problems of banks and inherent asset - liability mismatch problem restricting their capabilities to fund long term projects, it is but obvious that the corporate bond markethastoplayanincreasingsignificantroleinsupporting India’s growth story.
C. Challenges and likely Policy Prescriptions
15. To achieve this, inherent challenges in the corporate bond market need to be addressed. I will share with you some of these challenges and my policy prescription for them.
Fragmented Yield Curve
16. The fundamental challenge, in my judgment, is the absence of a continuous corporate bond yield curve spanning across different maturities and across different rating buckets. For instance, primary issuances and trading are majorly concentrated in 10 years and 3-5 years bucket. Longer end of the yield curve is predominantly dominated by debt papers of PSUs, FIs and select HFCs. Shorter end is dominated by NBFCs. As regards rating buckets, approximately 90 per cent of the papers are ‘AA and above’ rated.
17. While I will discuss the measures to address the twin problems of concentration of maturity and rating buckets, let me first emphasize the importanceof having a continuous government bond yield curve for the development of the corporate bond market.
18. As we all know, a corporate bond is generally priced on the basis of price of G-Sec of comparable tenure. In other words, price of G-Sec is the base on which the spread of a corporate bond gets determined.
Unificationof BondMarkets
19. Naturally, therefore, it is important for us to have a robust, continuous G-Sec Yield Curve. Unfortunately, however, we do not have the benefitof suchabenchmarkyieldcurve.Mostof the G-Sec issuances and concomitant liquidity are concentrated in only few maturity buckets.
20. There is a need for seamless transmission of information from G-sec to the corporate bond market. One of the ways to achieve this could be through unification of the G-Sec and thecorporate bond market, wherein trading, clearing and settlement takes place on one platform, backed up by an eco-system that provides for seamless transfer of G-Sec and corporate bond holdings.
21. In addition to unification of the bond market,another desired goal should be to encourage retail participation in G-sec. The announcement made by the Hon’ble Finance Minister in this year’s Budget, relating to inter-operability of RBI depositories and SEBI depositories, would facilitate this.
Enhancing Liquidity
22. Robust price discovery in corporate bonds remains a challenge, even internationally. Based on reported trading, USA seems to be a positive outlier, with daily trades as a percentage of corporate bond outstanding at 1.06 per cent. The comparable figures for India at 0.23 per cent as well as formany other Asian economies such as Japan at 0.05 per cent, China at 0.07 per cent and South Korea at 0.20 per cent remain poor. In fact, statistically, India seems to be doing better than these countries.
23. Corporate bonds are not as standardized as shares. A company may have bonds of several different maturities and characteristics. In other words, unlike equity instruments, corporate bonds are embedded with many nuances, both at the level of the issuer as also at the level of the instrument. This impedes liquidity.
24. Cross-country comparison also shows that the corporate bond market is predominantly an OTC market, driven by institutional investors. Therefore, unlike trading in shares where buy and sell orders are matched on electronic order books, corporate bonds are traded over the counter. Prices are negotiated off-line, bilaterally and reported / cleared on a DVP-1 basis.
25. Enhancing and coalescing the fragmented liquidity of corporate bonds is a felt need of the market participants. One way in which this could possibly be achieved is to create an electronic platform that
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enables sophisticated, multi-lateral negotiations to take place i.e. an enhanced ‘Request for Quote (RFQ)’ kind of arrangement. Negotiations that currently take place offline and bilaterally wouldhave to be done on an electronic platform, with straight through processing of clearing and settlement to complete the trade. This is expected to lead to more transparency, centralization and pooling of investor interest and hopefully, a more efficientandliquidmarket.
Credit Enhancement
26. As I have mentioned earlier, approximately 90 per cent of the papers are ‘AA and above’ rated. Lower rated papers, even if they are above investment grade,facedifficultybothintermsof issuanceandliquidity. This problem gets further compounded for infrastructure companies as most such companies are rated lower, especially in the initial phase of their life cycle.
27. Creating an institutional mechanism for providing appropriate credit enhancement and/or credit guarantee support would go a long way in enabling more companies, including infrastructure companies, to access the bond market as investors would take comfort from the credit support/ guarantee provided by such institutional mechanism.
28. The thinking of the Government is also on similar lines as is evident from the Budget Announcement of 2016-17 on providing credit enhancement to debt securities of infrastructure companies. More recently, Hon’ble Finance Minister has proposed to establish an organization to provide credit enhancement for infrastructure and housing projects. An early establishment and operationalization of such an organization would go a long way in raising of long tenor bonds by infrastructure companies.
Reducing Cost
29. I share the concerns of market participants with regard to the cost of bond issuances. Studies carried out by SEBI have revealed that the requirement of creation of a Debenture Redemption Reserve
(DRR) accounts for between 20 to 50 per cent of the cost of issuance. The recent Government announcement to remove DRR would, in all likelihood, substantially bring down the cost of issuance for issuers.
30. You may be aware that in India, as is also the case globally, most corporate bond issuances are privately placed. We have mandated that the entire process of corporate bond issuances has to be done through a transparent electronic book building platform (EBP), with the issuance process getting completed within T+2 days. As privately placed corporate bonds have to be listed, this improves disclosures about the issuer, reduces information asymmetry and enhances protection to the creditors.
31. Some of the other complementary measures, in this regard, that have been taken by us are:
a. Doing away with the requirement of 1per cent security deposit for public issue of debt securities.
b. Reduction in time taken for listing of public issue of bonds from 12 days to 6 days.
c. Compulsory ASBA based application for public issue of bonds.
32. We are also in the process of enabling UPI linked payment interface for bond subscription, including an App based subscription mechanism. I hope that the sum total of these measures further reduces the cost of corporate bonds issuances in India.
New Products
33. At present, the corporate bond market is dominated by plain vanilla bonds. Market development, however, demands an array of debt instruments to suit the varying needs of different class of market participants. In this context, the market has seen a number of new products such as Tri-partite Repo on exchange platform, bilateral Repo cleared through clearing corporations, interest rate derivatives, security receipts, units of REITs / InvITs, municipal bonds, etc. There is, however, a need for more coordinated and concerted effort to significantlyenhancetractionintheseproducts.
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34. The recent Budget Announcement regarding development of CDS market is one more in the series of policy measures to enhance the availability of products in the corporate bond market.
Pools of Risk Capital
35. Institutional investors are the pre-dominant investors in corporate bond market. Institutional investors such as pension funds, provident funds and insurance companies can generate far higher demand for longer dated corporate issuances. They are, however, guided by the investment norms prescribed by their respective sectoral regulators.
36. Relaxation of investment norms to these investors, allowing for a higher allocation by them to the corporate bond market would aid these savings to earn incremental returns and generate demand for corporate bonds. Additionally, as these institutions are long term investors and they generally hold their investments till maturity, they can act as ideal counterparties on the demand side to the infrastructure companies needing to rely on funding through longer dated instruments. The implementation of the Budget announcement of 2018-19 relating to permitting investment by regulated entities in ‘A’ grade bonds would help.
37. At the same time, it is important to note that these institutionalinvestorshavefiduciaryresponsibilityand consequently tendency for risk aversion. It is but natural for them to prefer investment in high rated papers.
38. To address the lack of traction in lower rated papers, there is a need to encourage alternate pools of risk capital to the corporate bond market. We are beginning to see some initial interest, in this regard, with the increase in activities of ARCs and AIFs in the recent times. This is an area where policy makers need to focus more and think of providing appropriate incentives to such pools of risk capital.
D. Conclusion
39. To conclude, corporate bond market is important as it acts as a good signaling indicator for all participants in the economy. Corporate bond market has to play an enhanced complementary role in supporting higher corporate investments to take India’s growth story to the next level. In this context, I have highlighted some of the important challenges that need to be addressed and my policy prescriptions for them.
40. I look forward to new ideas and suggestions from you all.
Thank you and all the very best for a successful event!
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I. Trends in Resource Mobilisation by Corporates
Exhibit 1: Funds Mobilisation by Corporates (` crore)
Particulars Aug-19 Sep-19
A. Funds Mobilisation through Public Issue (I+II) 6,943 295
I. Equity Public Issue 4,149 34
a. IPOs (i+ii) 4,047 34
i. Main Board 4,039 0
ii. SME Platform 8 34
b. FPOs 0 0
c. Equity Right Issue 102 0
II. Debt Public Issue 3,122 260
B. Funds Mobilisation through Private Placement 42,574 64,418
1. QIP/IPP 1,930 14,300
2. Preferential Allotment 335 1,489
3. Private Placement of Debt 40,309 48,629
Total Funds Mobilised (A+B) 49,517 64,713
Notes: Current month data are provisional Source: SEBI, NSE, BSE and MSEI
CAPITAL MARKET REVIEW
l During September 2019, there were five publicequity issuance (all the issuances were at SME platform) mobilizing ` 34 crore as compared to four public equity issuance mobilizing ` 4,047 crore in August 2019.
l During September 2019, there was no right issue as against one right issue for ` 102 crore in August 2019.
l During September 2019, the amount raised through private placement of equity (i.e. preferential
allotment and QIP route) stood at ` 15,789 crore comparing with ` 2,265 crore in August 2019.
l During September 2019, there were two issues amounting ` 260 crore from the Public Issue of Corporate Bonds comparing with five issuesamounting ` 3,122 crore in August 2019.
l During September 2019, Private Placement of Corporate Debt Reported to BSE and NSE increased by 20.6 per cent to ` 48,629 crore over ` 40,309 crore in August 2019.
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II. Trends in the Secondary Market
Exhibit 2: Snapshot of Indian Capital Market
Description Aug-19 Sep-19Change during the
MonthIndex in Equity Market
Sensex 37,333 38,667 3.6Nifty 50 11,023 11,474 4.1Nifty 500 8,978 9,341 4.0BSE 500 14,234 14,810 4.0Nifty Bank 27,428 29,103 6.1Nifty IT 16,010 15,540 -2.9BSE Healthcare 12,875 12,494 -3.0BSE FMCG 11,077 11,767 6.2
Market Capitalisation (` crore)BSE 1,40,98,452 1,47,17,456 4.4NSE 1,39,76,168 1,45,73,003 4.3
P/E RatioSensex 26.3 26.4 0.7Nifty 50 27.3 27.0 -0.8
No of Listed CompaniesBSE 5317 5,332 0.3NSE 1952 1955 0.2
Gross Turnover in Equity Segment (` crore)BSE 50,805 52,690 3.7NSE 6,73,633 7,10,498 5.5
Gross Turnover in Equity Derivatives Segment (` crore)BSE 20 350 1679.9NSE 3,04,77,779 2,89,19,316 -5.1
Gross Turnover in Currency Derivatives Segment (` crore)BSE 6,24,311 5,84,638 -6.4NSE 10,27,025 8,79,828 -14.3MSEI 2,369 3,329 40.5
Gross Turnover in Interest Rate Derivatives Segment (` crore)BSE 11,924 11,213 -6.0NSE 32,496 28,898 -11.1
Source: NSE, BSE and MSEI
l Indian benchmark indices Sensex and Nifty50 registered a biggest single session gain in the last 10 years after Finance minister slashed corporate tax rate to 25.2 per cent from 34.9 per cent. On September 20, 2019, the Sensex closed at 38,014 up by 1,921.2 points (5.3 per cent), while Nifty was up by 569.4 points (5.3 per cent) closed at 11274.
l At the end of September 2019, Nifty 50 closed at 11,474, increased by 451 points (4.1 per cent) over August’s closing.
l S&P Sensex closed at 38,667 on September 30, 2019, an increase of 1,335 points (3.6 per cent) over previous month.
l Nifty touched high at 11,600 on September 23, 2019 and Sensex touched high of 39,097 on September 24, 2019.
l Nifty touched its low at 10,705 on September 13, 2019 while Sensex touched its low at 36,093 on September 19, 2019.
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Figure 1: Movement of Sensex and Nifty during September 2019
Note: The closing value of Nifty 50 and Sexsex have been normalised to100 on September 03, 2019
l The market capitalisation of BSE stood at ` 1,47,17,456 crore as on September 30, 2019, increased by 4.4 per cent over previous month.
l The market capitalisation of NSE stood at ` 1,45,73,003 crore as on September 30, 2019, increased by 4.3 per cent over previous month.
Figure 2: Trends in Average Daily Values of Nifty 50 and NSE Equity Cash Segment Turnover
l During September 2019, the gross turnover in the equity segment of BSE increased by 3.7 per cent to ` 52,690 crore from ` 50,805 crore in August 2019.
l During September 2019, the gross turnover in the equity segment of NSE increased by 5.5 per
cent to ` 7,10,498 crore from ` 6,73,633 crore in August 2019.
l The P/E ratios of S&P BSE Sensex and Nifty 50 index were 26.4 and 27 respectively, at the end of September 2019 compared to the reading of 26.3 and 27.3 respectively a month ago.
.
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Figure 3: Trends in Average Daily Values of Sensex and BSE Equity Cash Segment Turnover
l During the month of September 2019, most of the sectoral indices witnessed upward trends after Finance minister slashed corporate tax rate to 25.2 per cent from 34.9 per cent. Among BSE indices, S&P BSE Consumer Durables increased by 10.5 per cent, followed by S&P BSE Capital Goods (10.4 per cent), S&P BSE Metal (6.6 per cent), S&P BSE
Bankex (6.3 per cent), S&P BSE FMCG (6.2 per cent), S&P BSE Small Cap (5.1 per cent) and S&P BSE PSU (4.1 per cent). On the other hand, S&P BSE Healthcare and S&P BSE Teck decreased by 3 per cent and 2.5 per cent respectively during the period. The average daily volatility for the month of September 2019 is given in Figure 4.
Figure 4: Performance of BSE Indices during September 2019
l Among select NSE sectoral indices, Nifty MNC increased by 9 per cent during September 2019, followed by Nifty FMCG (6.4 per cent), Nifty Bank (6.1 per cent), Nifty Next 50 (4.2 per cent), Nifty 100 (4.1 per cent), Nifty 500 (4.1 per cent), Nifty 200 (3.9 per cent) and Nifty Midcap 50 (3.1
per cent). On the other hand, Nifty PSU Bank decreased by 7.3 per cent followed by Nifty Pharma (6.5 per cent), Nifty Media (6 per cent) and Nifty IT (2.9 per cent). The average daily volatility for the month of September 2019 is given in Figure 4.
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Figure 5: Performance of NSE Indices during September 2019
III. Trends in Depository Accounts
At the end of September 2019, there were 205 lakh demat accounts at NSDL and 188 lakh demat accounts at CDSL. Till the end of September 2019, 5,682 listed companies
were signed up with NSDL 5,622 listed companies were signed up with CDSL to make their shares available in dematerialised form.
IV. Trends in Derivatives Segment
A. Equity Derivatives
Exhibit 3: Trends in Equity Derivatives Market
Description
NSE BSE
Aug-19 Sep-19Percentage
Change Over Month
Aug-19 Sep-19Percentage
Change Over Month
A. Turnover (` crore)(i) Index Futures 6,06,554 6,40,331 5.6 0.8 271.5 32519(ii) Options on Index
Put 1,22,58,488 1,16,07,223 -5.3 0.0 0.0 NACall 1,53,70,795 1,43,86,400 -6.4 0.0 0.0 NA
(iii) Stock Futures 12,06,917 12,46,228 3.3 18.8 43.0 128.7(iv) Options on Stock
Put 3,80,210 3,71,253 -2.4 0.0 14.8 NACall 6,54,814 6,67,880 2.0 0.0 266.0 NA
Total 3,04,77,779 2,89,19,316 -5.1 19.6 595.3 2,931.1B. No. of Contracts
(i) Index Futures 87,43,443 91,92,584 5.1 9 2,883 31,933.3(ii) Options on Index
Put 19,19,54,279 18,03,49,807 -6.0 0 0 NACall 23,57,38,134 21,95,69,955 -6.9 0 0 NA
(iii) Stock Futures 2,22,57,696 2,22,34,125 -0.1 357 921 158.0
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Description
NSE BSE
Aug-19 Sep-19Percentage
Change Over Month
Aug-19 Sep-19Percentage
Change Over Month
(iv) Options on Stock Put 68,83,458 66,29,230 -3.7 0 197 NACall 1,10,25,879 1,09,44,617 -0.7 0 266 NA
Total 47,66,02,889 44,89,20,318 -5.8 366 4,267 1,065.8C. Open Interest in terms of Value ( ` crore)
(i) Index Futures 24,119 21,816 -9.6 0 2 NA(ii) Options on Index
Put 68,441 71,009 3.8 0 0 NACall 57,404 74,294 29.4 0 0 NA
(iii) Stock Futures 1,06,618 1,12,872 5.9 2.8 1.9 -33.4(iv) Options on Stock
Put 7,195 8,024 11.5 0 0.1 NACall 9,981 12,563 25.9 0 0.0 NA
Total 2,73,758 3,00,577 9.8 2.8 4.4 54.2D. Open Interest in Terms of No of Contracts
(i) Index Futures 3,16,635 2,75,775 -12.9 0 24 NA(ii) Options on Index
Put 8,99,271 9,10,048 1.2 0 0 NACall 7,93,381 9,98,177 25.8 0 0 NA
(iii) Stock Futures 18,60,658 19,25,242 3.5 49 31 -36.7(iv) Options on Stock
Put 1,36,086 1,48,158 8.9 0 2 NACall 1,86,570 2,36,769 26.9 0 0 NA
Total 41,92,601 44,94,169 7.2 49 57 16.3
Source: NSE and BSE
l Among the three exchanges in the equity derivative market ecosystem, viz., NSE, BSE and MSEI, NSE has a market share of almost 100 per cent and BSE registeredaninsignificantvolumeshowever,MSEIhas no trading during September 2019.
l The notional monthly turnover in the equity derivatives segment of NSE increased by 5.1 per cent from ` 304.8 lakh crore in August 2019 to ` 289.2 lakh crore in September 2019.
l Index options accounted for 89.9 per cent of the total notional turnover in the F&O segment of NSE during the month compared to 90.7 per cent during last month.
l The notional turnover in index options (call and put together) decreased by 5.9 per cent to ` 259.9 lakh crore in September 2019 from ` 276.3 lakh crore in August 2019.
l During the month, the notional turnover of index futures increased by 19.3 per cent to ` 6,40,331 crore from ` 6,06,554 crore in August 2019.
l The notional turnover of stock futures increased by 0.4 per cent to ` 10,39,134 crore from ` 10,35,025 crore in August 2019.
l The notional turnover in stock options (call and put together) increased by 3.3 per cent to ` 12.5 lakh crore crore from ` 12.1 lakh crore crore during the period.
l As on September 30, 2019 the open interest at NSE stood at ` 3,00,577 crore from ` 2,73,758 crore, an increase of 9.8 per cent over previous month.
l In September 2019, the equity derivatives segment turnoverof BSEincreasedsignificantlyto`595.3 crore compared to ` 19.6 crore in August 2019.
.
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Figure 6: Trends of Equity Derivatives Segment at NSE (` crore)
B. Currency Derivatives at NSE, BSE and MSEI
l During September 2019, the monthly turnover of currency derivatives in India (NSE, BSE and MSEI together) stood at ̀ 14.7 lakh crore from ̀ 16.5 lakh crore in August 2019, a decrease of 10.9 per cent.
l The trading volumes in Currency Derivatives at NSE decreased by 14.3 per cent to ` 8,79,828 crore in September 2019 from ` 10,27,025 crore in August 2019.
l The trading volumes in Currency Derivatives at BSE decreased by 6.4 per cent to ` 5,84,638 crore from ` 6,24,311 crore during the same period.
l The trading volumes in Currency Derivatives at MSEI stood at ` 3,329 crore in September 2019 from ` 2,369 crore in August 2019, increase of 40.5 per cent..
Figure 7: Trends of Currency Derivatives at NSE, MSEI and BSE (` crore)
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V. Trading in Corporate Debt Market
l During September 2019, BSE noted 3,550 trades of corporate debt with a traded value of ` 43,012 crore as compared to 4,175 trades of corporate debt with a traded value of ` 58,482 crore in August 2019.
C. Interest Rate Futures at NSE and BSE
• During September 2019, the monthly turnoverof interest rate futures at NSE decreased by 11.1 per cent to ` 28,898 crore from ` 32,496 crore in August 2019.
• Themonthly turnover of interest rate futures atBSE decreased by 6 per cent to ̀ 11,213 crore from ` 11,924 crore during the same period.
Figure 8: Trends of Interest Rate Futures at NSE and BSE (` crore)
l At NSE, 5,297 trades were noted with a traded value of ` 97,677 crore in September 2019 as compared to 6,095 trades were noted with a traded value of ` 1,04,532 crore in August 2019.
Figure 9: Trends in Reported Turnover of Corporate Bonds (` crore)
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VI. Trends in Institutional Investment
A. Trends in Investment by Mutual Funds
l Themutual fund industry saw a net outflow of ` 1,51,790 crore in September 2019 compared to anetinflowof ` 1,02,538 crore in August 2019.
l In terms of category of scheme, during September 2019, open ended schemes liquidated ` 1,47,735 crore of which ̀ 1,58,033 crore mobilised through Income/Debt Oriented Schemes. Further, growth/equity oriented schemes mobilized by ` 6,609 crore, Hybrid Schemes mobilized ` 2,028 crore, other schemes (ETFs) mobilised ` 1,521 crore and ` 140 crore mobilized through Solution Oriented Schemes.
l There was a net redemption of ` 4,032 crore and ` 24 crore from closed ended schemes and interval schemes during September 2019.
l The net assets under management of all mutual
funds stood at ` 25.5 lakh crore at the end of September 2019.
l As on September 30, 2019, there were a total of 1,903 mutual fund schemes in the market, of which 1,138 were income / debt oriented schemes (314 open ended and 824 closed ended), 439 were growth / equity oriented schemes (318 open ended and 121 closed ended), 141 were open ended other schemes (ETFs), 129 were open ended Hybrid schemes, 30 were open ended Solution Oriented Schemes and 26 interval schemes.
l In the secondary market transaction, during September 2019, mutual funds made an investment of ` 42,384 crore (` 11,029 crore in equity and ` 31,354 crore in debt) compared to an investment of ` 67,723 crore (`17,407 crore in equity and ` 50,316 crore in debt) in August 2019.
Figure 10: Trends of Mutual Funds Investment in Secondary Market (` crore)
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B. Trends in Investment by the Foreign Portfolio Investors (FPIs)
• During September 2019, FPIs invested ` 7,548 crore in equity market as compared to ` 17,592 crore liquidation in August 2019.
• FPIs withdrawn ` 990 crore during September 2019 from debt securities as against an investment of ̀ 11,672 crore in debt securities in August 2019.
• FPIs invested ` 25 crore in hybrid securities compared to an investment of ` 49 crore during
the period.
• FPIswereanetbuyerof ̀ 6,582 crore in September 2019 compared to a net seller of ` 5,871 crore in August 2019.
• The assets of the FPIs in India, as reported bythe custodians, at the end of September 2019 was ` 32,91,703 crore, out of which the notional value of offshore derivative instruments (including ODIs on derivatives) was ` 75,916 crore (or 2.3 per cent of total assets of FPIs).
Figure 11: Trends in FPIs Investment (` crore)
VII. Trends in Portfolio Management Services
l As on September 30, 2019, AUM of the portfolio management industry increased by 2.1 per cent to ` 17.1 lakh crore from ` 16.7 lakh crore in August 2019. Of the total, AUM of fund managers of EPFO/PFs contributed ̀ 12.3 lakh crore (i.e., 73.6 per cent of total AUM).
l In terms of number of clients in PMS industry at the end of September 2019, discretionary services
category topped with 1,47,638 clients, followed by non-discretionary category with 7,705 clients and advisory category with 4,075 clients.
VIII. Trends in Substantial Acquisition of Shares and Takeovers
During September 2019, 12 open offers with offer value of ` 1,502 crore was made to the shareholders as against fiveopenofferswithoffervalueof ` 4,733 crore made in August 2019. All the offers were for change in control of management.
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Figure 12: Details of Open Offers Made under the SEBI (SAST) Regulations
IX. Commodities Derivatives Markets
A. Market Trends
• DuringSeptember2019,MCXicomdexcompositeindex, witnessed a fall of 1.8 per cent (M-o-M) driven by decrease in prices of base metals (aluminium, copper and lead), energy (crude oil), bullion (gold and silver) and agri. (cotton, CPO andmenthaoil)segments.OnY-o-Ybasis,MCXicomdex composite index decreased by 6.2 per cent, mainly on account of decline in prices of eight out of 13 traded commodities viz. aluminium, copper, crude oil, natural gas, zinc, cotton, CPO and mentha oil over the past year.
• During the month, MCX icomdex crude oilcomposite index, decreased by 0.1 per cent on account of decrease in futures price of crude oil by1.8percent.Further, thedowntrendinMCXicomdex base metal index (-1.0 per cent) was due to decrease in futures prices of aluminium (-2.2 per cent), copper (-0.3) per cent and lead (-0.1 per cent), which were partially offset by increase in futures prices of nickel and zinc by 6.4 per cent and 0.4 per cent respectively.
• MCX icomdex bullion index decreased by 3.3per cent as futures prices of both gold and silver decreased by 4.5 per cent and 5.6 per cent respectively, during the month.
• AtMCX, in the agri. segment, futures prices of cotton, CPO and mentha oil decreased by 2.8 per cent, 0.7 per cent and 2.0 per cent respectively, which was partially offset by increase in futures price of cardamom (5.1 per cent).
• NKrishiindexdecreasedby3.7percent(M-o-M)as 5 out of 10 constituent commodities (guar seed, turmeric, cottonseed oilcake, coriander and castorseed) witnessed a downtrend in futures prices. On Y-o-Y basis, the NKrishi index registered a gain of 8.2 per cent at the end of September 2019 mainly on account of significant increasein prices of six of its actively traded constituent commodities viz. cottonseed oilcake (28.7 per cent), soybean (20.4 per cent), coriander (15.0 per cent), castorseed (5.6 per cent), chana (4.0 per cent) and wheat (1.8 per cent)..
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Figure 13: Movement of Commodity Derivatives Market Indices
Note: MCXicomdexcompositeindexareupto27thSep2019onlyasMCXhasdiscontinueddisseminationof itsco-brandedTR icomdex indices since Sep 27, 2019.Source: MCXandNCDEX
• During September 2019, average daily volatility inMCX icomdex composite and NCDEX NKrishiindices was recorded at 1.0 per cent and 0.6 per cent
Figure 14: Variation (point-to-point) and daily volatility of commodity indices in September 2019 (per cent)
respectively. The daily volatility and price variation over the previous month for benchmark commodity indices are shown in the Figure 14 below.
Source: MCXandNCDEX
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Table 1: Snapshot of Indian Commodity Derivative Markets
Items 2018-19 Aug-2019 Sep -2019 Percentage variation M-o-M
A. Indices
Nkrishi 3,414 3,559 3,429 -1.8
MCXiCOMDEX 600 610 599* - 3.7
B. Total Turnover (in Rs. crore)
All-India 73,77,944 8,05,020 8,59,269 6.7
MCX,of which 67,72,372 7,57,572 8,17,553 7.9
Futures 65,91,428 7,34,243 7,86,095 7.1
Options 1,80,944 23,330 31,458 34.8
NCDEX,of which 5,31,588 38,311 35,117 - 8.3
Futures 5,31,414 38,311 35,116 -8.3
Options 174 0.5 0.8 53.7
ICEX 37,376 2,635 1,761 -33.1
BSE 32,804 5,013 3,902 -22.1
NSE 3,444 1,489 535 -37.2 *upto 27th Sept.2019. Source: MCX, NCDEX, ICEX, BSE and NSE.
B. Turnover
• During September 2019, the aggregate turnoverof all commodity exchanges increased by 6.7 per cent to ` 8,59,269 crore due to increase in turnover at MCX. However, the turnoverat other four exchanges viz. NCDEX, ICEX,BSE and NSE decreased during the month. The agricultural segment contributed 5.1 per cent to the total turnover, while non-agricultural segment accounted for 94.9 per cent.
• The total turnover (futures & options) at MCXincreased by 7.9 per cent to ̀ 8,17,553 crore during September 2019. The turnover in futures segment increased by 7.1 per cent due to rise in volume and traded value of bullion, metal and energy segment. While turnover in bullion, metal and energy futures rose by 7.3 percent, 7.1 per cent and 7.5 per cent respectively, further agri. futures declined by 27.1 per cent in September. The notional turnover of optionscontractstradedatMCXincreasedby34.8per cent during the month as options turnover in all the three segments increased. Options turnover in energy segment increased by 50.8 per cent,
followed by bullion (24.2 per cent) and metal (13.8 per cent). The options contracts contributed 3.8 percenttothetotalturnoveratMCX.
• MCX added one more commodity in its agri.basket by launching futures trading in kapas on 30th September 2019 and recorded a total turnover of ` 7 crore during the month.
• During themonth, the total turnover (futures&optionscontracts)atNCDEXdecreasedby8.3percent to ` 35,117 crore, due to decrease in volumes and traded value of all the traded commodities (total 18) except castorseed, chana, kapas, soybean and turmeric. Turnover in option segments at NCDEXincreasedfrom` 0.5 crore to ` 0.8 crore (+ 53.7 per cent) in September 2019. Out of the fivepermittedcommodities,tradingtookplaceinguarseed and chana options contracts during the month.
• InSeptember2019, turnover at ICEXdecreasedsignificantlyby33.1percentto` 1,761 crore due to decrease in traded value of gems and stone, metal (steel long) and agri. segments by 40.8 per cent, 27.8 per cent and 23.5 per cent respectively.
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Source: MCX,NCDEX,BSE&ICEX
Traded value of gems and stone segment declined significantlyfrom` 1,331 crore to ` 788 crore in September.
• Following the similar trend, the total turnover atBSE and NSE decreased by 22.1 per cent and 37.2 per cent respectively. Turnover in BSE decreased due to significant decline in volume and traded
value in agri. segment by 16.3 per cent and 24.8 per cent respectively. At NSE, turnover decreased in both bullion and energy segments by 37.7 per cent and 29.8 per cent respectively.
• Theturnoverof agriculturalandnon-agriculturalcommodities at exchanges is shown in Figures 15, 16 and the details are given in Tables 66 to 70.
Figure 15: Trends in turnover of agricultural commodity derivatives (`crore)
Figure 16: Trends in turnover of non-agricultural commodity derivatives - futures and options
Source: MCX,ICEX,BSE&NSE. Note:-Valuesrepresentedonthetopof thebarsarerespectivemonthlyoptionturnoveratMCX(inRs.crore).
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Source: MCX,NCDEX,ICEX,BSEandNSE
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.
Figure 17: Movement of Near Month futures prices (M-o-M) for commodities traded on domestic exchanges during September 2019 (per cent)
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OVERVIEW OF THE GLOBAL FINANCIAL MARKETS• The global economic growth has softened in the
2nd quarter of 2019. According to World Bank, global growth is expected to slow to 2.6 percent in2019,reflectingweaker-than-expectedtradeandinvestment since the start of the year. Subdued investment in emerging market and developing economies is dampening potential growth prospects. Risks to the outlook remain firmlyon the downside, including the possibility of escalating trade tensions. Growth is projected to gradually rise to 2.8 percent by 2021.
• In the major political development, tensionsin the Middle East surged following attacks on two major oil facilities in Saudi Arabia. The pre-dawn attacks on September 14 knocked out more than half of the top global exporter’s output - five per cent of the global oil supply - or about5.7 million barrels per day. The oil prices surged as much as 15 per cent to US$ 69 per barrel. The crude prices corrected subsequently to settle near US$ 56 per barrel by the end of September 2019, as Saudi Arabia announced restoration of 75 per cent of crude output lost and no break out of war.
• TheUS-Chinatradewarconcernsappeartohaveeased for the time being after both parties showed intention to resume talks in October 2019. China exempted certain U.S. agricultural products from additional tariffs, and President Donald Trump delayed a scheduled 5 per cent increase in tariffs on US$ 250 billion Chinese goods from October 1 to October 15
• TheUSFederalReservecutthefedfundratesby25bps in September 2019, for the second time this year (with policy rates now between 1.75 – 2.0 per cent),onthebackof lackof inflationarypressures,slow business investment growth and a struggling exports sector. The Fed stated that it is willing to cut rates even further if economic conditions weaken further.
• Mario Draghi, The President of the EuropeanCentral Bank (ECB), introduced a fresh round of monetary stimulus in an effort to bolster growth and inflationexpectations.Herelaunchedaquantitativeeasing programme which will purchase $20bn of
bonds a month starting from November 2019, cut the main deposit rate from -0.4 per cent to -0.5 per cent and introduced a third round of targeted longer-termrefinancingforbanks(TLTRO).
• The House of Commons in the UK (UKParliament) passed a bill designed to prevent a no-deal exit from the European Union and requires Prime Minister Johnson to seek a delay on Brexit date by three months if the government failed to secure a deal with the EU by 31st October.
• Majorcentralbanksacrosstheglobechangedtheirmonetary policy stance towards accommodative, on the concerns of slower than expected global growth. Many countries including Brazil, Russia, and India lowered their policy interest rate. Bank of England (BOE) and Bank of Japan (BOJ) held rates steady at 0.75 per cent and -0.1 per cent respectively.
• The global equities, led by US stocks, ralliedstrongly in the first half of September 2019, asimprovements in the outlook for U.S.–China trade talks supported risk markets. MSCI World Indexgainedover3per cent in thefirstpartof September, but gave up some gains in the second half to close up only 1.9 per cent. MSCI Europe index gained 2.1 per cent. MSCI Emerging Market index was up 1.7 per cent.
• Since the start of September there has been abroad-based increase in nominal bond yields, although most gains were lost in the second half of September 2019. The U.S. 10-year Treasury yield rose 17 bps to 1.66 per cent, the 10-year German bund yield rose 13 bps to –0.57 per cent, the 10-year Japanese government bond rate rose 6 bps to 0.21 per cent, and the 10-year U.K gilt yield moved marginally higher (1 bp) to 0.49 per cent.
• TheU.S.dollarendedthemonthstronger(up0.5per cent). The euro weakened 0.8 per cent versus the dollar on rate cut and announcement of further QE. The Japense Yen weakened 1.7 per cent on monetary easing expectations. In contrast, the British pound strengthened 1.1 per cent against the dollar on somewhat positive Brexit-related news as the odds of a no-deal Brexit appeared to diminish
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• TheUS economy slowed down a bit in the 2ndquarter of 2019, as the GDP grew at an annual rate of 2.0 per cent in Q2 of 2019 (compared to 3.1 per cent in the previous quarter and 3.5 per cent in the same quarter last year), as the uncertainty over the trade with the partners primarily weighed on the growth.
• Thequarter-on-quarter(Q-o-Q)GDPgrowthrateof the Euro Area softened to 0.2 per cent in Q2 of 2019 from 0.4 per cent in previous quarter, pulled down mainly by Germany, United Kingdom and Sweden.
• Japan’s quarterly economic growth was revisedlower to 0.3 per cent in the second quarter of 2019 from a preliminary estimate of 0.4 per cent and compared to the previous period’s 0.5 per cent growth.
• TheChineseeconomyhasbeenhitbytheongoingtrade war with the US. China’s GDP grew at a pace of 6.2 per cent Y-o-Y during the second quarter of 2019 which is the weakest growth rate in at least 27 years (since 1992). The Q-o-Q GDP growth rate for Q2 was 1.6 per cent, slightly up from the Q1 figureof 1.4percent.
• TheBrazilianeconomygrewby0.4percentinQ2compared to a contraction of 0.1 percent in Q1 and on year-on-year basis, it expanded 1.0 per cent in the second quarter, recording a growth of 0.5 per cent from Q1.
• Onthedomesticfront,India’sGDPgrewby5.0per cent in Q1 2019-20, continuing the slowdown in the growth rate since Q4 2017-18. The slowdown in growth rate has been on account of global as well asdomestic factors.Retail inflation in India,measured by y-o-y change in the CPI, edged up to 3.21 per cent in August from 3.15 per cent in September. The Reserve Bank of India cut the interest rate further by 25 bps to 5.15 per cent, on growth concerns and also lowered its growth projection for 2019-20 to 6.1 percent from the earlier projection of 6.9 per cent. Meanwhile, World Bank has lowered its 2019-20 growth projection for India to 6 per cent from earlier forecast of
7.5 percent. On the positive side, Indian equities staged strong recovery as the government lowered basic corporate tax rate for domestic companies to 22 per cent from 30 per cent while for new manufacturing companies it has been cut down to 15 per cent from 25 per cent. The government also withdrew enhanced surcharge levied on long and short-term capital gains for individuals and trusts earning more than Rs 2 crore. The stock market welcomed the announcements, as both Nifty and Sensex gained over 5 per cent in a day.
Equity Markets:
• The stock market returns have improved inSeptember 2019 and the select indices of developed markets as well as in BRICS nations posted positive returns during September 2019, except the South African Index which fell by 0.8 per cent.
• The Indian indices, Nifty and Sensex first timeturned month-on-month positive in September 2019 since June 2019. Both the indices were bearish for last few months. Nifty gained 4.1 per cent and Sensex gained 3.6 per cent during September. However, they are yet to catch up with the June 2019 level. The positivity could be attributed measures government has taken during the month to lift up the slowing down economy. The government had slashed the Corporate Tax Rate from 34.9 per cent to 25.2 per cent and Minimum Alternate Tax from 18.5 per cent to 15 per cent.
• Amongst the developed nations, Japan recordedthe highest return of 5.1 percent during September while South Korea followed with 4.8 per cent. The Indian index NSE Nifty led the stock indices of BRICS nations, with 4.1 per cent followed by BSE Sensex and Brazil IBovespa with 3.6 per cent each.
• There was a complete reversal in the behaviourof MSCI indices too during September 2019 as against August 2019. All the indices recorded positive returns in September 2019 over the previous month. The MSCI Emerging Markets Index underperformed the MSCI World.
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Source: Bloomberg Note: All indices have been indexed with base as January 01, 2019
Table A2: Performance of Stock Indices
Country Name of the IndexClosing Value as on August
31, 2019
Closing Value before Annualised Volatility
(%)
P/E Ratio1-Month 3-Month 6-Month 1-Year
BRICS Nations
Brazil BRAZIL IBOVESPA 104745.3 101134.6 100967.2 95414.6 79342.4 18.3 16.2
Russia RUSSIAN TRADED 1949.7 1904.7 2044.5 1758.9 1762.0 16.9 5.3
India Nifty 50 11474.5 11023.3 11788.9 11623.9 10930.5 15.3 26.4
India S&PBSESENSEX 38667.3 37332.8 39394.6 38672.9 36227.1 15.2 27.0
China SHANGHAI SE COMPOSITE 2905.2 2886.2 2978.9 3090.8 2821.4 19.2 14.1
South Africa FTSE/JSE AFRICA ALL SHR 54825.0 55259.6 58203.8 56462.6 55708.5 12.4 14.3
Developed Markets
USA NASDAQ COMPOSITE 7999.3 7962.9 8006.2 7729.3 8046.4 16.3 31.4
USA DOW JONES INDUS. AVG 26916.8 26403.3 26600.0 25928.7 26458.3 12.5 18.0
France CAC 40 5677.8 5480.5 5539.0 5350.5 5493.5 13.3 19.5
Germany DAX 12428.1 11939.3 12398.8 11526.0 12246.7 13.6 20.2
UK FTSE 100 7408.2 7207.2 7425.6 7279.2 7510.2 10.7 18.0
Hong Kong HANG SENG 26092.3 25724.7 28542.6 29051.4 27788.5 15.5 10.2
South Korea KOSPI 2063.1 1967.8 2130.6 2140.7 2343.1 12.3 20.3
Japan NIKKEI 225 21755.8 20704.4 21275.9 21205.8 24120.0 13.4 20.2
Singapore STRAITS TIMES STI 3120.0 3106.5 3321.6 3212.9 3257.1 10.0 11.6
Taiwan TAIWANTAIEX 10829.7 10618.1 10730.8 10641.0 11006.3 10.4 15.5
Note:P/E Ratios as on the last trading day Source: Bloomberg, BSE and NSE
Chart 1: Stock Market Trend in Select Developed Markets
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Source: Bloomberg Note: All indices have been indexed with base as January 01, 2019.
Fund Mobilisation by Issuance of Equity and Bond:
• As per the data available fromWFE, there is areduction in resource mobilization during August 2019, both in Equity and Debt. Data is not available for certain stock exchanges.
• Among the developed nations, Korea Exchangeraised $ 42.8 billion ($0.2 billion in equity and 42.6 billion in debt) followed by Deutsche Boerse AG
with $ 32 billion merely through bond issuance.
• Among the BRICS nations, National StockExchange raised $ 38.7 billion ($37.7 billion through bond issuance and $1.0 billion through equity issuance), followed by Moscow Stock Exchange with $ 14.5 billion through bond issuance, during August 2019.
Chart 2: Stock Market Trend in Select Emerging Markets
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Table A3: Fund Mobilisation by Issuance of Equity and Bond in Major Exchanges
(US$ Million)
ExchangeJun-19 Jul-19
Equity Bond Total Equity Bond Total
Dev
elop
ed
Nasdaq - US 2,761 NA 2,761 594 NA 594 Nasdaq Nordic and Baltics 13 2,367 2,380 1 2,648 2,649 NYSE 3,384 NA 3,384 5,121 NA 5,121 LSE Group 2,309 50,209 52,518 319 25,281 25,600 Euronext 3,970 NA 3,970 1,810 NA 1,810 Deutsche Boerse AG 199 29,502 29,701 NA 31,974 31,974 BME Spanish Exchanges 1,495 29,691 31,186 1,222 17,598 18,820 Japan Exchange Group NA NA NA NA NA NA Singapore Exchange 11 44,653 44,664 4 28,443 28,447 ASXAustralianSecuritiesExchange 3,083 48 3,132 2,166 51 2,217 Hong Kong Exchanges and Clearing 2,742 20,342 23,084 1,793 7,094 8,887 Korea Exchange 350 45,373 45,723 219 42,649 42,868
BR
ICS
B3 - BrasilBolsaBalcão 511 NA 511 NA NA NA Moscow Exchange 2,187 30,478 32,664 NA 14,462 14,462 BSE India Limited NA NA NA NA NA NANational Stock Exchange of India Limited 1,305 40,592 41,897 1,029 37,718 38,747 Shanghai Stock Exchange 10,274 NA 10,274 1,965 NA 1,965 Shenzhen Stock Exchange 13,776 3,273 17,050 3,069 2,836 5,906 Johannesburg Stock Exchange NA 272,761 272,761 NA NA NA
Note: Fund mobilisation data for equities are (i) excluding investment funds and (ii) including Alternative and SME Markets except the following exceptions: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 BorsaItaliana7. Nasdaq Nordic Exchanges include Copenhagen, Helsinki, Iceland, Stockholm, Tallinn, Riga and Vilnius Stock Exchanges8. NSE India: including “Emerge” market data9. SingaporeExchange:marketcapitalizationincludesdomesticlistingsandasubstantialnumberof foreignlistings,definedascompanieswhoseprincipalplace
of business is outside of Singapore. Inactive secondary foreign listings are excluded.ForFundsmobilisedthroughissuanceof bonds,duetodifferentreportingrules&calculationmethods,turnoverfiguresarenotentirelycomparable.Thesale&purchase of a share are counted as one transactionNA = Not AvailableSource: World Federation of Exchanges
OCTOBER 2019 SEBI BULLETIN 2019
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Market Capitalisation of Major Exchanges:
• Market capitalisation of all economies of Developed as well as BRICS declined during August, 2019.
• Among developed nations, market cap of theSingapore Exchange fell the most in percentage terms 7.09 per cent ($50 billion), followed by NYSE of the US by 7.04 per cent ($1717 billion) and Hong Kong Exchanges and Clearing by 6.69
per cent ($274 billion).
• Among BRICS nations, market capitalisation of B3-Brasil BolsaBalcão declined by 7.94 per cent ($86 billion) followed by Moscow Exchange by 5.68 per cent ($40.5 billion) and Shanghai Stock Exchange by 5.09 per cent ($ 244 billion). BSE India Limited fell by 3.94 per cent or by $ 80 billion in value. .
Table A4: Domestic Market Capitalisation of Major Exchanges
(US$ Million)
Country Exchange Jul-19 Aug-19 % Change
Dev
elop
ed M
arke
ts
USA Nasdaq - US 11,893,399 11,675,199 (1.83)USA NYSE 24,382,730 22,666,010 (7.04)UK LSE Group 3,812,153 3,669,728 (3.74)Pan Europe* Euronext 4,329,940 4,200,985 (2.98)Germany Deutsche Boerse AG 1,888,897 1,841,977 (2.48)Spain BME Spanish Exchanges 737,907 723,047 (2.01)Japan Japan Exchange Group 5,629,343 5,560,111 (1.23)Singapore Singapore Exchange 711,911 661,457 (7.09)Hong Kong Hong Kong Exchanges and Clearing 4,098,837 3,824,495 (6.69)South Korea Korea Exchange 1,319,127 1,260,570 (4.44)Australia ASXAustralianSecuritiesExchange 1,459,396 1,397,740 (4.22)
BR
ICS
Brazil B3 - BrasilBolsaBalcão 1,082,680 996,672 (7.94)Russia Moscow Exchange 712,927 672,437 (5.68)India BSE India Limited 2,054,029 1,973,108 (3.94)India National Stock Exchange of India Limited 2,033,454 1,955,995 (3.81)China Shanghai Stock Exchange 4,798,975 4,554,659 (5.09)China Shenzhen Stock Exchange 3,052,613 2,986,345 (2.17)South Africa Johannesburg Stock Exchange 958,471 NA NA
Notes:
1. Euronext: includes Belgium, England, France, Netherlands and Portugal2. JohannesburgStockExchange:figuresincludethemarketcapitalizationof alllistedcompanies,butexcludelistedwarrants,convertiblesandinvestmentfunds3. Korea Exchange: including Kosdaq market data4. LSE Group: includes London Stock Exchange and BorsaItaliana5. NSE India: including “Emerge” market data6. SingaporeExchange:marketcapitalizationincludesdomesticlistingsandasubstantialnumberof foreignlistings,definedascompanieswhoseprincipalplace
of business is outside of Singapore. NA - Not availableSource: World Federation of Exchanges, BSE
OCTOBER 2019 SEBI BULLETIN 2019
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Equity Derivatives:
As per the latest data available from the World Federation of Exchanges, during August 2019, the following performance was recorded in equity derivatives markets across the globe (Table A5 and A6):
Single Stock Futures:
• In Asia-Pacific region, the Korean Exchangeregistered trades in 50.9 million contracts, which declined by 12 per cent over the previous month. During the month, National Stock Exchange of India Ltd registered 22.3 million trades as against 0.08 million during July 2019.
• Amongst exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded 16.5 million contracts while Borsa Istanbul recorded trading of 13.8 million contracts.
Single Stock Options:
• Amongst exchanges in the Americas, B3 - Brasil Bolsa Balcão recorded 84.7 million contracts and Chicago Board Options Exchange recorded 71.9 million during August 2019, which is 36.9 per cent and 16.18 per cent increase respectively, over the past month.
• Amongst exchanges in the Europe - Africa - Middle East, Tehran Stock Exchange recorded trading of 0.3 million contracts and Tehran Stock Exchange 0.2 million contracts, which is a decline of 22.2 per cent and 99.7 percent, respectively over July 2019.
• AmongstexchangesintheAsiaPacific,theNationalStock Exchange of India recorded trading of 17.9 million contracts and Hong Kong Exchanges and Clearing 10.1 contracts, an increase of 23.3 per cent and 40.3 per cent respectively.
Index Futures:
• Amongst exchanges in the Americas, B3 - Brasil Bolsa Balcão recorded trades in 176.5 million during August 2019. CME Group recorded a 71.4 per cent increase in August 2019, with 88.5 million trades.
• Amongst exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 10.9 million contracts and Borsa Istanbul (5.4 million contracts). The exchanges recorded 41.7 per cent and 10.6 per cent increase over the last month.
• Amongst exchanges in the Asia Pacific, Japan
Exchange Group recorded trading of 32.6 million contracts and Singapore Exchange (16.7 million contracts), which is an increase of 64.5 per cent and 24.2 per cent increase respectively.
Index Options:
• Amongst exchanges in the Americas, Chicago Board Options Exchange recorded trading of 50.1 million contracts and CME Group (20.7 million contracts) during August 2019, with 28.9 per cent and 86.5 per cent increase over July 2019, respectively.
• Amongst exchanges in the Europe - Africa - Middle East, Tel-Aviv Stock Exchange recorded trading of 2.6 million contracts and Moscow Exchange (2.2 million contracts). Trading in both the exchanges increased by 21.7 per cent and 65.1 per cent during August 2019.
• Amongst exchanges in theAsiaPacific,NationalStock Exchange of India recorded trading of 427.7 million contracts and Korea Exchange (58.8 million contracts). Number of contracts traded in NSE during August 2019 increased by 15.6 per cent while it decreased for Korea Exchange by 4.2 per cent.
Currency Derivatives:
As per the latest data available from the World Federation of Exchanges, during August 2019, exchanges across the world showed the following trend in trading of currency derivatives (Table A7):
Currency Futures:
• Amongst exchanges in the Americas, B3 - Brasil Bolsa Balcão recorded trading of 48.5 million contracts and CME Group (16.9 million contracts). Both the exchanges recorded an increase of 41.9 per cent and 19.5 per cent respectively over July 2019.
• Amongst exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 51.5 million contracts and Borsa Istanbul (5.1 million contracts) with 53 per cent and 2.6 per cent growth over July 2019.
• Amongst exchanges in theAsiaPacific,NationalStock Exchange of India recorded trading of 67.2 million contracts and BSE India Ltd (36.5 million contracts) with 49.9 per cent and 21.1 per cent growth respectively over July 2019.
OCTOBER 2019 SEBI BULLETIN 2019
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Currency Options:
• Amongst exchanges in the Americas, CME Group recorded trading of 1.2 million contracts and B3 - Brasil Bolsa Balcão (0.9 million contracts). This recorded 15.6 per cent and 30.6 per cent growth respectively.
• Amongst exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 2.5 million contracts and Tel-Aviv Stock Exchange (1.2 million contracts), with 72.4 per cent and 75.3 per cent growth over July 2019.
• Amongst exchanges in the Asia Pacific, TheNational Stock Exchange recorded trading of 76.3 million contracts which increased by 63.8 per cent and BSE India Ltd recorded 51.7 million contracts which declined by 15.2 per cent during August 2019, over July 2019.
Interest Rate Derivatives:
As per the latest data available from the World Federation of Exchanges, during August 2019, exchanges across the world showed the following trend in trading of interest rate derivatives (Table A8):
Interest Rate Futures:
• Among exchanges in the Americas, CME Group recorded trading of 234.8 million contracts, and B3 - Brasil Bolsa Balcão (51.3 million contracts), with 68.4 per cent and 22.6 per cent increase in number of contracts traded over July 2019.
• Among exchanges in theAsia Pacific,AustralianSecurities Exchange recorded trading of 11.6 million contracts and Korea Exchange (4.1 million contracts), with 15.3 per cent and 25.5 per cent increase over July 2019.
• The National Stock Exchange and BSE India Ltd recorded trading of 1.5 million and 0.5 million contracts during August 2019, which decreased by 29.6 per cent and 26.2 per cent, respectively, over July 2019.
Interest Rate Options:
• Among exchanges in the Americas, CME Group recorded trading of 67.6 million contracts and B3 - Brasil Bolsa Balcão (0.4 million contracts); for CME Group the number of trades increased by 23.5 per cent and declined for B3 - Brasil Bolsa Balcão by 81.8 per cent in August 2019 over July 2019.
• Among exchanges in theAsia Pacific,AustralianSecurities Exchange recorded trading of 140 thousand contracts and Japan Exchange Group
(64 thousands contracts), trading in number of contracts increased in both the exchanges, in Australian Securities Exchange by 141.4 per cent and in Japan Exchange Group by 69.8 per cent.
Commodity Derivatives:
As per the latest data available from the World Federation of Exchanges, during August 2019, exchanges across the world showed the following trend in trading of commodity derivatives (Table A9):
Commodity Futures:
• Among exchanges in the Americas, CME Group recorded trading of 91.6 million contracts and ICE Futures US (6.0 million contracts). Trading of contracts in both the exchanges increased by 13.61 per cent and 20.67 per cent respectively over July 2019.
• Among exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 74.0 million contracts and London Metal exchange (14.1 million contracts). Number of contracts traded in Moscow Exchange increased by 30.3 per cent and it declined for London Metal Exchange by 7.6 per cent.
• AmongexchangesintheAsia–Pacific,ShanghaiFutures Exchange recorded trading of 158.0 million contracts and Dalian Commodity Exchange (128.3 million contracts), registering 16.6 per cent increase for the former and 0.47 per cent decline for the latter.
Commodity Options:
• Among exchanges in the Americas, CME Group recorded trading of 14.1 million contracts and ICE Futures US (0.9 million contracts), registering 10.4 per cent increase for the former and 22.1 per cent decline for the latter.
• Among exchanges in the Europe - Africa - Middle East, Moscow Exchange recorded trading of 1.1 million contracts and London Metal Exchange (0.5 million contracts), registering 97.9 per cent increase for the former and 11.7 per cent decline for the latter.
• Among exchanges in the Asia – Pacific, DalianCommodity Exchange recorded trading of 2.5 million contracts, followed by Zhengzhou Commodity Exchange (0.7 million contracts), registering a decline of 2.6 per cent and 45.4 per cent, respectively for the exchanges.
.
OCTOBER 2019 SEBI BULLETIN 2019
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Table A5: Stock Futures and Stock Options Traded in Major Exchanges
Notional Turnover (in USD Million)
Exchange
Aug-19Single Stock Futures Single Stock Options
Number of Contracts
Traded
Notional Value
Open Interest
Number of Contracts
Traded
Notional Value
Open Interest
Americas 296,497 16 206,819 242,217,804 400,065 207,469,639
B3 - Brasil Bolsa Balcão NA NA NA 84,742,223 102,245 24,785,390
Bolsa de Valores de Colombia 9,105 12 23,486 NA NA NA
Bolsa Mexicana de Valores NA NA NA NA NA NA
Cboe Global Markets NA NA NA 71,855,996 NA 178,643,508
Asia-Pacific 80,003,535 206,654 9,559,950 36,372,070 188,239 17,159,437
ASXAustralianSecuritiesExchange 32,594 75 674,185 6,085,749 12,113 7,095,278
Hong Kong Exchanges and Clearing 52,216 213 16,834 10,139,778 31,214 9,216,413
Japan Exchange Group NA NA NA 69,012 NA 168,997
Korea Exchange 50,863,455 22,099 4,195,154 2,153,628 NA 351,379
National Stock Exchange of India Limited 22,257,696 168,911 1,860,832 17,909,337 144,854 322,688
Taiwan Futures Exchange 1,782,889 15,356 130,375 14,566 58 4,682
Thailand Futures Exchange 4,851,478 NA 2,632,612 NA NA NA
Europe - Africa - Middle East 43,441,028 158,121 15,345,701 24,903,244 112,150 94,537,528
Athens Stock Exchange 634,254 156 388,477 1,422 0 2,529
Borsa Istanbul 13,778,015 2,313 1,190,152 331,370 40 554,201
Budapest Stock Exchange 9,231 64 7,294 NA NA NA
Dubai Gold and Commodities Exchange 104,164 NA 523 NA NA NA
Johannesburg Stock Exchange NA NA NA NA NA NA
Moscow Exchange 16,478,021 5,302 2,072,552 196,535 54 571,840
Tehran Stock Exchange NA NA NA 235,368 1 NA
Tel-Aviv Stock Exchange NA NA NA 108,800 764 63,554
Grand Total 123,741,060 364,791 25,112,470 303,493,118 700,453 319,166,604NA: Not Available Source: World Federation of Exchanges
OCTOBER 2019 SEBI BULLETIN 2019
817
Table A6: Index Futures and Index Options Traded in Major Exchanges
Notional Turnover (in USD Million)
Exchange
Aug-19 Stock Index Futures Stock Index Options
Number of Contracts
Traded
Notional Value
Open Interest
Number of Contracts
Traded
Notional Value
Open Interest
Americas 277,821,617 11,229,413 7,446,206 76,758,481 3,444,501 34,898,288B3 - Brasil Bolsa Balcão 176,459,207 945,476 881,004 5,655,178 40,244 465,666Bolsa de Valores de Colombia 1,177 5 415 NA NA NABolsa Mexicana de Valores NA NA NA NA NA NACboe Futures Exchange 7,936,967 NA 353,349 NA NA NACboe Global Markets NA NA NA 50,105,980 NA 29,445,572CME Group 88,494,231 10,082,654 4,258,569 20,703,844 3,404,161 4,911,087ICE Futures US 4,197,318 201,278 1,635,128 NA NA NAAsia-Pacific 96,483,945 3,853,078 7,157,472 513,849,564 7,632,451 14,546,893ASXAustralianSecuritiesExchange 1,204,700 129,817 433,187 921,448 39,446 916,422
Bursa Malaysia Derivatives 214,167 3,977 27,622 964 0 566China Financial Futures Exchange 4,718,581 662,013 323,546 NA NA NAHong Kong Exchanges and Clearing 11,504,878 1,144,500 651,469 4,261,117 418,411 3,261,336
Japan Exchange Group 32,583,679 1,201,376 1,971,463 3,157,003 NA 2,055,283Korea Exchange 8,844,547 317,117 810,095 58,837,908 3,016,421 3,650,836National Stock Exchange of India Limited 8,743,443 84,889 316,703 427,692,413 3,866,777 1,692,839
Singapore Exchange 16,734,488 NA 2,125,364 1,256,851 NA 2,207,077Taiwan Futures Exchange 7,419,753 309,389 162,036 17,469,283 291,396 677,009Thailand Futures Exchange 4,515,709 NA 335,987 252,577 NA 85,525Europe - Africa - Middle East 71,070,236 2,868,413 14,538,536 46,450,923 1,619,485 60,101,315Athens Stock Exchange 75,878 342 16,442 5,601 26 2,708Borsa Istanbul 5,411,147 11,385 439,247 22,681 49 34,480Budapest Stock Exchange 34,452 45 17,093 NA NA NAJohannesburg Stock Exchange NA NA NA NA NA NAMoscow Exchange 10,891,724 26,446 417,910 2,171,388 5,477 631,096Tehran Stock Exchange 347 1 NA NA NA NATel-Aviv Stock Exchange NA NA NA 2,640,847 118,029 166,716Grand Total 445,375,798 17,950,905 29,142,214 637,058,968 12,696,438 109,546,496
NA: Not Available Source: World Federation of Exchanges
OCTOBER 2019 SEBI BULLETIN 2019
818
Table A7: Currency Futures and Options Traded in Major Exchanges
Notional Turnover (in USD Million)
Exchange
Aug-19
Currency Futures Currency Options
Number of Contracts
Traded
Notional Value
Open Interest
Number of
Contracts Traded
Notional Value
Open Interest
Americas 87,230,917 2,520,049 10,668,031 2,052,243 138,165 1,652,528
B3 - Brasil Bolsa Balcão 48,481,146 866,100 6,685,140 879,803 536 963,668
Bolsa de Valores de Colombia 47,582 2,128 3,466 358 0 1,152
Bolsa Mexicana de Valores NA NA NA NA NA NA
CME Group 16,898,041 1,593,098 1,887,352 1,169,493 137,603 683,452
ICE Futures US 461,409 37,300 115,443 265 26 3,078
Asia-Pacific 115,360,217 216,433 4,533,980 127,969,739 127,283 2,659,435
BSE India Limited 36,524,837 36,437 NA 51,709,724 50,937 NA
Hong Kong Exchanges and Clearing 236,023 23,323 28,191 2,032 202 4,057
Korea Exchange 8,678,620 86,781 733,022 NA NA NA
National Stock Exchange of India Limited 67,172,392 67,725 3,611,422 76,252,863 76,009 2,650,991
Singapore Exchange 2,623,893 NA 126,020 NA NA NA
Taiwan Futures Exchange 83,568 2,167 6,191 5,120 135 4,387
Thailand Futures Exchange 40,884 NA 29,134 NA NA NA
Europe - Africa - Middle East 60,127,768 57,109 6,362,824 3,923,074 14,784 2,802,550
Borsa Istanbul 5,140,967 5,085 2,089,656 234,958 232 183,612
Budapest Stock Exchange 462,757 490 760,984 7,500 8 13,000
Dubai Gold and Commodities Exchange 3,050,189 NA 393,334 3,302 NA 550
Johannesburg Stock Exchange NA NA NA NA NA NA
Moscow Exchange 51,473,855 51,533 3,118,850 2,463,200 2,443 2,108,170
Tel-Aviv Stock Exchange NA NA NA 1,214,114 12,101 497,218
Grand Total 262,718,902 2,793,590 21,564,835 133,945,056 280,232 7,114,513NA: Not Available Source: World Federation of Exchanges
OCTOBER 2019 SEBI BULLETIN 2019
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Table A8: Interest Rate Futures and Options Traded in Major Exchanges
Notional Turnover (in USD Million)
Exchange
Aug-19
Interest Rate Futures Interest Rate Options
Number of Contracts
Traded
Notional Value
Open Interest
Number of Contracts
Traded
Notional Value
Open Interest
Americas 292,965,862 40,866,661 88,999,679 67,945,975 12,701,104 95,180,904
B3 - Brasil Bolsa Balcão 51,303,508 1,124,732 58,494,000 40,680 3 24,276,763
Bolsa de Valores de Colombia 18,842 1,510 12,914 NA NA NA
Bolsa Mexicana de Valores NA NA NA NA NA NA
CME Group 234,808,812 39,740,419 30,191,816 67,604,346 12,701,101 70,603,192
ICE Futures US NA NA NA NA NA NA
Asia-Pacific 19,884,339 3,697,700 5,607,335 204,718 9,455 34,934
BSE India Limited 578,510 1,669 NA NA NA NA
ASXAustralianSecuritiesExchange
11,606,423 3,084,103 4,644,883 140,310 9,455 32,000
China Financial Futures Exchange 1,213,914 194,159 115,208 NA NA NA
Hong Kong Exchanges and Clearing
136 21 200 NA NA NA
Japan Exchange Group 784,910 NA 134,104 64,408 NA 2,934
Korea Exchange 4,134,799 413,200 512,285 NA NA NA
National Stock Exchange of India Limited
1,543,335 4,548 179,226 NA NA NA
Singapore Exchange 22,312 NA 21,429 NA NA NA
Taiwan Futures Exchange NA NA NA NA NA NA
Thailand Futures Exchange NA NA NA NA NA NA
Europe - Africa - Middle East 81,975,099 35,547,861 17,279,562 15,123,753 7,261,639 21,405,517
Johannesburg Stock Exchange NA NA NA NA NA NA
Moscow Exchange 26,920 13 74,754 NA NA NA
Grand Total 394,825,300 80,112,221 111,886,576 83,274,446 19,972,198 116,621,355NA: Not Available Source: World Federation of Exchanges
OCTOBER 2019 SEBI BULLETIN 2019
820
Table A9: Commodity Futures and Options Traded in Major Exchanges
Notional Turnover (in USD Million)
Exchange
Aug-19 Commodity Futures Commodity Options
Number of Contracts
Traded
Notional Value
Open Interest
Number of Contracts
Traded
Notional Value
Open Interest
Americas 97,883,515 5,156,349 17,984,152 15,052,885 779,323 12,273,207B3 - Brasil Bolsa Balcão 119,451 806 66,455 53,334 7 98,104Bolsa de Valores de Colombia 45 0 269 NA NA NACME Group 91,638,102 5,031,327 15,829,364 14,065,112 759,110 11,006,455ICE Futures US 5,973,719 124,215 2,042,719 925,630 20,205 1,146,292Asia-Pacific 419,320,069 2,754,245 18,991,121 4,205,078 4,697 2,207,251ASXAustralianSecuritiesExchange 41,733 2,771 92,266 6,463 1,217 36,819Bursa Malaysia Derivatives 998,582 13,123 170,434 7,700 NA 9,050Dalian Commodity Exchange 128,256,752 919,050 6,523,643 2,458,540 125 534,839Hong Kong Exchanges and Clearing 85,343 3,395 3,016 NA NA NAIndonesia Commodity and Derivatives Exchange 5,869 NA 129 NA NA NAMulti Commodity Exchange of India 28,694,742 102,759 239,457 288,287 3,265 14,103NZXLimited 35,348 123 43,886 8,224 29 15,563Shanghai Futures Exchange 158,034,336 1,678,785 6,773,711 NA NA NASingapore Exchange 2,049,995 NA 853,620 689,267 NA 1,409,785Taiwan Futures Exchange 22,655 394 1,425 5,952 54 947Thailand Futures Exchange 925,704 NA 54,070 NA NA NAZhengzhou Commodity Exchange 100,151,577 33,637 4,234,558 740,645 8 186,145Europe - Africa - Middle East 136,986,911 3,430,887 16,045,758 4,951,097 58,426 6,048,707Borsa Istanbul 8,474,251 1,617 567,230 NA NA NADubai Gold and Commodities Exchange 65,396 NA 1,401 NA NA NAJohannesburg Stock Exchange NA NA NA NA NA NALondon Metal Exchange 14,071,454 1,308,369 2,229,254 476,997 52,595 350,247LSE Group 40 2 112 NA NA NAMoscow Exchange 74,000,538 45,430 1,302,644 1,146,082 670 279,980Grand Total 654,190,495 11,341,481 53,021,031 24,209,060 842,446 20,529,165
NA: Not Available Source: World Federation of Exchanges
OCTOBER 2019 SEBI BULLETIN 2019
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Debt Market:
• Yields for the first half of September remainedhigh compared to the second half. The continuing geopolitical developments and growth concerns are affecting the bond market for some time.
• TheFederalReservereducedthepolicyrateby25basis points in September 2019. The European Central Bank has cut its deposit rates to a record low of -0.5% from -0.4 per cent. The ECB has also approved a fresh stimulus package and would be restarting the bond repurchase of 20 billion euros
a month from November 2019.
• ForUS,the10yearbondyieldhashit3yearslowin September 2019. On September 3, 2019 the yield was 1.46. The yield has dropped for all the developed economies compared to September 2018.
• In the developed nations bond yields gainedmarginally for some economies, the yield went up for US by 17bps, for Japan by 6bps and in the BRICS group, Indian bond yields gained by 14bps and China by 8bps.
Chart 3: Movement of 10 year Government Bond Yields in Developed Nations
Source: Bloomberg
Chart 4: Movement of 10 year Government Bond Yields in BRIC Nations
Source: Bloomberg
OCTOBER 2019 SEBI BULLETIN 2019
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• Asof July 2019, Japan andChina accounted for17.1 per cent and 16.8 per cent of total foreign holding of US Treasury Securities. India accounted
for 2.4 per cent of total foreign holding of US Treasury Securities (Table A10).
Table A10: Major Foreign Holders of US Treasury Securities (US$ billion) 2019
Country/Month Jul Jun May Apr Mar Feb JanJapan 1130.8 1122.9 1101 1064 1078.1 1068.8 1064.9China, Mainland 1110.3 1112.5 1110.2 1113 1120.5 1130.9 1126.7United Kingdom 334.7 341.1 323.1 300.8 317.1 302.5 290.1Brazil 309.9 311.7 305.7 306.7 311.7 307.7 305.1Ireland 258.2 262.1 270.7 269.7 277.6 274 270.1Luxembourg 229.6 231 229.6 223.7 230.2 228.9 226.7Switzerland 228.5 232.9 231.4 226.9 226.4 221.4 227Cayman Islands 218.4 226.6 216.1 217.2 219.5 210.1 209.2Hong Kong 210.4 215.6 204 205.9 207.6 202.4 200.9Belgium 206.1 203.6 190.5 179.8 186.6 181.3 191.5Saudi Arabia 180.8 179.6 179 176.6 170 167.6 163.3Taiwan 178.7 175.1 172 171.1 168.8 164.9 168.3
India 159.9 162.7 156.9 155.3 152 144.3 144.9Singapore 137.9 139.6 150.4 139.3 138.8 130.5 127.8France 136.2 131.6 125.1 124.7 109.6 115.9 112.5Korea 117 115.2 117.3 115.1 119.9 115.5 117.3Canada 108.7 111.6 100.5 102.1 99.7 97.6 99.3Norway 96.9 99.3 99.3 97.1 99.5 97.1 90.9Thailand 89.5 83.8 81.4 82.2 84.4 90.9 83.7Germany 85.9 79.2 77.8 72.8 78.1 76.2 73.6Bermuda 68.6 73.9 69.1 66.4 68.1 66.9 66.4Mexico 51.2 49 49.9 47.6 44.7 40.5 41.2United Arab Emirates 49.3 51.5 53.2 55.7 55.6 54.5 55.9Netherlands 49.2 47.9 44.4 45 44.5 42.9 43Sweden 47.7 49.4 48.5 46.5 47.9 48.2 43.4Italy 45.6 45.4 42.5 43.7 44 42.1 41.1Kuwait 44 44.4 41.4 40.2 40.2 42.2 40.7Spain 42.9 42.6 42 41 40.9 37.7 36.6Australia 42.3 39.2 39.7 39.1 39.3 39.5 41.4Israel 40.1 39.5 36.1 36.2 34.8 35.4 30Iraq 34.9 34.7 34.4 35.4 36.2 34.7 34Philippines 33.9 32.2 30.7 27.3 25.1 21.2 21.1Colombia 30.7 31.1 29.6 29.7 31.5 27.2 26.8Chile 30.6 29.2 29.8 29 28.6 30 29.4All Other 491.1 488.5 505.7 506.6 495.8 483 480.1
Grand Total 6630.5 6636.3 6538.9 6433.5 6473.3 6374.8 6324.7
Of which:For.Official 4133.5 4135.9 4103.9 4062.5 4072.7 4024.9 3980.4 Treasury Bills 282.2 279.2 292.7 302.3 313.4 315.3 305.1 T-Bonds & Notes 3851.2 3856.8 3811.3 3760.2 3759.4 3709.6 3675.2
Note: 1. 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.2. 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 / September 17, 2019
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Currency Market:
• Currency markets across the globe were volatileowing to some international developments. During September 2019, the currencies marginally strengthened against the US dollar compared to August 2019.
• Thedollar index remained in the rangeof 98.25and 99.38 August 2019 and recorded the highest close price on September 30, 2019 at 99.38, since January 2019. This indicates that the dollar index has strengthened against its constituent foreign
currencies during the period. US Dollar Index contains six developed market currencies.
• The strengthening of the global currencieshas reflected in the performance of MSCI EMCurrency Index. The currency index gained 0.8 per cent as on September 30, 2019 over the closing as on August 30, 2019.
• TheINRdidnotfluctuatemuchduringthemonthunder review.
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. TheMSCIEmergingMarkets(EM)CurrencyIndextrackstheperformanceof twenty-fiveemerging-marketcurrenciesrelativetothe US Dollar.
Source: Bloomberg
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HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET
1. SEC Adopts New Rules and Amendments under Title VII of Dodd-Frank
The Securities and Exchange Commission (SEC) undertookasignificantsteptowardestablishingtheregulatory regime for security-based swap dealers by adopting a package of rules and rule amendments under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). These actions establish recordkeeping and reporting requirements for security-based swap dealers and major security-based swap participants and amend the recordkeeping and reporting requirements for broker-dealers. Under these rules, these companies will be required to create and retain fundamental business records to document and track their operations, facilitating the Commission’s ability to monitor compliance and reducing risk to the market.
These rules address seven key areas:
• Theyestablishrecordmakingrequirementsfor security-based swap dealers (SBSDs) and major security-based swap participants (MSBSPs) and amend the existing record making requirements for broker-dealers to account for their security-based swap activities.
• They establish record preservationrequirements for SBSDs and MSBSPs and amend the existing record preservation requirements for broker-dealers to address records relating to their security-based swap activities.
• They establish periodic reporting andannual audit requirements for SBSDs and MSBSPs and amend the existing reporting requirements for broker-dealers to account for their security-based swap activities.
• They establish early warning notificationrequirements for SBSDs and MSBSPs.
• They establish security count requirements
for SBSDs that are not registered as broker-dealers and do not have a prudential regulator (stand-alone SBSDs).
• They amend the Commission’s existingcross-border rule to provide a means to request substituted compliance with respect to the recordkeeping and reporting requirements for SBSDs and MSBSPs.
• They amend a rule that permits certainSBSDs that are registered as swap dealers and predominantly engage in a swaps business to comply with CFTC requirements in lieu of Commission requirements. The amendment adds the recordkeeping and reporting requirements being adopted today to this alternative compliance mechanism.
Source : https : //www.sec .gov/news/press-release/2019-182
2. SEC Proposes Rules to Update Statistical Disclosures for Banking Registrants
The Securities and Exchange Commission (SEC) proposed rules to update the statistical disclosures that bank and savings and loan registrants provide to investors, and eliminate disclosures that overlap with Commission rules, U.S. GAAP or IFRS. The proposed rules would replace Industry Guide 3, Statistical Disclosure by Bank Holding Companies, with updated disclosure in a new subpart of Regulation S-K.
The proposal will have a 60-day public comment period following its publication in the Federal Register.
The proposed rules would apply to bank holding companies, banks, savings and loan holding companies, and savings and loan associations (“banking and savings and loan registrants”).
The Commission’s proposed rules would require disclosure about the following:
• Distribution of assets, liabilities andstockholders’ equity, the related interest
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income and expense, and interest rates and interest differential;
• Weighted average yield of investments indebt securities by maturity;
• Maturity analysis of the loan portfolioincluding the amounts that have predeterminedinterestratesandfloatingoradjustable interest rates;
• An allocation of the allowance for creditlosses and certain credit ratios; and
• Informationaboutbankdeposits includingamounts that are uninsured.
Source : https : / /www.sec .gov/news/press-release/2019-179
3. SEC Proposes Amendments to Enhance Retail Investor Protections
The Securities and Exchange Commission (SEC) voted to propose amendments to Exchange Act Rule 15c2-11, which sets out certain requirements with which a broker-dealer must comply before it can publish quotations for securities in the over-the-counter (“OTC”) market. The proposed amendments are designed to modernize the Rule, which was last substantively amended in 1991, and to enhance investor protection by requiring that current and publicly available issuer information is accessible to investors. The proposed amendments would provide greater transparency to the investing public by requiring that information about the issuer and the security be current and publicly available before a broker-dealer can begin quoting that security.
Securities that trade on the OTC market are primarily owned by retail investors. Because broker-dealers play an integral role in facilitating investor access to OTC securities and serve an important gatekeeper function under Rule 15c2-11, the Rule requires that a broker-dealer review basic information about an issuer before quoting securities to investors in the OTC market. Certain of the Rule’s exceptions, however, permit broker-dealers to continue to publish quotations when there is no current information about the issuer available to the public or the broker-dealer. The
Commission is concerned that, in today’s OTC market, market participants can take advantage of these exceptions to the detriment of retail investors.
Therefore, the Commission is proposing to limit eligibility for some of the exceptions where an issuer’s information becomes unavailable to the public or is no longer current. The proposed amendments would also add new exceptions for broker-dealers quoting certain OTC securities that may be less susceptible to fraud or manipulation.
The proposed amendments contribute to the Commission’s ongoing efforts to better address risks to investors, particularly retail investors. The Commission believes that investors who have access to current and publicly available issuer information are better equipped to make informed decisions about how to allocate their capital.
Source : https://www.sec.gov/news/press-re-lease/2019-189
4. SEC Adopts New Rule to Modernize Regulation of Exchange-Traded Funds
The Securities and Exchange Commission (SEC) voted to adopt a new rule and form amendments that are designed to modernize the regulation of exchange-traded funds (ETFs), by establishing a clear and consistent framework for the vast majority of ETFs operating today. The adoption will facilitate greater competition and innovation in the ETF marketplace, leading to more choice for investors. It also will allow ETFs to come to market more quickly without the time or expense of applying for individual exemptive relief. In addition, the Commission voted to issue an exemptive order that further harmonizes related relief for broker-dealers.
ETFs are hybrid investment products not originally allowed under the U.S. securities laws. Their shares trade on an exchange like a stock or closed-end fund, but they also allow identified largeinstitutions to transact directly with the fund. Since 1992, the Commission has issued more than 300 exemptive orders allowing ETFs to operate under the Investment Company Act. ETFs have grown substantially in that period, and today there are
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accounts or portfolios, as well as the regulator’s role in supervision and enforcement. The Report includes several findings and observations fromthe Thematic Review, including for instance, that most jurisdictions have standards for how to treat customers fairly and for addressing conflicts of interest. In addition, the majority of jurisdictions require intermediaries to distinguish between complex and non-complex products despite the fact that what constitutes a complex financialproduct differs among jurisdictions. Notably, none of the participating jurisdictions reported havingasuitabilityregimespecificallyforcomplexproducts. The Report found that with respect to customer classification, most jurisdictionsallow intermediaries to classify certain types of customers as “non-retail” (or its equivalent), based onthenatureof theentityorspecifiedmonetarythresholds alone. However, these practices do not consider the complexity and riskiness of different products, as required by the Principles. The review also found that FinTech developments related to digital advisors and online platforms have created new suitability-related challenges. In light of the findings and observations, the Report indicatesthat jurisdictions must have effective supervisory and enforcement mechanisms to support suitability regimes for complex products and to ensure that intermediaries take corrective action where their behavior falls short of supervisory or regulatory expectations. The Report also urges jurisdictions to consider enhancing disclosure requirements to help customers make informed investment decisions and understand the advice they receive from intermediaries. IOSCO will continue conducting other Thematic Reviews on topics that are relevant for achieving the organization’s objectives, including investor protection
Source : https://www.iosco.org/news/pdf/IOSCONEWS544.pdf
6. Financial Services Commission (FSC) proposes measures to boost Venture Capital Investment
FSC unveiled measures to boost venture capital investment in innovative business at a meeting with executives from securities, asset management and
approximately 2,000 ETFs with over $3.3 trillion in total net assets. Investors use ETFs for a variety of purposes, including core components of long-term investment portfolios, investment of temporary cash holdings, and for hedging portfolios.
ETFs relying on the rule and related exemptive order will have to comply with certain conditions designed to protect investors, including conditions regarding transparency and disclosure. To help create a consistent ETF regulatory framework, one year after the effective date of the rule, the Commission is rescinding exemptive relief previously granted to certain ETFs, including those that will be permitted to operate in reliance on the rule. The rule and form amendments will be effective 60 days after publication in the Federal Register, but there will be a one-year transition period for compliance with the form amendments.
Source : https://www.sec.gov/news/press-re-lease/2019-190
5. IOSCO reviews member efforts to deter mis-sellingof complexfinancialproducts
IOSCO published a Thematic Review report (Report) indicating that most of the participating jurisdictions have implemented the necessary rules aimed at preventing the misselling of complex financial products, consistent with IOSCOstandards. The Thematic Review was conducted by the IOSCO Assessment Committee (AC), with the participation of 29 IOSCO members from both developed and emerging market jurisdictions. A Thematic Review offers a snapshot of implementation of IOSCO Principles, which enables the AC to identify gaps in implementation and examples of good practice. The AC reviewed implementation of the nine Principles set out in the 2013 IOSCO report Suitability Requirements with respect to the Distribution of Complex Financial Products. The nine Principles are aimed at promoting robust customer protection by preventing the misselling of complex financialproducts. The Principles focus on the application of suitability and related disclosure requirements to intermediary services, including selling, advising, recommending and managing discretionary
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venture capital companies. The measures include the introduction of a Business Development Company (BDC) and diversification of fundraising channels with exclusive private offerings for professional investors and small-scale public offerings.
Proposed Measures
INTRODUCTION OF BUSINESS DEVELOPMENT COMPANY (BDC):
Business Development Company (BDC) is a collective investment vehicle which raises funds frominvestorstobelistedontheKRXandtheninvest in unlisted companies.
The BCD is required to invest more than 60 per centof its total assets inunlisted,KONEX-listed, KOSDAQ-listed companies (whose market capitalization of less than KRW200 billion) or SME & venture investment funds.
Securities, asset management and venture capital companies that meet certain requirements1will be granted a license to operate a BDC.
The minimum capital of KRW20 billion is required to establish a BDC. The operator of a BDC is required to hold 5 per cent or more of its total equity investment.
The BDC is allowed to leverage up to 100 per cent of its net assets, increase capital and provide management advisory services.
DIVERSIFICATION OF FUNDRAISING CHANNELS:
Private offering channels will be expanded with a new track exclusive for professional investors, which allows to attract subscribers through public recommendation and general advertisement.
The maximum amount of fundraising via a small public offering, currently KRW1 billion, will be increased to KRW3 billion in Tier 1 and KRW10 billion in Tier 2.For Tier 2, additional investor protection measures will be required (e.g. investment cap for general investors, reporting and public disclosure requirements, etc. )
Source : http://meng.fsc .go.kr/common/pd-
fjs/web/viewer.html?file=/upload/press1/20190927154810_82e66f99.pdf
7. CFTC Charges Former Floor Broker with Misappropriating Client Funds, Registration Violations, and Making False Statements
The U.S. Commodity Futures Trading Commission issuedanorderfilingandsettlingchargesagainstCoby Tresner of Andover, Kansas, for failing to register with the CFTC as an associated person and as a commodity trading advisor as required, misappropriating client funds, and making false or misleading statements to the CFTC during its investigation into his misconduct.
The order requires Tresner to pay a $250,000 civil monetary penalty to the CFTC as well as restitution to clients whose funds he misappropriated. The order also permanently bans Tresner from trading on or subject to the rules of any CFTC-registered exchange or other CFTC-registered entity. In addition, the order permanently prohibits Tresner from entering into any transactions involving commodity interests, on behalf of himself or others, and from applying for registration with the CFTC, among other prohibitions.
The order covers Tresner’s conduct during various periods of time between December 2014 and July 2018. The order finds that Tresner solicited andreceived funds from clients to trade cattle futures on their behalf, but instead of using the funds for trading, Tresner misappropriated the funds and used them to pay personal debts and living expenses.
The order also finds that Tresner solicited andaccepted orders for futures contracts from customers of a registered introducing broker when he was not registered as required with the CFTC asanassociatedpersonof thatfirmorasafloorbroker. The order further states that Tresner acted, and held himself out to the public, as a commodity trading advisor when he was not registered as such with the Commission.
Finally,theorderfindsthatTresner,inresponsetoasubpoena and in an interview, knowingly provided misleading information to CFTC staff by failing to
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identify all persons or entities from whom he had obtained funds to trade cattle futures.
Source : https://www.cftc.gov/PressRoom/Press-Releases/8027-19
8. CFTC Orders Chicago Trading Firm and Its Co-Founder to Pay $2.5 Million in Penalties for SpoofingandManipulativeTradingScheme
The U.S. Commodity Futures Trading Commission announced today the filing and settling of enforcement actions against Hard Eight Futures, LLC and Igor Chernomzav for spoofing –bidding or offering with the intent to cancel the bid or offer before execution – and for engaging in a manipulative and deceptive trading scheme. Hard Eight is a proprietary trading firm locatedin Chicago, Illinois. Chernomzav is a founder, partner of, and trader for, Hard Eight, and resides in Monsey, New York.
“This case is about maintaining fair markets,” said CFTC Director of Enforcement James McDonald. “Market integrity in today’s electronically traded markets starts with making sure bids and offers represent real buying and selling interest, not fake order flow intended to manipulate other marketparticipants.”
The orders require Hard Eight and Chernomzav to
pay civil monetary penalties of $1.75 million and $750,000, respectively, for total penalties of $2.5 million. In addition, Chernomzav is barred from trading in any market regulated by the CFTC for a period of nine months.
The orders state that from March 2014 through March 2015, Chernomzav placed bids and offers for E-mini futures contracts on Globex, the CME’s electronic trading platform, with the intent to cancel those orders before execution. At the time Chernomzav placed and cancelled the orders, they constituted a substantial percentage of the best bid or offer.
TheCFTCordersfindthatChernomzavplacedtheorders to create a false impressionof significantbuying or selling interest. Chernomzav used this false impression of buying or selling interest, or the sudden and dramatic removal thereof, to induce other market participants to transact with orders that he wanted to be executed at prices or in quantities favorable to him.
Chernomzav engaged in this conduct on more than a thousand occasions between March 2014 and March 2015.
Source : https://www.cftc.gov/PressRoom/Press-Releases/8024-19
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POLICY DEVELOPMENTS1. Schemes of Arrangement by Listed Entities
and (ii) Relaxation under Sub-rule (7) of rule 19 of the Securities Contracts (Regulation) Rules, 1957
SEBI asked listed companies to settle their outstanding dues of SEBI, stock exchanges and depositoriesbeforefiling‘schemesof arrangement’such as mergers and demergers with the exchanges.
Source : SEBI/HO/CFD/DIL1/CIR/P/ 2019/ 192 dated September 12, 2019
2. Additional commodities as Eligible Liquid Assets for Commodity Derivatives Segment
SEBI said that “Considering the introduction of compulsory delivery-based diamond and base metal derivatives contracts and feedback received from the stakeholders, it has been decided to include diamond, base metals and alloys in the list of permissible liquid assets”.
This is subject to minimum applicable haircut and concentration limits, which clearing corporations may accept. The minimum applicable haircut is 40 per cent for diamond and 30 per cent for base metals and alloys. Besides, it also mentioned that the minimum haircut stipulated for steel stands revised to 30 per cent from the current applicable level of 60 per cent since steel is an alloy.
Source : SEBI/HO/CDMRD/DRMP/CIR/P/ 2019/100 dated September 13, 2019
3. Risk management framework for liquid and overnight funds and norms governing investment in short term deposits
The SEBI circular said, “Liquid assets shall include cash, government securities, T-bills and repo on government securities. In case, the exposure in such liquid assets falls below 20per cent of net assets of the scheme, the asset management company (AMC) shall ensure compliance with the above requirement before making any further
investments”. This provision will come into effect from April 1, 2020.
Source : S E B I / H O / I M D / D F 2 / C I R / P / 2019/101 dated September 20, 2019
4. Valuation of money market and debt securities
SEBI has made changes to the valuation matrix of money market and debt securities. In this circular, to bring in consistency in valuation, SEBI said a money market or debt security shall be considered as traded when, on the date of valuation, there are trades (in marketable lots) in that security on any recognised stock exchange or there are trades reported (in marketable lots) on the trade reporting platform of recognised stock exchanges or the clearing corporation. In this regard, the marketable lots shall be defined by AMFI, themutual fundbody, in consultation with SEBI.
Source : SEBI/HO/IMD/DF2/CIR/P/2019/ 102 dated September 24, 2019
5. Position Limits in Interest Rate Derivatives (IRD)
SEBI revised the position limits for interest rate derivatives falling in the 8-11 years maturity bucket. The decision to review the position limit has been taken after consulting stock exchanges, SEBI said in this circular.
SEBI said position limits for the 8-11 year maturity bucket would be 10 per cent of open interest or Rs 1,200 crore, whichever is higher, for trading members, banks, primary dealers, insurance companies, pension funds and housing financecompanies.
Source : SEBI/HO/MRD/CIR/P/2019/103 dated September 26, 2019
Disclaimer: The summary has been prepared for the conve-nience of readers. In case of any ambiguity, please refer to the original circular.
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REGULATORY ACTION TAKEN BY SEBI• SEBI passed an order, dated 11 September 2019,
in the matter of Religare Enterprises Limited (REL) directing REL and Religare Finvest Limited to continue with the steps to recall the loans, amounting to Rs. 2065.09 Crores (approx.) extended, either directly or indirectly to other notices along with due interest. Platinum Infrastructure Pvt. Ltd. and others were directed not to dispose of or alienate any of their assets or divert any funds, except for meeting expenses of day-to-day business operations, without the prior permission of SEBI.
• SEBI passed an order, dated 13 September 2019, in the matter of Datsons Labs Ltd. (formerly known as Aanjaneya Lifecare Ltd.) restraining Kashi Vishwanathan and others from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities market, directly or indirectly in any manner, for various time periods. They were further restrained from associating themselves with any public listed company and/or any public company which intends to raise money from the public, and were further restrained from holding or occupying position as Director or any Key Managerial personnel in any other listed company or any registered intermediaries.
• SEBI passed an order, dated 17 September 2019, in the matter of CG Power and Industrial Solutions Limited restraining Gautam Thapar, V. R. Venkatesh, Madhav Acharya and B. Hariharan from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further orders. There were further restrained from being associated with any intermediary registered with SEBI or any listed entity or its material unlisted subsidiary. Avantha Holdings Limited, Acton Global Private Limited and Solaris Industrial Chemicals Limited were directed to retain funds/other assets to the extent of receivables shown as outstanding to CG Power and Industrial Solutions Limited.
• SEBI passed an order, dated 18 September 2019, in respect of Nirmal Kotecha in the matter of
Usher Agro Limited restraining Nirmal Kotecha from accessing the securities market and further prohibiting from buying, selling or otherwise dealing in securities, directly or indirectly, or shall not associate with the securities market in any manner, whatsoever, for a period of two years for the violation of Regulations 3 (a), (b), (c), (d) and 4 (1), 4 (2) (a) of PFUTP Regulations, Regulation 7(1) of the SAST Regulations and Regulation 13(1) of the PIT Regulations.
• SEBI passed an order, dated 30 September 2019, in the matter of delisting of equity shares of U.P. hotels ltd granting U.P. Hotels Ltd., providing relaxation from the applicability of regulation 8(1B)(i) (limited to the extent of compliance with minimum public shareholding norms) for the specificpurposeof seekingvoluntarydelistingof itsequitysharessubjecttospecifiedconditions.
• SEBI passed an order, dated 30 September 2019, in the matter of M/s. Chromatic India Limited restraining the Company from accessing the Securities Market including by issuing prospectus, offer document or advertisement soliciting money from the public and is further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly in any manner, for a period of fiveyears(05)fromthedateof thisorder.Further,Mr. Vinod Kumar Kaushik, Mr. Vipin Sharma, Mr. Ajay Sethi are restrained from accessing the Securities Market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly in any manner, for three and one year each respectively from the date of this order.
• SEBI passed an order, dated 30 September 2019, in the matter of Vas Infrastructure Limited directing Vasparr Shelter Limited and others to make a public announcement to acquire shares of the target company, within a period of 45 days from the date of the order and shall along with the offer price, pay interest at the rate of 10per cent per annum, for the period starting from the date when they incurred the liability to make the public announcement and till the date of payment of consideration, to the shareholders who were
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holding shares in the target company on the date of violation and whose shares are accepted in the open offer, after adjustment of dividend paid, if any.
• SEBI passed an order, dated 30 September 2019, in the matter of Deep Industries Ltd issuing directions for Mr. Rupeshbhai Kantilal Savla to disgorge the amount of wrongful gain amounting to `1,74,57,816, as computed in the interim order qua the Noticee and lying deposited in the escrow account and shall be restrained from accessing the securities market and further prohibited 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 six months for the alleged violations of Regulation 4(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 and Sections 12A(d) and (e) of the SEBI Act, 1992.
• SEBI passed an order, dated 30 September 2019, in the matter of Sumeet Industries Limited in respect of Somani Overseas Limited and others directing them to disgorge the amounts of wrongful gains against each of them, along with interest @12per cent per annum from March 12, 2007 till the date of payment, to be calculated by excluding the period from order of Hon’ble SAT, i.e., June 30, 2016 till the date of present order. The Banks and Depositories with whom they hold accounts and demat accounts, are directed that no debit shall be made, without permission of SEBI, in respect of their respective bank/demat accounts except for the purposes of compliance of this order; and they are also directed not to dispose of or alienate any of their assets/ properties/ securities, till such time the direction of this order is complied with. Further, they are directed to provide, within 15 days of this order, a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/ securities, if held in physical form and details of companies in which they hold substantial or controlling interest.
• SEBIpassedanorder,dated09September2019,in the matter of Trading in Illiquid Stock Options imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Nihalchand G. Kasliwal for
the violation of Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations.
• SEBI passed an order, dated 09 September 2019, in the matter of Cerebra Integrated Technologies Limited imposing a total penalty of Rs 6,00,000 (Rupees Six Lakh Only) on SRU Securities Limited for the violation of regulation 3 (a), (b), (c), (d) and regulations 4(1), 4(2) (a) and (e) of PFUTP Regulations, and clause A (1), (2) and D (4) of the Code of Conduct for Sub-Brokers provided in Schedule II read with regulation 15 of broker Regulations.
• SEBI passed an order, dated 12 September 2019, in the matter of Bank of Rajasthan imposing a total penalty of Rs 12,00,000 (Rupees Twelve Lakh Only) on ICICI Bank Ltd and Sandeep Batra for the violation of Regulation 12 (2) of PIT Regulations, 1992 read with Regulation 12 of PIT Regulations, 2015, Clause 36 of the equity listing agreement read with Section 21 of the SCRA.
• SEBI passed an order, dated 12 September 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 Sai Ram Services for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 12 September 2019, in the matter of dealings in illiquid stock options at Bombay Stock Exchange Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on GCM Capital Advisors Ltd for the violation of Regulations 3 (a), (b), (c), (d) and 4 (1), 4 (2) (a) of PFUTP Regulations.
• SEBI passed an order, dated 13 September 2019, in the matter of its dealings in illiquid stock options at the BSE Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Dowell Fiscal Services Private Limited for the violation of Regulations 3 (a), (b), (c), (d) and 4 (1), 4 (2) (a) of PFUTP Regulations.
• SEBI passed an order, dated 13 September 2019, in the matter of its dealings in illiquid stock options at the BSE Limited imposing a total penalty of Rs 7,00,000 (Rupees Seven Lakh Only) on Sarwottam Ispat Limited for the violation of Regulations 3(a),
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(b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 16 September 2019, in the matter of dealing in illiquid stock option at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Ajeit P S Rajbans HUF for the violation of Regulation 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 16 September 2019, in the matter of dealing in illiquid stock option at BSE imposing a total penalty of Rs 14,20,000 (Rupees Fourteen Lakh Twenty Thousand Only) on Akashganga Agencies Pvt Ltd for the violation of Regulation 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 17 September 2019, in the matter of Onward Technologies Limited imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Desai Finwealth Investments Securities Private Limited for the violation of Regulation 13(4A) read with Regulation 13(5) of PIT Regulations.
• SEBI passed an order, dated 18 September 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 A S Advertisers for the violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 18 September 2019, in the matter of Infrastructure Leasing & Financial Services Limited imposing a total penalty of Rs 10,00,000 (Rupees Ten Lakh Only) on Infrastructure Leasing & Financial Services Limited for the violation of Clause A (14) (b), Clause A (16) of Part B of Schedule III read with regulation 51 of the LODR Regulations, section 21 of the SCRA and section 11A (2) of the SEBI Act.
• SEBI passed an order, dated 18 September 2019, in the matter of R. T. Exports Limited imposing a total penalty of Rs 35,00,000 (Rupees Thirty Five Lakh Only) on Bhavik Bhimjyani and others for the violation of regulation 23(4) and regulation 23(7) of LODR Regulations.
• SEBI passed an order, dated 19 September 2019, in the matter of dealings in illiquid stock options at Bombay Stock Exchange Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Geo Fresh Organic for the violation of Regulations 3 (a), (b), (c), (d) and 4 (1), 4 (2) (a) of PFUTP Regulations.
• SEBI passed an order, dated 20 September 2019, in the matter of Illiquid Stock Options at BSE imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Atul Singal for the violation of Regulation 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 23 September 2019, in the matter of non redressal of investor grievances and non updation of ATR on SCORES imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Nihon Nirman Limited for failure to redressthegrievanceandforfilingtheATRwithSEBI.
• SEBI passed an order, dated 23 September 2019, in the matter of non redressal of investor grievances and non updation of ATR on SCORES imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Neelkanth Motels and Hotels Limited for non redressal of investor grievances and non updation of ATR on SCORES.
• SEBI passed an order, dated 23 September 2019, in the matter of Aurobindo Pharma Ltd. imposing a total penalty of Rs 22,70,00,000 (Rupees Twenty Two Crore Seventy Lakh Only) on PV Ramprasad Reddy and others for the violation of Regulations 3 and 4 of PIT Regulations, Clause 36 of the Equity Listing Agreement read with Section 21 of the SCRA and Regulation 12 (1) read with Clause 3.2.1 of Schedule I of the PIT Regulations, 1992, regulation 12 (2) of the PIT Regulations, 2015 and Regulation 12 (2) read with Clause 2.1 of Schedule II of the PIT Regulations, 1992 and Regulation 12 (2) of the PIT Regulations 2015.
• SEBI passed an order, dated 23 September 2019, in the matter of Ujaas Energy Ltd. imposing a total penalty of Rs 6,00,000 (Rupees Six Lakh Only) on Ujaas Energy Ltd. and others for failure to comply with the relevant provisions of ICDR Regulations.
OCTOBER 2019 SEBI BULLETIN 2019
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• SEBI passed an order, dated 23 September 2019, in respect of Kanchan Udyog Limited imposing a total penalty of Rs 1,00,000 (Rupees One Lakh Only) on Kanchan Udyog Limited for failure to comply with the SEBI circular dated April 17, 2013.
• SEBI passed an order, dated 24 September 2019, in the matter of Trading in Illiquid Stock Options imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Ocean International for the violation of Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations.
• SEBI passed an order, dated 24 September 2019, in respect of Synergy Infrastructure Ltd imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Synergy Infrastructure Ltd for its failure to comply with the disclosure requirement under Regulation 8(3) of the SAST Regulations.
• SEBI passed an order, dated 24 September 2019, in the matter of Trading in Illiquid Stock Options imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Meenakshi Bright Steel Pvt. Ltd for the violation of Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations.
• SEBI passed an order, dated 24 September 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 Ranmak Works Pvt. Ltd. for the violation of regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations.
• SEBI passed an order, dated 25 September 2019, against Kshitish Trading Co Ltd. imposing a total penalty of Rs 1,00,000 (Rupees One Lakh Only) on Kshitish Trading Co Ltd for the violation of failed to comply with the SEBI Circulars for obtaining SCORES authentication.
• SEBI passed an order, dated 25 September 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 Universal Enterprises Ltd for the violation of Regulations 3 (a), (b), (c), (d) and 4 (1), 4 (2) (a) of PFUTP Regulations.
• SEBI passed an order, dated 25 September 2019, in the matter of SMC Global Securities Ltd.
imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on SMC Global Securities Ltd. for the violation of Regulation 9(f) read with Clause A (2) of the Code of Conduct as specified inSchedule II of the SBSB Regulations.
• SEBI passed an order, dated 25 September 2019, against Kumi Agro Industries Ltd. imposing a total penalty of Rs 1,00,000 (Rupees One Lakh Only) for its failure to comply with the SEBI Circulars for obtaining SCORES authentication.
• SEBI passed an order, dated 26 September 2019, Order against Konark Properties Ltd. imposing a total penalty of Rs 1,00,000 (Rupees One Lakh Only) on Konark Properties Ltd. for its failure to obtain SCORES Authentication.
• SEBI passed an order, dated 26 September 2019, in the matter of Hero Motocorp Ltd. imposing a total penalty of Rs 9,00,000 (Rupees Nine Lakh Only) on Ilam C Kamboj and Alka Kamboj for the violation of provisions of Para 3.2.2, 3.3, 4.2 and 5 of Code of Conduct given in Part A of Schedule 1 read with Regulation 12 (1) of PIT Regulations, provisions of Regulation 7(2)(a) read with regulation 6(2) of PIT Regulations 2015 and provisions of Clause 10 of Code of Conduct given in Schedule B under Regulation 9 of PIT Regulations 2015.
• SEBI passed an order, dated 26 September 2019, in respect of Toheal Pharmachem Limited imposing a total penalty of Rs 3,00,000 (Rupees Three Lakh Only) on Toheal Pharmachem Limited for the violation of provisions of SEBI Circulars No. CIR/OIAE/2/2011 dated June 03, 2011, CIR/OIAE/1/2012 dated August 13, 2012 and CIR/OIAE/1/2013 dated April 17, 2013 relating to timely redressal of investor grievances.
• SEBI passed an order, dated 26 September 2019, in respect of Odyssey Corporation Limited imposing a total penalty of Rs 1,00,000 (Rupees One Lakh Only) on Odyssey Corporation Limited for the violation of Regulation 13(3) of PIT Regulations and Regulation 29(2) read with Regulation 29(3) of SAST Regulations.
• SEBI passed an order, dated 26 September 2019, in the matter of Onward Technologies
OCTOBER 2019 SEBI BULLETIN 2019
834
Limited imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Onward Network Technologies Private Limited for its failure to make required disclosures in terms of Regulation 13(4A) and Regulation 13(5) of PIT Regulations.
• SEBI passed an order, dated 26 September 2019, in the matter of dealings in illiquid stock options at Bombay Stock Exchange Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Gian Finance Limited for the violation of Regulations 3 (a), (b), (c), (d) and 4 (1), 4 (2) (a) of PFUTP Regulations.
• SEBI passed an order, dated 27 September 2019, in respect of Kedia Industries Limited imposing a total penalty of Rs 1,00,000 (Rupees One Lakh Only) on Kedia Industries Limited for the violation of Circular No. CIR/OIAE/1/2013 dated April 17, 2013.
• SEBI passed an order, dated 27 September 2019, in the matter of Ybrant Digital Limited imposing a total penalty of Rs 8,00,000 (Rupees Eight Lakh Only) on Mundi Enterprise Limited for the violation of regulations 13(4A) r/w 13(5) of PIT Regulations.
• SEBI passed an order, dated 27 September 2019, in the matter of Ybrant Digital Limited imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Probus Capital Limited for the violation of regulations 13(4A) r/w 13(5) of PIT Regulations.
• SEBI passed an order, dated 27 September 2019, in the matter of Ybrant Digital Limited imposing a total penalty of Rs 3,00,000 (Rupees Three Lakh Only) on Karusala Venkata Subbarao for the violation of regulations 13(4A) r/w 13(5) of PIT Regulations.
• SEBI passed an order, dated 27 September 2019, in respect of Prrsaar Commodities Private Limited imposing a total penalty of Rs 5,00,000 (Rupees Five Lakh Only) on Prrsaar Commodities Private Limited for the violation of Section 23D of SCRA read with the provisions of SEBI Circular no. SMD/SED/CIR/93/23321 dated November 18, 1993.
• SEBI passed an order, dated 27 September 2019, in the matter of Modern Cement Industries Limited imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Modern Cement Industries Limited for the violation of Circulars dated June 03, 2011, August 13, 2012 and April 17, 2013.
• SEBI passed an order, dated 27 September 2019, in the matter of Som Distilleries and Breweries Limited imposing a total penalty of Rs 12,00,000 (Rupees Twelve Lakh Only) on Jagdish Kumar Arora and Som Distilleries Private Limited for the violation of Regulation 13(4A) read with 13(5) of the PIT Regulations.
• SEBI passed an order, dated 27 September 2019, in the matter of Som Distilleries and Breweries Limited imposing a total penalty of Rs 2,00,000 (Rupees Two Lakh Only) on Aalok Deep Finance Pvt. Ltd. for the violation of Regulation 13(2A) of the PIT Regulations.
• SEBI passed an order, dated 30 September 2019, in the matter of Regaliaa Realty Limited imposing a total penalty of Rs 4, 00,000 (Rupees Four Lakh Only) on D Sudhakara Reddy and D Deeptha Reddy for violation of Regulations 13(3), (4) (4A) read with 13(5) of the PIT Regulations and violation of Regulation 31(2) read with 31(3) of the SAST Regulations.
• SEBI passed an order, dated 30 September 2019, in the matter of Trading Activities of Certain Entities in the Scrip of Pawansut Holdings Limited imposing a total penalty of Rs 15,00,000 (Rupees Fifteen Lakh Only) on Mr. Laxman Singh Satyapal under section 15A(b) of the SEBI Act, 1992 for the violation of the provisions of Regulation 13(4) and 13(4A) read with Regulation 13(5) of SEBI (PIT) Regulations, 1992 and Regulation 29(2) read with Regulation 29(3) of SEBI (SAST) Regulations, 2011.
• SEBI passed an order, dated 30 September 2019, imposed a total penalty of Rs 1,00,000 (Rupees One Lakh only) on M/s Global Cements Limited (previously known as M/s HMP Cements Limited) for the violation of the Circular No. CIR/OIAE/1/2013 dated April 17, 2013 by failing to obtain SCORES Authentication within 30 days
OCTOBER 2019 SEBI BULLETIN 2019
835
from the date of issuance of the said Circular.
• SEBI passed an order, dated 30 September 2019, in the matter of Channel Guide (India) Ltd. (Now known as Iris Mediaworks Ltd.) imposing a total penalty of Rs 41,00,000 (Rupees Forty One Lakh Only) on Manish Rathi and others for violation of various provisions of SEBI PFUTP Regulations, 2003 and provisions of SEBI Act.
• SEBI passed an order, dated 30 September 2019, in the matter of Golden Legand Leasing & Finance Limited imposing a total penalty of Rs 7,00,000 (Rupees Seven Lakh Only) on Ever Bright Trading Private Limited and others for violation of Regulation 3 (a), (b), (c), (d) and 4(1), 4(2)(a) & (e) of the PFUTP Regulations.
• SEBI passed an order, dated 30 September 2019, in the matter of Onward Technologies Limited imposing a total penalty of Rs.2,00,000 (Rupees Two Lakh only) on Harish Shantilal Mehta for the violation of Regulations 13(4), 13(4A) read with Regulation 13(5) of PIT Regulations.
• SEBI passed an order, dated 30 September 2019, in the matter of Trading Activities of Certain Entities in the Scrip of Pawansut Holdings Limited imposing a total penalty of Rs Rs.16, 00,000
(Rupees Sixteen Lakh Only) on Meera Mishra for the violation of the provisions of Regulation 13(4A) read with Regulation 13(5) of SEBI (PIT) Regulations, and Regulation 29(2) read with Regulation 29(3) of SEBI (SAST) Regulations.
• SEBI passed an order, dated 30 September 2019, in the matter of Kailash Auto Finance Limited imposing a total penalty of Rs 28,00,000 (Rupees Twenty Eight Lakh Only) on Bholebaba Suppliers Private Limited and others for the violation of the provisions of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) & (e) of “PFUTP Regulations” read with section 12A(a), (b) & (c) of the SEBI Act.
• SEBI passed an order, dated 30 September 2019, in the matter of 8K Miles Software Services Ltd imposing a total penalty of Rs. 18,00,000 (Rupees Eighteen Lakh Only) on Vijay Babulal Shah and others for the violation of Regulation 3(a), (b), (c),(d) and 4(1),4(2)(a) & (e) of the PFUTP Regulations.
Note: The information provided above is indicative only. For details, please log on to
http://www.sebi.gov.in/sebiweb/home/list/2/9/0/1/Orders
Disclaimer: The summary has been prepared for the convenience of readers. In case of any ambiguity, please refer to the original order.
OCTOBER 2019 SEBI BULLETIN 2019
836
TablesTable 1 : SEBI Registered Market Intermediaries/InstitutionsTable 2 : Company-Wise Capital Raised through Public and Rights Issues (Equity) during Sept 2019Table 3 : Open Offers under SEBI Takeover Code closed during Sept 2019Table 4 : Substantial Acquisition of Shares and TakeoversTable 5 : Capital Raised from the Primary Market through Public and Rights IssuesTable 6 : Issues Listed on SME PlatformTable7:Industry-wiseClassificationof CapitalRaisedthroughPublicandRightsIssues(Equity)Table 8 : Sector-wise and Region-wise Distribution of Capital Mobilised through Public and Rights Issues (Equity)Table9:Size-wiseClassificationof CapitalRaisedthroughPublicandRightsIssues(Equity)Table 10 : Capital Raised by Listed Companies from the Primary Market through QIPsTable 11 : Preferential Allotments Listed at BSE and NSETable 12 : Private Placement of Corporate Debt Reported to BSE and NSETable 13 : Trading in the Corporate Debt MarketTable14:RatingsAssignedforLong-termCorporateDebtSecurities(Maturity≥1year)Table15:Reviewof AcceptedRatingsof CorporateDebtSecurities(Maturity≥1year)Table 16 : Distribution of Turnover on Cash Segments (`crore)Table 17 : Trends in Cash Segment of BSETable 18 : Trends in Cash Segment of NSETable 19 : Trends in Cash Segment of MSEITable 20 : City-wise Distribution of Turnover on Cash SegmentsTable 21 : Category-wise Share of Turnover in Cash Segment of BSETable 22 : Category-wise Share of Turnover in Cash Segment of NSETable 23 : Category-wise Share of Turnover in Cash Segment of MSEITable 24 : Component Stocks: S&P BSE Sensex during Sept 2019Table 25 : Component Stocks: Nifty 50 Index during Sept 2019Table26:ComponentStocks:SX40IndexdurinhSept2019Table 27 : Advances/Declines in Cash Segment of BSE, NSE and MSEITable 28 : Trading Frequency in Cash Segment of BSE, NSE and MSEITable 29 : Daily Volatility of Major Indices (Per cent)Table 30 : Per centage Share of Top ‘N’ Securities/Members in Turnover of Cash Segment (Per cent)Table 31 : Settlement Statistics for Cash Segment of ICCLTable 32 : Settlement Statistics for Cash Segment of NSCCLTable 33 : Settlement Statistics for Cash Segment of MCCILTable 34 : Trends in Equity Derivatives Segment at BSE (Turnover in Notional Value)Table 35 : Trends in Equity Derivatives Segment at NSE (Turnover in Notional Value)Table 36 : Settlement Statistics in Equity Derivatives Segment at ICCL and NSCCL (` crore)Table 37 : Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of BSETable 38 : Category-wise Share of Turnover & Open Interest in Equity Derivative Segment of NSE
OCTOBER 2019 SEBI BULLETIN 2019
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Table 39 : Instrument-wise Turnover in Index Derivatives at BSETable 40 : Instrument-wise Turnover in Index Derivatives at NSETable 41 : Trends in Currency Derivatives Segment at BSETable 42 : Trends in Currency Derivatives Segment at NSETable 43 : Trends in Currency Derivatives Segment at MSEITable 44 : Settlement Statistics of Currency Derivatives Segment (` crore)Table 45 : Instrument-wise Turnover in Currency Derivative Segment of BSETable 46 : Instrument-wise Turnover in Currency Derivatives of NSETable 47 : Instrument-wise Turnover in Currency Derivative Segment of MSEITable 48 : Maturity-wise Turnover in Currency Derivative Segment of BSE (` crore)Table 49 : Maturity-wise Turnover in Currency Derivative Segment of NSE (` crore)Table 50 : Maturity-wise Turnover in Currency Derivative Segment of MSEI (` crore)Table 51 : Trading Statistics of Interest Rate Futures at BSE and NSETable 52 : Settlement Statistics in Interest Rate Futures at BSE and NSE (` crore)Table 53 : Trends in Foreign Portfolio InvestmentTable 54 : Notional Value of Offshore Derivative Instruments (ODIs) compared to Assets Under Custody (AUC) of FPIs/Deemed FPIs (` crore)Table 55 : Assets under the Custody of CustodiansTable 56 : Trends in Resource Mobilization by Mutual Funds (` crore)Table 57 : Status of Mutual Funds Industry in IndiaTable 58 : Trends in Transactions on Stock Exchanges by Mutual Funds (`crore)Table 59 : Assets Under Management by Portfolio ManagersTable 60 : Progress Report of NSDL & CDSL as on end of Sept 2019 (Listed Companies)Table 61 : Progress of Dematerialisation at NSDL and CDSL (Listed and Unlisted Companies)Table 62 : Depository Statistics as on Sept 2019Table 64 : Number of commodities permitted and traded at exchangesTable 65 : Trends in commodity indicesTable66:TrendsincommodityderivativesatMCXTable67:TrendsincommodityderivativesatNCDEXTable68:TrendsincommodityderivativesatICEXTable 69 : Trends in commodity derivatives at BSETable 70 : Trends in commodity derivatives at NSETable71:Participant-wisepercentageshareof turnoveratMCX,NCDEX,ICEX,BSEandNSETable72:Commodity-wisemonthlyturnoverandtradingvolumeatMCXTable73:Commodity-wisemonthlyturnoverandtradingvolumeatNCDEXTable74:Commodity-wisemonthlyturnoverandtradingvolumeatICEX,BSEandNSETable 75 : Macro Economic Indicators
OCTOBER 2019 SEBI BULLETIN 2019
838
Table 1: SEBI Registered Market Intermediaries/Institutions
Market Intermediaries 2018-19 2019-20$
Stock Exchanges (Cash Segment) 5 5
Stock Exchanges (Equity Derivatives Segment) 3 3
Stock Exchanges (Currency Derivatives Segment) 3 3
Stock Exchanges (Commodity Derivatives Segment) 5 5
Brokers (Cash Segment) 2,315 3,689
Brokers (Equity Derivatives Segment) 2,435 2,802
Brokers (Currency Derivatives Segment) 2,110 2,350
Brokers (Debt Segment) 173 243
Brokers (Commodity Derivatives Segment) 1,708 2,281
Clearing Corporations 7 7
Foreign Portfolio Investors (FPIs) 9,390 9,422
Custodians 20 19
Depositories 2 2
Depository Participants (NSDL) 277 287
Depository Participants (CDSL) 598 615
Merchant Bankers 209 215
Bankers to an Issue 66 65
Underwriters 2 2
Debenture Trustees 32 32
Credit Rating Agencies 7 7
KYC Registration Agencies (KRA) 5 5
Registrars to an Issue & Share Transfer Agents 77 78
Venture Capital Funds 190 193
Foreign Venture Capital Investors 248 251
Alternative Investment Funds 532 607
Portfolio Managers 315 352
Mutual Funds 47 45
Investment Advisors 1,131 1,237
Research Analysts 620 664
Infrastructure Investment Trusts (InVIT) 11 10
Collective Investment Schemes 1 1
Approved Intermediaries (Stock Lending Schemes) 2 2Note: $ indicates as on September 30,2019 Source: SEBI, NSDL.
OCTOBER 2019 SEBI BULLETIN 2019
839
Table 2: Company-Wise Capital Raised through Public and Rights Issues (Equity) during Sept 2019
Sl.No.
Name of the Issuer/Company
Date of Opening
Type of Issue
Type of Instrument
No. of Shares Issued
Face Value
(`)
Premi-um Val-ue (`)
Issue Price (`)
Size of Issue (` Crore)
1 Novateor Research Laboratories Limited
04-Sep-19 SME IPO Equity 1872000 10 14 24 4.5
2 Misquita Engineering Limited
25-Sep-19 SME IPO Equity 716000 10 17 27 1.9
3 Galactico Corporate Services Limited
27-Sep-19 SME IPO Equity 1608000 10 13 23 3.7
4 Salasar Exteriors And Contour Limited
03-Sep-19 SME IPO Equity 2361000 10 26 36 8.5
5 Shiv Aum Steels Limited
23-Sep-19 SME IPO Equity 3600000 10 34 44 15.8
Note:AlltheissuesarecompiledfromtheProspectusof IssuerCompaniesfiledwithSEBI. Source: SEBI.
OCTOBER 2019 SEBI BULLETIN 2019
840
Table 3: Open Offers under SEBI Takeover Code closed during Sept 2019 Sl.
No.Target Company Acquirer Offer
Opening Date
Offer Closing Date
Offer Size Offer Price (`) per share
Offer Size
(` Crore)No. of Shares
Per cent of Equity
Capital1 MANVIJAY DE-
VELOPMENT COMPANY LIM-ITED
YATIN SANJAY GUPTE & WARDWIZARD SOLUTIONS INDIA PRIVATE LIMITED
22-Aug-19 5-Sep-19 1684800 26 10.00 1.68
2 AUTHUM IN-VESTMENT & INFRASTRUC-TURE LIMITED
ALPANA. S. DANGI 26-Aug-19 9-Sep-19 6282810 54.5 22.78 14.31
3 KAYCEE INDUS-TRIES LTD
SALZER ELECTRONICS LTD
28-Aug-19 12-Sep-19 16503 26 3475.00 5.73
4 SOBHAGYA MERCANTILE LIMITED
MR. SHRIKANT BHANGDIYA, MRS. AARTI SHRIKANT BHANGDIYA, MRS. MEGHA MITESHKUMAR BHANGDIYA, MRS. SONAL KIRTIKUMAR BHANGDIYA, MRS. MANISH OMPRAKASH MANIYAR
30-Aug-19 16-Sep-19 62400 26 10.00 0.06
5 YOGYA ENTER-PRISES LTD.
YATIN BHUPENDRA SHAH
30-Aug-19 16-Sep-19 910000 26 22.00 2
6 S R K INDUS-TRIES LIMITED
RATANCHAND DESHMAL JAIN
3-Sep-19 17-Sep-19 39226700 50 0.67 2.63
7 LINDE INDIA LIMITED
The BOC GROUP LIMITED
3-Sep-19 17-Sep-19 21321056 25 478.40 1019.99
8 GARV INDUS-TRIES LIMITED
SWARANJEET SINGHSAYAL,RUB-ALJEET SINGH SAYAL
4-Sep-19 17-Sep-19 2652000 26 10.65 2.82
9 S.I. CAPITAL & FINANCE SERVICES LTD
SHAREWEALTH SECURITIES LIMITED
6-Sep-19 20-Sep-19 780000 26 16.50 1.29
10 OVERSEAS SYN-THETICS LTD.
MR.VIJAY DHAWANGALE, MRS. SONA DHAWANGALE
6-Sep-19 20-Sep-19 1847224 26 4.43 0.82
11 INTERNATION-AL PAPER APPM LIMITED
WEST COAST PAPER MILLS LIMITED
12-Sep-19 25-Sep-19 9942510 25 452.60 449.99
12 PULSAR INTER-NATIONAL LTD
BLUEROCK INVESTMENT QUOTIENT LLP
13-Sep-19 26-Sep-19 780000 26 14.00 1.09
Source: SEBI.
OCTOBER 2019 SEBI BULLETIN 2019
841
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$ 33 10,502 2 3,614 1 474 36 14,590Apr-19 3 25 1 32 0 0 4 56
May-19 5 249 0 0 0 0 5 249
Jun-19 4 5,181 0 0 0 0 4 5,181
Jul-19 5 2,394 0 0 1 474 6 2,868Aug-19 4 1,151 1 3,582 0 0 5 4,733Sep-19 12 1,502 0 0 0 0 12 1,502
$ indicates as on September 30,2019 Source: SEBI.
Table 5: Capital Raised from the Primary Market through Public and Rights Issues
Year / Month
Total (Equity + Debt)
Equity Issue Bond Issue
Category-Wise Issue-Type Instrument-Wise No. of issue
Amount (`crore)
Public Rights Listed IPOs 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)
2018-19 158 54,914 123 16,087 10 2,149 10 2,149 123 16,087 6 513 127 17,723 25 36,679
2019-20$ 62 67,045 35 8,467 9 51,020 15 51,066 29 8,421 0 0 44 59,487 18 7,558
Apr-19 15 30,424 8 3,221 2 25,012 2 25,012 8 3,221 0 0 10 28,233 5 2,191
May-19 11 25,527 5 106 2 24,372 2 24,372 5 106 0 0 7 24,478 4 1,048
Jun-19 11 1,506 8 559 1 10 2 22 7 547 0 0 9 569 2 936
Jul-19 8 2,023 5 500 3 1,524 3 1,524 5 500 0 0 8 2,023 0 0
Aug-19 10 7,271 4 4,047 1 102 1 102 4 4,047 0 0 5 4,149 5 3,122
Sep-19 7 295 5 34 0 0 5 34 0 0 0 0 5 34 2 260
Notes: 1. Equity public issues also includes issues listed on SME platform. 2. SinceApril2018,theequityissueiscategorisedbasedontheirrespectiveclosingdates.PriortoApril2018,itwasclassifiedbasedonopeningdate
of the issue. $ indicates as on September 30, 2019 Source: SEBI.
OCTOBER 2019 SEBI BULLETIN 2019
842
Table 6: Issues Listed on SME Platform
Year/Month No. of issue Amount (`crore)2018-19 110 1,8442019-20$ 25 322Apr-19 3 62 May-19 5 106Jun-19 6 72Jul-19 4 41Aug-19 2 8Sep-19 5 34
$ indicates as on September 30, 2019Source: SEBI
Table7:Industry-wiseClassificationof CapitalRaisedthroughPublicandRightsIssues(Equity)
Industry 2018-19 2019-20$ Sep-19
No. of issues
Amount (`crore)
No. of issues
Amount (`crore)
No. of issues
Amount (` crore)
Airlines 0 0 0 - 0 - Automobiles 1 9 0 - 0 - Banks/FIs 1 1,131 1 1,190 0 - Cement/ Constructions 4 542 1 13 0 - Chemical 4 622 3 141 0 - Consumer Services 2 59 2 48 0 - Electronic Equipments/ Products 8 266 5 4,218 0 - Engineering 9 467 5 1,992 2 18 Entertainment 1 1 1 2 0 - Finance 4 3,739 2 106 1 4 Food processing 4 90 0 - 0 - Healthcare 3 58 4 1,253 1 4 Hotels 3 1,647 0 - 0 - Info Tech 2 45 2 469 0 - Insurance 0 0 0 - 0 - Oil & Natural Gas 1 10 0 - 0 - Plastic 2 39 0 - 0 - Power 0 0 0 - 0 - Printing 0 0 1 7 0 - Roads & Highways 0 0 0 - 0 - Telecom 0 0 3 49,403 0 - Textile 10 1,321 1 25 0 - Miscellaneous 74 8,189 13 621 1 9 Total 133 18,235 44 59,487 5 34
$ indicates as on September 30, 2019Source: SEBI.
OCTOBER 2019 SEBI BULLETIN 2019
843
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
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ount
(`
Cro
res)
No.
of
Issu
eAm
ount
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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$
4459
,487
4359
,010
147
711
26,7
790
031
30,0
342
2,67
50
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
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n-19
956
99
569
00
351
30
06
560
00
0Ju
l-19
82,
023
82,
023
00
359
00
448
01
1,48
50
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ug-1
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4,14
95
4,14
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00
04
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534
00
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$ in
dica
tes
as o
n Se
ptem
ber 3
0, 2
019
Sour
ce: S
EB
I.
Table9:Size-wiseClassificationofCapitalRaisedthroughPublicandRightsIssues(Equity)
Year
/
Mon
thTo
tal
< 5
cro
re≥5crore-<10crore
≥10crore-<50
cror
e≥50crore-<100
cror
e≥100crore-<500
cror
e>
=50
0 cr
ore
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$
4459
,487
1028
753
1531
50
05
1,64
67
57,4
46A
pr-1
910
28,2
331
21
73
650
02
609
327
,549
May
-19
724
,478
22
19
395
00
00
124
,372
Jun-
199
569
14
323
467
00
147
50
0Ju
l-19
82,
023
28
00
471
00
145
91
1,48
5A
ug-1
95
4,14
91
11
60
00
01
102
24,
039
Sep-
195
343
101
91
160
00
00
0$
indi
cate
s as
on
Sept
embe
r 30,
201
9 So
urce
: SE
BI.
Tabl
e 10
: Cap
ital R
aise
d by
Lis
ted
Com
pani
es fr
om th
e Pr
imar
y M
arke
t thr
ough
QIP
s
Ye
ar /
Mon
thO
nly
BSE
Onl
y N
SEB
oth
NSE
and
BSE
Tota
lN
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
90
00
014
8,67
814
8,67
820
19-2
0$0
00
05
21,5
035
21,5
03A
pr-1
90
00
01
3,17
31
3,17
3M
ay-1
90
00
00
00
0Ju
n-19
00
00
00
00
Jul-1
90
00
01
2,10
01
2,10
0A
ug-1
90
00
01
1,93
01
1,93
0Se
p-19
00
00
214
,300
214
,300
Not
es:
1. T
he a
bove
dat
a in
clud
es b
oth
“no.
of
issu
es”
and
“Am
ount
” ra
ised
on
conv
ersi
on o
f co
nver
tible
sec
uriti
es is
sued
on
QIP
bas
is.
2. 2
017-
18, I
nclu
des
one
issu
e of
Ins
titut
iona
l Pla
cem
ent P
rogr
amm
e (I
ssue
Siz
e of
Rs.
873
.92
cror
e).
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
So
urce
: BSE
, NSE
.
OCTOBER 2019 SEBI BULLETIN 2019
844
Table 11: Preferential Allotments Listed at BSE, NSE and MSEI
Year/Month
Only BSE Only NSE Only MSEI Both NSE and BSE TotalNo. of issues
Amount (` Crores)
No. of issues
Amount (` Crores)
No. of issues
Amount (`Crores)
No. of issues
Amount (` Crores)
No. of issues
Amount (`Crores)
2018-19 209 10,826 21 8,033 4 24 170 191280.36 404 2,10,1632019-20$ 73 650 7 47 4 11 72 76,682 148 77,368Apr-19 7 22 0 0 0 0.0 16 35,806 23 35,828May-19 24 275 1 6 0 0.0 11 19,570 36 19,851Jun-19 7 60 1 7 2 9 17 15,402 27 15,478Jul-19 19 151 2 8 0 0.0 9 4,237 30 4,396Aug-19 8 15 3 26 0 0.0 5 294 16 335Sep-19 8 128 0 0 0 2 12 1,364 18 1,489
$ indicates as on September 30,2019 Source: BSE, NSE and MSEI.
Table 12: Private Placement of Corporate Debt Reported to BSE and NSE
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)
2018-19 479 1,77,593 1703 2,47,190 176 1,85,274 2358 5,79,4252019-20$ 199 90,110 681 1,14,881 62 92,668 877 2,97,759Apr-19 39 26,394 174 31,435 11 12,235 224 70,064May-19 39 19,502 91 13,665 10 10,410 140 43,577Jun-19 45 14,000 113 24,900 13 10,100 171 49,100Jul-19 31 10,734 117 13,431 13 21,915 161 46,080Aug-19 23 9,939 94 12,224 6 18,146 123 40,309Sep-19 22 9,541 92 19,225 9 19,863 58 48,629
$ indicates as on September 30, 2019 Source: BSE and NSE.
Table 13: Trading in the Corporate Debt Market
Year / Month BSE NSE TotalNo. of Trades Traded Value
(` crore)No. of Trades Traded Value
(` crore)No. of Trades Traded Value
(` crore)2018-19 43,157 6,31,252 60,370 11,68,408 1,03,527 17,99,6602019-20$ 29,600 4,01,167 42,248 7,60,233 71,848 11,61,400Apr-19 3,944 53,756 5,380 90,748 9,324 1,44,504May-19 4,839 65,109 6,650 1,29,918 11,489 1,95,027Jun-19 3,662 56,679 5,845 1,14,725 9,507 1,71,404Jul-19 5,255 65,646 6,886 1,18,102 12,141 1,83,748Aug-19 4,175 58,482 6,095 1,04,532 10,270 1,63,014Sep-19 3,550 43,012 5,297 97,677 8,847 1,40,689
$ indicates as on September 30, 2019 Source: BSE, NSE and MSEI.
OCTOBER 2019 SEBI BULLETIN 2019
845
Table14:RatingsAssignedforLong-termCorporateDebtSecurities(M
aturity≥1year)
Gra
de
Perio
d
Inve
stm
ent G
rade
Non
-Inv
estm
ent
Gra
deTo
tal
Hig
hest
Saf
ety
(AA
A)
Hig
h Sa
fety
(AA
)A
dequ
ate
Safe
ty (A
)M
oder
ate
Safe
ty
(BB
B)
No.
of
issu
eA
mou
nt
(`cr
ore)
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
927
920
,80,
536
400
3,24
,989
349
1,04
,666
241
20,8
7957
12,7
381,
326
25,4
3,80
720
19-2
0$16
87,
19,4
0912
699
,985
118
17,6
8586
8,00
526
5,15
952
48,
50,2
42A
pr-1
98
1,05
,452
42,
850
61,
483
149
57
3,07
226
1,13
,352
May
-19
2965
,426
2417
,135
151,
202
1172
71
7580
84,5
65Ju
n-19
392,
78,9
6230
42,5
8424
4,62
116
2,76
27
351
116
3,29
,281
Jul-1
938
60,4
8727
8,36
130
2,39
627
744
51,
209
127
73,1
98A
ug-1
924
1,18
,202
2116
,930
171,
909
152,
469
424
981
1,39
,759
Sep-
1930
90,8
7920
12,1
2526
6,07
416
808
220
294
1,10
,089
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19So
urce
: Cre
dit R
atin
g A
genc
ies.
Table15:ReviewofAcceptedRatingsofCorporateDebtSecurities(M
aturity≥1year)
Gra
de Pe
riod
Upg
rade
dD
owng
rade
dReaffirmed
Rat
ing
Wat
chW
ithdr
awn/
Su
spen
ded
Tota
l
No.
of
issu
eA
mou
nt
(`cr
ore)
No.
of
issu
eA
mou
nt
(`cr
ore)
No.
of
issu
eA
mou
nt
(`cr
ore)
No.
of
issu
eA
mou
nt
(`cr
ore)
No.
of
issu
eA
mou
nt
(`cr
ore)
No.
of
issu
eA
mou
nt
(`cr
ore)
2018
-19
711
3,14
,241
892
9,13
,562
5,48
91,
22,5
2,04
549
411
,24,
408
1,10
14,
75,7
608,
687
1,50
,79,
016
2019
-20$
105
31,9
4210
5912
,16,
687
2,26
039
,71,
915
471
5,05
,739
606
1,81
,336
4,50
459
,08,
143
Apr
-19
421
,200
148
1,86
,754
6271
,602
136
2,26
,341
292,
545
379
5,08
,442
May
-19
161,
774
221
3,01
,102
227
5,69
,456
4864
,719
117
31,8
1162
99,
68,8
61Ju
n-19
2930
120
42,
59,0
5556
17,
77,0
4957
49,5
2611
624
,601
967
11,1
0,53
2Ju
l-19
764
813
989
,554
380
3,47
,206
7021
,966
9434
,933
693
4,94
,832
Aug
-19
384,
542
169
1,64
,228
433
5,67
,877
5147
,621
135
66,1
2082
68,
50,3
88Se
p-19
113,
478
178
2,15
,994
597
16,3
8,72
410
995
,566
115
21,3
271,
010
19,7
5,08
7$
indi
cate
s as
on
Sept
embe
r 30,
2019
Sour
ce: C
redi
t Rat
ing
Age
ncie
s.
Tabl
e 16
: Dis
trib
utio
n of
Tur
nove
r on
Cas
h Se
gmen
ts o
f St
ock
Exc
hang
es (`
cror
e)St
ock
Exc
hang
es20
18-1
920
19-2
0$Se
p-19
BSE
7,75
,590
3,12
,741
52,6
90M
SEI
3026
0N
SE79
,49,
004
41,2
1,28
27,
10,4
98$
indi
cate
s as
on
Sept
embe
r 30,
201
9So
urce
: BSE
, NSE
and
MSE
I.
OCTOBER 2019 SEBI BULLETIN 2019
846
Tabl
e 17
: Tre
nds
in C
ash
Segm
ent o
f B
SE
Year
/
Mon
th
No.
of
Com
pa-
nies
List
ed
No.
of
Com
pa-
nies
Per
-m
itted
*
No.
of
com
pani
es
trade
d
No.
of
Trad
ing
Day
s
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Turn
over
(`
cro
re)
Aver
age
Dai
ly
Turn
over
(`
cro
re)
Aver
age
Trad
e Si
ze
(`)
Dem
at
Secu
ritie
s Tr
aded
(L
akh)
Dem
at
Turn
over
(`
cro
re)
Mar
ket C
api-
talis
atio
n
(` c
rore
)
S&P
BSE
Sens
ex
Hig
hLo
wCl
ose
2018
-19
5,262
364,0
8624
83,1
455,1
8,103
7,75,5
903,1
2724
,659
5,18,1
037,7
5,590
1,51,0
8,711
38,99
032
,973
38,67
320
19-2
0$5,3
3236
3,945
122
1,474
2,72,0
883,1
2,741
2,563
21,22
32,7
2,088
3,12,7
411,4
7,17,4
5640
,312
35,98
838
,667
Apr-1
95,2
8236
3,580
1925
576
,939
55,86
82,9
4021
,943
76,93
955
,868
1,52,5
4,028
39,48
738
,460
39,03
2M
ay-1
95,2
9236
3,587
2228
342
,343
58,17
22,6
4420
,581
42,34
358
,172
1,54,3
8,015
40,12
536
,956
39,71
4Ju
n-19
5,301
363,5
1919
208
37,45
346
,958
2,471
22,55
037
,453
46,95
81,5
1,97,0
8740
,312
38,87
139
,395
Jul-1
95,3
1236
3,561
2321
938
,940
48,24
92,0
9822
,070
38,94
048
,249
1,41,4
7,125
40,03
237
,128
37,48
1Au
g-19
5,317
363,5
2220
248
37,79
350
,805
2,540
20,50
637
,793
50,80
51,4
0,98,4
5237
,808
36,10
237
,333
Sep-
195,3
3236
3,537
1926
238
,619
52,69
02,7
7320
,129
38,61
952
,690
1,47,1
7,456
39,44
135
,988
38,66
7$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: BSE
.
Tabl
e 18
: Tre
nds
in C
ash
Segm
ent o
f N
SE
Year
/
Mon
th
No.
of
Com
pa-
nies
List
ed
No.
of
Com
pa-
nies
Per
-m
itted
*
No.
of
com
pani
es
trade
d
No.
of
Trad
ing
Day
s
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Turn
over
(`
cro
re)
Aver
age
Dai
ly
Turn
over
(`
cro
re)
Aver
age
Trad
e Si
ze
(`)
Dem
at
Secu
ritie
s Tr
aded
(L
akh)
Dem
at
Turn
over
(`
cro
re)
Mar
ket
Capi
talis
a-tio
n
(` c
rore
)
Nift
y 50
Inde
x
Hig
hLo
wCl
ose
2018
-19
1931
419
2224
828
,532
37,49
,976
79,49
,004
32,05
227
,860
37,49
,976
79,49
,004
1,49,3
4,227
11,76
010
,005
11,62
420
19-2
0$19
5518
2054
122
14,61
419
,99,95
441
,21,28
233
,781
28,20
119
,99,95
441
,21,28
21,4
5,73,0
0312
,103
10,63
711
,474
Apr-1
919
384
1856
192,1
473,0
8,636
6,40,1
1533
,690
29,81
13,0
8,636
6,40,1
151,5
0,43,2
7611
,856
11,54
911
,748
May
-19
1942
418
6022
2,735
3,72,7
127,8
8,184
35,82
728
,822
3,72,7
127,8
8,184
1,52,5
4,361
12,04
111
,108
11,92
3Ju
n-19
1945
418
6419
2,146
3,02,5
725,9
6,030
31,37
027
,779
3,02,5
725,9
6,030
1,50,3
1,415
12,10
311
,625
11,78
9Ju
l-19
1950
418
6823
2,557
3,35,0
537,1
2,821
30,99
227
,879
3,35,0
537,1
2,821
1,40,0
5,417
11,98
210
,999
11,11
8Au
g-19
1952
1818
7320
2,526
3,34,0
196,7
3,633
33,68
226
,670
3,34,0
196,7
3,633
1,39,7
6,168
11,18
110
,637
11,02
3Se
p-19
1955
1818
8519
2,504
3,46,9
637,1
0,498
37,39
528
,376
3,46,9
637,1
0,498
1,45,7
3,003
11,69
510
,670
11,47
4T
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
Sept
embe
r 30,
2019
So
urce
: BSE
.
Tabl
e 19
: Tre
nds
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
Trad
ed
Qua
ntity
(L
akh)
Turn
over
(`
cro
re)
Aver
age
Dai
ly
Turn
over
(`
cro
re)
Aver
age
Trad
e Si
ze (`
)
Dem
at
Secu
ritie
s Tr
aded
(L
akh)
Dem
at
Turn
over
(`
cro
re)
Mar
ket C
ap-
italis
atio
n (`
cr
ore)
SX 5
0 In
dex
Hig
hLo
wCl
ose
2018
-19
287
1,30
98
248
1,91
114
300
1,58
,520
1430
1,47
,51,
584
22,8
7319
,645
22,7
4320
19-2
0$28
91,
287
1212
268
712
260
3,75
,560
1520
1,37
,31,
179
23,6
8721
,112
22,6
37A
pr-1
928
61,
308
619
227
47
03,
28,4
454
71,
48,4
2,66
123
,072
22,6
5923
,001
May
-19
288
1,30
65
2218
64
70
3,84
,889
97
1,50
,35,
898
23,4
0121
,840
23,3
57Ju
n-19
288
1,30
58
1914
93
60
3,81
,750
36
1,47
,98,
290
23,6
8722
,917
23,1
69Ju
l-19
288
1,30
37
2393
34
04,
79,0
450
01,
37,9
0,85
923
,450
21,8
3521
,897
Aug
-19
288
1,30
33
2014
01
04,
18,1
920
01,
37,3
1,17
921
,923
21,2
1821
,736
Sep-
1928
91,
287
419
180
00
2,54
,242
00
1,43
,24,
678
22,8
8421
,112
22,6
37$
indi
cate
s up
to S
epte
mbe
r 30,
2019
Sour
ce: M
SEI.
OCTOBER 2019 SEBI BULLETIN 2019
847
Tabl
e 17
: Tre
nds
in C
ash
Segm
ent o
f B
SE
Year
/
Mon
th
No.
of
Com
pa-
nies
List
ed
No.
of
Com
pa-
nies
Per
-m
itted
*
No.
of
com
pani
es
trade
d
No.
of
Trad
ing
Day
s
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Turn
over
(`
cro
re)
Aver
age
Dai
ly
Turn
over
(`
cro
re)
Aver
age
Trad
e Si
ze
(`)
Dem
at
Secu
ritie
s Tr
aded
(L
akh)
Dem
at
Turn
over
(`
cro
re)
Mar
ket C
api-
talis
atio
n
(` c
rore
)
S&P
BSE
Sens
ex
Hig
hLo
wCl
ose
2018
-19
5,262
364,0
8624
83,1
455,1
8,103
7,75,5
903,1
2724
,659
5,18,1
037,7
5,590
1,51,0
8,711
38,99
032
,973
38,67
320
19-2
0$5,3
3236
3,945
122
1,474
2,72,0
883,1
2,741
2,563
21,22
32,7
2,088
3,12,7
411,4
7,17,4
5640
,312
35,98
838
,667
Apr-1
95,2
8236
3,580
1925
576
,939
55,86
82,9
4021
,943
76,93
955
,868
1,52,5
4,028
39,48
738
,460
39,03
2M
ay-1
95,2
9236
3,587
2228
342
,343
58,17
22,6
4420
,581
42,34
358
,172
1,54,3
8,015
40,12
536
,956
39,71
4Ju
n-19
5,301
363,5
1919
208
37,45
346
,958
2,471
22,55
037
,453
46,95
81,5
1,97,0
8740
,312
38,87
139
,395
Jul-1
95,3
1236
3,561
2321
938
,940
48,24
92,0
9822
,070
38,94
048
,249
1,41,4
7,125
40,03
237
,128
37,48
1Au
g-19
5,317
363,5
2220
248
37,79
350
,805
2,540
20,50
637
,793
50,80
51,4
0,98,4
5237
,808
36,10
237
,333
Sep-
195,3
3236
3,537
1926
238
,619
52,69
02,7
7320
,129
38,61
952
,690
1,47,1
7,456
39,44
135
,988
38,66
7$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: BSE
.
Tabl
e 18
: Tre
nds
in C
ash
Segm
ent o
f N
SE
Year
/
Mon
th
No.
of
Com
pa-
nies
List
ed
No.
of
Com
pa-
nies
Per
-m
itted
*
No.
of
com
pani
es
trade
d
No.
of
Trad
ing
Day
s
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Turn
over
(`
cro
re)
Aver
age
Dai
ly
Turn
over
(`
cro
re)
Aver
age
Trad
e Si
ze
(`)
Dem
at
Secu
ritie
s Tr
aded
(L
akh)
Dem
at
Turn
over
(`
cro
re)
Mar
ket
Capi
talis
a-tio
n
(` c
rore
)
Nift
y 50
Inde
x
Hig
hLo
wCl
ose
2018
-19
1931
419
2224
828
,532
37,49
,976
79,49
,004
32,05
227
,860
37,49
,976
79,49
,004
1,49,3
4,227
11,76
010
,005
11,62
420
19-2
0$19
5518
2054
122
14,61
419
,99,95
441
,21,28
233
,781
28,20
119
,99,95
441
,21,28
21,4
5,73,0
0312
,103
10,63
711
,474
Apr-1
919
384
1856
192,1
473,0
8,636
6,40,1
1533
,690
29,81
13,0
8,636
6,40,1
151,5
0,43,2
7611
,856
11,54
911
,748
May
-19
1942
418
6022
2,735
3,72,7
127,8
8,184
35,82
728
,822
3,72,7
127,8
8,184
1,52,5
4,361
12,04
111
,108
11,92
3Ju
n-19
1945
418
6419
2,146
3,02,5
725,9
6,030
31,37
027
,779
3,02,5
725,9
6,030
1,50,3
1,415
12,10
311
,625
11,78
9Ju
l-19
1950
418
6823
2,557
3,35,0
537,1
2,821
30,99
227
,879
3,35,0
537,1
2,821
1,40,0
5,417
11,98
210
,999
11,11
8Au
g-19
1952
1818
7320
2,526
3,34,0
196,7
3,633
33,68
226
,670
3,34,0
196,7
3,633
1,39,7
6,168
11,18
110
,637
11,02
3Se
p-19
1955
1818
8519
2,504
3,46,9
637,1
0,498
37,39
528
,376
3,46,9
637,1
0,498
1,45,7
3,003
11,69
510
,670
11,47
4T
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
Sept
embe
r 30,
2019
So
urce
: BSE
.
Tabl
e 19
: Tre
nds
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
Trad
ed
Qua
ntity
(L
akh)
Turn
over
(`
cro
re)
Aver
age
Dai
ly
Turn
over
(`
cro
re)
Aver
age
Trad
e Si
ze (`
)
Dem
at
Secu
ritie
s Tr
aded
(L
akh)
Dem
at
Turn
over
(`
cro
re)
Mar
ket C
ap-
italis
atio
n (`
cr
ore)
SX 5
0 In
dex
Hig
hLo
wCl
ose
2018
-19
287
1,30
98
248
1,91
114
300
1,58
,520
1430
1,47
,51,
584
22,8
7319
,645
22,7
4320
19-2
0$28
91,
287
1212
268
712
260
3,75
,560
1520
1,37
,31,
179
23,6
8721
,112
22,6
37A
pr-1
928
61,
308
619
227
47
03,
28,4
454
71,
48,4
2,66
123
,072
22,6
5923
,001
May
-19
288
1,30
65
2218
64
70
3,84
,889
97
1,50
,35,
898
23,4
0121
,840
23,3
57Ju
n-19
288
1,30
58
1914
93
60
3,81
,750
36
1,47
,98,
290
23,6
8722
,917
23,1
69Ju
l-19
288
1,30
37
2393
34
04,
79,0
450
01,
37,9
0,85
923
,450
21,8
3521
,897
Aug
-19
288
1,30
33
2014
01
04,
18,1
920
01,
37,3
1,17
921
,923
21,2
1821
,736
Sep-
1928
91,
287
419
180
00
2,54
,242
00
1,43
,24,
678
22,8
8421
,112
22,6
37$
indi
cate
s up
to S
epte
mbe
r 30,
2019
Sour
ce: M
SEI.
Table 20: City-wise Distribution of Turnover on Cash Segments (Percentage share in Turnover)
S.No City BSE NSE MSEI2018-19 Sep-19 2018-19 Sep-19 2018-19 Sep-19
1 Ahmedabad 2.5 2.6 2.2 1.5 0 02 Bengaluru 0.5 1.2 3.8 3.5 0 03 Vadodra 0.9 0.7 0.3 0.3 0 04 Bhubneshwar 0.0 0.0 0.0 0.0 0 05 Chennai 1.1 0.8 0.9 0.9 0 06 Ernakulum 0.1 0.1 0.8 0.7 0 07 Coimbatore 0.0 0.0 0.1 0.0 0 08 New Delhi 1.6 1.0 6.3 6.2 29.4 27.219 Guwahati 0.0 0.0 0.0 0.0 0 0
10 Hyderabad 0.4 0.1 3.4 3.3 0.1 011 Indore 0.4 0.2 0.4 0.2 0 012 Jaipur 0.6 0.4 0.3 0.3 0.1 013 Kanpur 0.3 0.2 0.1 0.1 0 014 Kolkata 2.4 3.6 4.8 5.6 0 015 Ludhiana 0.1 0.1 0.2 0.1 0 016 Mangalore 0.0 0.0 0.0 0.0 0 017 Mumbai 56.4 46.6 64.3 63.1 40.7 14.5218 Patna 0.1 0.0 0.0 0.0 0 019 Pune 0.3 0.2 0.1 0.1 0 020 Rajkot 1.7 1.9 1.2 1.1 0 021 Others 30.6 40.2 10.8 13.0 29.8 58.27
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
registeredofficecityforproprietarytrades.Source: BSE, NSE and MSEI.
Table 21: Category-wise Share of Turnover in Cash Segment of BSE
Year / MonthPercentage Share in Turnover
Proprietary FPIs Mutual Funds Banks Others2018-19 22.4 12.4 7.9 0.1 57.22019-20$ 27.5 8.3 5.9 0.1 58.2Apr-19 22.5 7.1 6.8 0.0 63.6May-19 31.3 6.4 5.7 0.1 56.5Jun-19 26.3 8.8 5.3 0.1 59.5Jul-19 26.9 8.1 5.5 0.0 59.5Aug-19 26.8 12.6 5.9 0.1 54.7Sep-19 31.4 7.1 6.1 0.0 55.4
$ indicates as on September 30,2019 Source: BSE.
OCTOBER 2019 SEBI BULLETIN 2019
848
Table 22: Category-wise Share of Turnover in Cash Segment of NSE
Year /MonthPercentage Share in Turnover
Proprietary FPIs Mutual Funds Banks Others2018-19 21.5 15.1 7.5 0.2 55.7
2019-20$ 23.2 15.3 7.4 0.1 54.0
Apr-19 22.7 14.3 6.7 0.2 56.2
May-19 22.8 16.2 6.8 0.2 54.1
Jun-19 22.9 15.9 6.6 0.1 54.5
Jul-19 23.4 13.9 8.2 0.1 54.5
Aug-19 23.1 17.1 8.7 0.1 51.0
Sep-19 24.0 14.5 7.6 0.2 53.8
$ indicates up to September 30,2019 Source: NSE.
Table 23: Category-wise Share of Turnover in Cash Segment of MSEI
Year / MonthPercentage Share in Turnover
Proprietary FPIs Mutual Funds Banks Others2018-19 0 0 0 0 100
2019-20$ 0 0 0 0 100
Apr-19 0 0 0 0 100
May-19 0 0 0 0 100
Jun-19 0 0 0 0 100
Jul-19 0 0 0 0 100
Aug-19 0 0 0 0 100
Sep-19 0 0 0 0 100
$ indicates up to September 30,2019 Source: MSEI.
OCTOBER 2019 SEBI BULLETIN 2019
849
Table 24: Component Stocks: S&P BSE Sensex during Sep-19
Sl.No Name of SecurityIssued Capital
(` crore)
Free Float Market
Capitalisation (` crore)
Weightage (Per cent) Beta R 2
Daily Volatility (Per cent)
Monthly Return
(Per cent)
Impact Cost
(Per cent)
1 HDFC BANK 547 5,20,248 13.1 1.3 0.1 4.6 10.1 0.1
2 RELIANCE 6,339 4,21,972 10.6 1.2 0.4 1.9 6.7 0.0
3 HDFC 345 3,39,531 8.5 1.2 0.5 1.6 -8.8 0.1
4 INFOSYS LTD 2,148 3,00,915 7.6 0.4 0.1 1.5 -1.1 0.0
5 ICICI BANK 1,292 2,78,007 7.0 1.4 0.5 1.9 5.6 0.2
6 ITC LTD. 1,229 2,21,348 5.6 0.8 0.3 1.3 5.8 0.1
7 TCS LTD. 375 2,20,556 5.5 0.4 0.1 1.5 -7.0 0.0
8 KOTAK MAH.BK 955 1,94,068 4.9 1.0 0.4 1.6 14.9 0.1
9 LARSEN & TOU 281 1,79,920 4.5 1.2 0.5 1.6 11.2 0.0
10 AXISBANK 564 1,45,301 3.7 1.2 0.4 1.8 3.1 0.0
11 HIND UNI LT 216 1,41,601 3.6 0.7 0.3 1.3 5.4 0.0
12 STATE BANK 892 1,01,542 2.6 1.5 0.5 2.1 -1.0 0.0
13 BAJFINANCE 116 95,728 2.4 1.5 0.4 2.4 21.6 0.0
14 MARUTISUZUK 151 89,283 2.2 1.4 0.4 2.1 9.7 0.2
15 INDUSIND BNK 693 83,289 2.1 1.5 0.4 2.5 -0.9 0.1
16 ASIAN PAINTS 96 79,512 2.0 1.0 0.3 1.6 9.2 0.1
17 BHARTI ARTL 2,566 69,721 1.8 1.0 0.2 2.3 5.8 0.1
18 HCL TECHNO 271 58,618 1.5 0.4 0.1 1.7 -1.8 0.0
19 MAH & MAH 622 52,343 1.3 1.4 0.5 2.0 3.5 0.1
20 NTPC LTD 9,895 50,056 1.3 0.5 0.1 1.9 -3.3 0.1
21 POWER GRID 5,232 46,837 1.2 0.3 0.1 1.4 -0.8 0.1
22 TECH MAH 482 44,055 1.1 0.4 0.1 1.7 2.7 0.1
23 SUN PHARMA. 240 42,069 1.1 0.5 0.1 2.3 -13.5 0.1
24 ONGC CORPN 6,417 41,483 1.0 1.1 0.2 2.2 8.8 0.1
25 BAJAJ AUTO 289 38,308 1.0 0.9 0.3 1.6 5.5 0.1
26 HEROMOTOCO 40 35,058 0.9 1.3 0.3 2.2 5.0 0.1
27 VEDL 372 28,059 0.7 1.3 0.2 2.8 10.6 0.1
28 TATA STEEL 1,146 27,159 0.7 1.3 0.3 2.2 4.3 0.1
29 TATA MOTORS 577 21,025 0.5 1.6 0.2 3.3 0.6 0.0
30 YES BANK 510 8,563 0.2 1.5 0.1 5.3 -30.3 0.3
31 TATAMTRTDVR 102 2,698 0.1 1.6 0.3 3.1 -0.8 0.2
Notes: 1. Beta & R2 are calculated for the trailing 12 months. Beta measures the degree to which any portfolio of stocks is affected as compared to the effect
on the market as a whole. 2. Thecoefficientof determination(R2)measuresthestrengthof relationshipbetweentwovariablesthereturnonasecurityversusthatof 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.
OCTOBER 2019 SEBI BULLETIN 2019
850
Table 25: Component Stocks: Nifty 50 Index during Sep-19
Sl. No Name of Security
Issued Capital
(`Crore)
Free Float Market
Capitalisation (` crore)
Weightage (Per cent) Beta R 2
Daily Volatility (Per cent)
Monthly Return
(Per cent)
Impact Cost
(Per cent)
1 HDFC Bank Ltd. 547 5,30,492 11.3 0.9 0.5 2.4 10.2 0.02 Reliance Industries Ltd. 6,339 4,56,046 9.7 1.2 0.4 1.9 6.7 0.03 Housing Development Finance
Corporation Ltd.345 3,40,775 7.2 1.2 0.5 2.1 -8.7 0.0
4 Infosys Ltd. 2,129 2,95,048 6.3 0.3 0.0 1.9 -1.1 0.05 ICICI Bank Ltd. 1,292 2,80,088 5.9 1.4 0.5 3.0 5.9 0.06 ITC Ltd. 1,229 2,23,458 4.7 0.8 0.3 2.0 5.8 0.07 Tata Consultancy Services Ltd. 375 2,20,567 4.7 0.4 0.1 1.3 -7.1 0.08 Kotak Mahindra Bank Ltd. 955 2,19,842 4.7 1.0 0.3 2.2 14.9 0.09 Larsen & Toubro Ltd. 281 1,82,051 3.9 1.2 0.5 3.0 11.0 0.010 Hindustan Unilever Ltd. 216 1,41,588 3.0 0.7 0.3 2.2 5.3 0.011 Axis Bank Ltd. 524 1,38,206 2.9 1.2 0.4 2.8 3.2 0.012 State Bank of India 892 1,03,922 2.2 1.6 0.5 3.6 -1.1 0.013 Bajaj Finance Ltd. 116 96,198 2.0 1.6 0.4 3.1 21.4 0.014 Maruti Suzuki India Ltd. 151 89,263 1.9 1.4 0.4 3.7 9.7 0.015 IndusInd Bank Ltd. 693 83,412 1.8 1.5 0.4 3.8 -0.9 0.016 Asian Paints Ltd. 96 79,442 1.7 1.0 0.4 2.7 9.0 0.017 Bharti Airtel Ltd. 2,566 69,696 1.5 1.0 0.2 2.1 5.8 0.018 HCL Technologies Ltd. 271 58,627 1.2 0.4 0.1 1.4 -1.8 0.019 Titan Company Ltd. 89 53,119 1.1 1.0 0.3 2.6 15.2 0.020 Mahindra & Mahindra Ltd. 622 52,376 1.1 1.4 0.5 3.2 3.5 0.021 Bajaj Finserv Ltd. 80 51,480 1.1 1.5 0.5 2.5 19.6 0.022 NTPC Ltd. 9,895 51,155 1.1 0.5 0.1 1.7 -3.4 0.023 Nestle India Ltd. 96 49,550 1.1 0.6 0.2 2.0 7.9 0.024 Power Grid Corporation of India Ltd. 5,232 46,861 1.0 0.3 0.1 1.7 -0.7 0.025 UltraTech Cement Ltd. 275 45,308 1.0 1.3 0.4 2.7 7.1 0.026 Tech Mahindra Ltd. 482 44,114 0.9 0.4 0.1 1.7 3.0 0.027 Sun Pharmaceutical Industries Ltd. 240 42,983 0.9 0.6 0.1 1.4 -13.5 0.028 Oil & Natural Gas Corporation Ltd. 6,290 41,452 0.9 1.2 0.3 2.8 8.8 0.029 Bajaj Auto Ltd. 289 38,307 0.8 0.9 0.3 2.2 5.5 0.030 Bharat Petroleum Corporation Ltd. 2,169 37,731 0.8 1.6 0.3 3.9 32.3 0.031 Indian Oil Corporation Ltd. 9,414 36,079 0.8 1.5 0.3 2.7 20.4 0.032 Coal India Ltd. 6,163 35,717 0.8 0.6 0.1 2.5 8.2 0.033 Wipro Ltd. 1,142 35,615 0.8 0.3 0.1 1.3 -5.7 0.034 Hero MotoCorp Ltd. 40 35,114 0.7 1.3 0.3 3.6 5.2 0.035 Britannia Industries Ltd. 24 34,669 0.7 0.8 0.3 3.0 9.0 0.036 UPL Ltd. 153 33,223 0.7 0.9 0.2 1.7 7.2 0.037 Dr. Reddy's Laboratories Ltd. 83 32,775 0.7 0.3 0.0 1.6 5.7 0.038 Adani Ports and Special Economic
Zone Ltd.414 32,576 0.7 1.3 0.3 2.3 13.2 0.0
39 Grasim Industries Ltd. 132 28,810 0.6 1.4 0.4 2.1 2.7 0.040 Vedanta Ltd. 372 28,077 0.6 1.4 0.2 3.2 10.8 0.041 Hindalco Industries Ltd. 225 27,934 0.6 1.1 0.3 1.9 3.7 0.042 Tata Steel Ltd. 1,126 27,209 0.6 1.3 0.3 3.0 4.5 0.043 GAIL (India) Ltd. 4,510 24,871 0.5 0.9 0.2 2.0 3.6 0.044 Eicher Motors Ltd. 27 24,724 0.5 1.6 0.4 4.2 9.3 0.045 JSW Steel Ltd. 242 23,345 0.5 1.4 0.4 2.8 5.8 0.046 Bharti Infratel Ltd. 1,850 21,892 0.5 0.4 0.0 1.4 2.7 0.047 Cipla Ltd. 161 21,605 0.5 0.6 0.1 1.5 -9.9 0.048 Tata Motors Ltd. 577 21,025 0.5 1.7 0.3 4.4 0.6 0.049 Zee Entertainment Enterprises Ltd. 96 16,321 0.4 0.8 0.0 3.3 -28.8 0.050 Yes Bank Ltd. 510 8,658 0.2 1.5 0.1 6.3 -30.9 0.1
Notes: 1. Beta & R2 are calculated for the the trailing 12 months. Beta measures the degree to which any portfolio of stocks is affected as compared to the
effect on the market as a whole. 2. Thecoefficientof determination(R2)measuresthestrengthof relationshipbetweentwovariablesthereturnonasecurityversusthatof themarket.3. Volatility is the standard deviation of the daily returns for the 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. Impact Cost for Nifty 50 is for a portfolio of Rs. 50 Lakhs and is weightage average impact cost. Source: NSE.
OCTOBER 2019 SEBI BULLETIN 2019
851
Table 26: Component Stocks: SX40 Index during Sept 2019
S.No. Name of SecurityIssued
Capital (` crore)
Free Float Market
Capitalisation (` crore)
Weightage (Per cent) Beta R2
Daily Volatility (Per cent)
Monthly Return
(Per cent)
Impact Cost (Per
cent) *
1 HDFCBANK 547 5,28,284 12.07 0.93 0.51 0 0 Na2 RELIANCE 6,339 4,31,783 9.87 1.17 0.36 0 0 Na3 HDFC 345 3,41,110 7.79 1.21 0.49 0 0 Na4 INFY 2,183 3,04,946 6.97 0.36 0.05 0 0 Na5 ICICIBANK 1,292 2,79,957 6.4 1.37 0.47 0 0 Na6 ITC 1,228 2,24,853 5.14 0.8 0.33 0 0 Na7 TCS 375 2,20,184 5.03 0.41 0.07 0 0 Na8 KOTAKBANK 955 2,14,487 4.9 1 0.34 0 0 Na9 LT 281 1,81,460 4.15 1.21 0.5 0 0 Na10 AXISBANK 564 1,44,448 3.3 1.22 0.42 0 0 Na11 HINDUNILVR 216 1,40,795 3.22 0.71 0.28 0 0 Na12 SBIN 892 1,03,480 2.36 1.55 0.51 0 0 Na13 BAJFINANCE 116 96,926 2.21 1.6 0.41 0 0 Na14 MARUTI 151 88,844 2.03 1.37 0.42 0 0 Na15 INDUSINDBK 693 82,420 1.88 1.51 0.35 0 0 Na16 ASIANPAINT 96 79,792 1.82 0.98 0.35 0 0 Na17 BHARTIARTL 2,566 70,205 1.6 1.01 0.19 0 0 Na18 HCLTECH 271 58,627 1.34 0.42 0.06 0 0 Na19 TITAN 89 53,224 1.22 0.96 0.24 0 0 Na20 M&M 622 52,291 1.19 1.44 0.48 0 0 Na21 NTPC 9,895 50,682 1.16 0.54 0.1 0 0 Na22 POWERGRID 5,232 46,480 1.06 0.34 0.06 0 0 Na23 TECHM 493 45,650 1.04 0.42 0.06 0 0 Na24 SUNPHARMA 240 42,622 0.97 0.55 0.05 0 0 Na25 ONGC 6,290 42,206 0.96 1.14 0.27 0 0 Na26 WIPRO 1,207 37,255 0.85 0.35 0.05 0 0 Na27 BPCL 2,169 37,236 0.85 1.6 0.29 0 0 Na28 COALINDIA 6,163 35,767 0.82 0.61 0.12 0 0 Na29 IOC 9,414 35,896 0.82 1.44 0.28 0 0 Na30 HEROMOTOCO 40 35,313 0.81 1.29 0.32 0 0 Na31 BAJAJ-AUTO 289 35,634 0.81 0.89 0.31 0 0 Na32 DRREDDY 86 34,125 0.78 0.31 0.03 0 0 Na33 ADANIPORTS 414 32,318 0.74 1.32 0.31 0 0 Na34 VEDL 372 28,342 0.65 1.38 0.24 0 0 Na35 GRASIM 132 28,635 0.65 1.36 0.39 0 0 Na36 HINDALCO 225 27,975 0.64 1.1 0.28 0 0 Na37 TATASTEEL 1,126 27,636 0.63 1.33 0.32 0 0 Na38 EICHERMOT 27 24,574 0.56 1.63 0.37 0 0 Na39 TATAMOTORS 577 20,899 0.48 1.65 0.24 0 0 Na40 YESBANK 510 8,661 0.2 1.45 0.07 0 0 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.
OCTOBER 2019 SEBI BULLETIN 2019
852
Table 27: Advances/Declines in Cash Segment of BSE, NSE and MSEI
Year/ Month
BSE NSE MSEI
Advances DeclinesAdvance/Decline Ratio
Advances DeclinesAdvance/Decline Ratio
Advances DeclinesAdvance/Decline Ratio
2018-19 1,156 2,730 0.4 585 1,294 0.5 2 5 0.42019-20$ 822 3,025 0.3 384 1,515 0.3 3 6 0.5Apr-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 2.0Jun-19 1,215 2,190 0.6 728 1,200 0.6 2 2 1.0Jul-19 698 2,665 0.3 335 1,591 0.2 3 2 1.5Aug-19 679 2,700 0.3 299 1,623 0.2 4 0 0Sep-19 2,005 1,351 1.5 1,283 644 2.0 2 0 0
Note: Advance/Decline is calculated based on the average price methodology. $ indicates as on September 30, 2019 Source: BSE, NSE and MSEI.
Table 28: Trading Frequency in Cash Segment of BSE, NSE and MSEI
Month
BSE NSE MSEINo. of
Companies Listed
No. of Companies
Traded
Per cent of Traded to
Listed
No. of Companies
Listed
No. of Companies
Traded
Per cent of Traded to
Listed
No. of Companies
Listed
No. of Companies
Traded
Per cent of Traded to
Listed2018-19 5,262 4,086 77.7 1,931 1,922 99.5 287 8 2.82019-20$ 5,332 3,945 74.0 1,955 2,054 105.1 289 12 4.2Apr-19 5,282 3,580 67.8 1,938 1,856 95.8 286 6 2.1May-19 5,292 3,587 67.8 1,942 1,860 95.8 288 5 1.7Jun-19 5,301 3,519 66.4 1,945 1,864 95.8 288 8 2.8Jul-19 5,312 3,561 67.0 1,950 1,868 95.8 288 7 2.4Aug-19 5,317 3,522 66.2 1,952 1,873 96.0 288 3 1.0Sep-19 5,332 3,537 66.3 1,955 1,885 96.4 289 4 1.4
$ indicates as on September 30,2019 Source: BSE, NSE and MSEI.
Table 29: Daily Volatility of Major Indices (Per cent) Year / Month BSE Sensex BSE 100 BSE 500 Nifty 50 Nifty Next
50 Nifty 500 SX40
2018-19 0.77 0.79 0.80 0.78 1.02 0.81 0.772019-20$ 1.03 1.05 1.03 1.04 1.09 1.03 1.04Apr-19 0.69 0.64 0.61 0.66 0.57 0.60 0.71May-19 1.14 1.13 1.12 1.10 1.09 1.10 1.13Jun-19 0.76 0.77 0.74 0.75 0.88 0.72 0.76Jul-19 0.69 0.76 0.77 0.72 0.97 0.76 0.70Aug-19 1.06 1.06 1.06 1.04 1.09 1.03 2.12Sep-19 1.65 1.68 1.64 1.61 1.61 1.59 1.68
Note: Volatility is calculated as the standard deviation of the natural log of daily returns in indices for the respective period. $ indicates as on September 30,2019Source: BSE, MSEI and NSE.
OCTOBER 2019 SEBI BULLETIN 2019
853
Tabl
e 30
: Per
cen
tage
Sha
re o
f To
p ‘N
’ Sec
uriti
es/M
embe
rs in
Tur
nove
r of
Cas
h Se
gmen
t (Pe
r cen
t)Ye
ar/
Mon
thB
SEN
SEM
SEI
Top
510
2550
100
510
2550
100
510
2550
100
Secu
ritie
s20
18-1
99.
516
.231
.144
.360
.211
.720
.436
.752
.670
.998
.910
00.
00.
00.
020
19-2
0$12
.720
.436
.752
.268
.415
.125
.944
.160
.278
.397
.510
010
0.0
100.
010
0.0
Apr
-19
16.8
26.9
42.9
56.3
70.3
14.9
25.0
43.0
59.5
76.7
99.5
100
0.0
0.0
0.0
May
-19
13.6
20.9
37.2
51.5
67.9
14.7
24.3
43.4
59.1
77.8
100.
010
010
0.0
100.
010
0.0
Jun-
1917
.124
.540
.555
.671
.315
.925
.943
.259
.378
.399
.910
010
0.0
100.
010
0.0
Jul-1
913
.723
.040
.255
.472
.115
.526
.346
.462
.880
.810
0.0
100
100.
010
0.0
100.
0A
ug-1
943
.965
.710
0.2
126.
715
3.3
18.0
29.6
49.1
65.5
82.3
200.
020
020
0.0
200.
020
0.0
Sep-
190.
00.
00.
00.
00.
016
.328
.849
.064
.680
.810
0.0
100
100.
010
0.0
100.
0M
embe
rs20
18-1
924
.238
.461
.073
.584
.522
.534
.354
.672
.485
.794
.710
00.
00.
00.
020
19-2
0$0.
00.
00.
00.
00.
025
.438
.859
.176
.387
.980
.610
010
0.0
100.
010
0.0
Apr
-19
31.2
46.0
62.9
74.5
84.5
25.0
37.2
57.3
74.1
86.6
88.3
100
0.0
0.0
0.0
May
-19
33.5
45.6
62.9
73.9
84.2
24.6
38.5
59.3
76.7
88.2
88.8
100
100.
010
0.0
100.
0Ju
n-19
30.1
43.3
63.6
75.4
85.4
25.6
39.2
59.4
76.7
87.8
93.1
100
100.
010
0.0
100.
0Ju
l-19
34.7
49.5
68.6
78.5
86.9
25.7
39.2
59.2
76.1
87.9
81.7
100
100.
010
0.0
100.
0A
ug-1
961
.889
.213
5.5
158.
317
6.8
25.6
38.9
60.3
77.7
88.8
198.
920
020
0.0
200.
020
0.0
Sep-
1938
.054
.272
.081
.189
.026
.040
.160
.677
.288
.310
0.0
100
100.
010
0.0
100.
0N
otes
: 1.
Dat
a fo
r Top
N s
crip
s ha
s be
en c
ompi
led
for a
ll m
arke
ts e
xcep
t Auc
tion
mar
ket &
Ret
ail D
ebt M
arke
t and
incl
udes
ser
ies
EQ
, BE
,BT,
BL
and
IL.
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE, N
SE a
nd M
SEI.
Tabl
e 31
: Set
tlem
ent S
tatis
tics
for C
ash
Segm
ent o
f IC
CL
Year
/
Mon
th
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Del
iver
ed
Qua
ntity
(L
akh)
Per c
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
)
Per c
ent o
f D
eliv
ered
Va
lue
to T
otal
T
urno
ver
Del
iver
ed
Qua
ntity
in
Dem
at
Mod
e (L
akh)
Per c
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
(`
cror
e)
Per c
ent
of D
emat
D
eliv
ered
Va
lue
to T
otal
D
eliv
ered
Va
lue
Shor
t D
eliv
ery
(Auc
tione
d qu
antit
y)
(Lak
h)
Per c
ent
of S
hort
D
eliv
ery
to D
eliv
ery
Qua
ntity
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$
1,47
72,
57,3
571,
16,9
4442
.13,
16,8
7796
,336
30.4
83,8
5888
.995
,923
99.6
154
0.18
36,7
3696
,454
215
Apr
-19
255
59,5
1549
,994
84.0
56,8
6119
,548
34.4
16,9
6533
.919
,191
98.2
310.
1810
,404
19,5
7020
8M
ay-1
928
846
,113
16,5
9236
.061
,680
19,0
0130
.816
,534
99.7
18,9
4499
.735
0.21
6,30
619
,024
210
Jun-
1921
137
,459
12,6
8433
.947
,381
14,7
9231
.212
,684
100.
014
,792
100.
024
0.19
7,41
914
,809
211
Jul-1
922
038
,954
14,3
6836
.948
,101
16,5
2934
.414
,368
100.
016
,529
100.
022
0.16
5,34
516
,548
212
Aug
-19
241
38,4
4012
,426
32.3
51,8
2812
,503
24.1
12,4
2610
0.0
12,5
0310
0.0
170.
143,
756
12,5
1921
4Se
p-19
263
36,8
7610
,880
29.5
51,0
2613
,963
27.4
10,8
8010
0.0
13,9
6310
0.0
240.
223,
505
13,9
8421
5
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19So
urce
: IC
CL.
OCTOBER 2019 SEBI BULLETIN 2019
854
Tabl
e 32
: Set
tlem
ent S
tatis
tics
for C
ash
Segm
ent o
f N
SCC
L
Year
/
Mon
th
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Del
iver
ed
Qua
ntity
(L
akh)
Per c
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 (`
cro
re)
Per c
ent o
f D
eliv
ered
Va
lue
to T
otal
T
urno
ver
Del
iver
ed
Qua
ntity
in
Dem
at
Mod
e (L
akh)
Per c
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)
Per c
ent
of D
emat
D
eliv
ered
Va
lue
to T
otal
D
eliv
ered
Va
lue
Shor
t D
eliv
ery
(Auc
tione
d qu
antit
y)
(Lak
h)
Per c
ent
of S
hort
D
eliv
ery
to D
eliv
ery
Qua
ntity
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
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$15
,890
21,8
4,44
74,
62,8
8521
.243
,26,
376
9,70
,032
22.4
4,62
,148
100.
09,
69,4
0210
0.0
737
0.2
2,76
,169
9,70
,032
287
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
Jun-
192,
233
3,10
,165
62,8
6520
.36,
10,4
351,
44,4
8323
.762
,723
100.
01,
44,3
5210
0.0
142
0.2
44,3
341,
44,4
8327
8Ju
l-19
2,83
83,
84,1
5978
,884
20.5
7,59
,244
1,60
,923
21.2
78,7
5910
0.0
1,60
,796
100.
012
50.
241
,430
1,60
,923
281
Aug
-19
2,97
84,
02,9
0878
,478
19.5
7,47
,665
1,56
,797
21.0
78,3
5810
0.0
1,56
,703
100.
012
00.
246
,762
1,56
,797
284
Sep-
192,
940
4,03
,768
75,7
3718
.87,
69,7
841,
59,6
6420
.775
,603
100.
01,
59,6
6410
0.0
134
0.2
50,1
701,
59,6
6428
7Se
ttlem
ent S
tatis
tics
for s
ettle
men
t typ
e N
, exc
ludi
ng C
M S
erie
s IL
& B
L $
indi
cate
s as
on
Sept
embe
r 30,
2019
Sour
ce: N
SCC
L
Tabl
e 33
: Set
tlem
ent S
tatis
tics
for C
ash
Segm
ent o
f M
CC
IL
Mon
th
Sort
ing
No.
of
Trad
es
(Lak
h)
Trad
ed
Qua
ntity
(L
akh)
Del
iver
ed
Qua
ntity
(L
akh)
Per c
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
)
Per c
ent o
f D
eliv
ered
Va
lue
to T
otal
T
urno
ver
Del
iver
ed
Qua
ntity
in
Dem
at
Mod
e (L
akh)
Per c
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)
Per c
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
1915
1414
100.
030
3010
014
100
3010
030
300.
320
19-2
0$19
6414
1410
0.0
2625
100
1410
025
100
2626
0.4
Apr
-19
227
44
100.
07
710
04
100
710
07
70.
3M
ay-1
918
64
410
0.0
77
100
410
07
100
77
0.4
Jun-
1915
13
399
.96
610
03
100
610
06
60.
4Ju
l-19
550
22
92.2
44
88.6
210
04
100
44
0.4
Aug
-19
850
22
83.5
11
65.0
210
01
100
11
0.3
Sep-
190.
01
034
.11
039
.10
100.
00
100.
00.
40.
30.
3$
indi
cate
s as
on
Sept
embe
r 30,
201
9So
urce
: MC
CIL
Tabl
e 34
: Tre
nds
in E
quity
Der
ivat
ives
Seg
men
t at B
SE (T
urno
ver i
n N
otio
nal V
alue
)
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
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
Tur
nove
r (`
cro
re)
No.
of
Con
trac
tsT
urno
ver
(` c
rore
)N
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
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$12
22,
917
275
1,38
270
00
00
266
2019
715
4,76
238
057
4A
pr-1
919
71
514
00
00
00
00
584
60
May
-19
2212
128
20
00
00
00
040
37
1Ju
n-19
194
016
10
00
00
00
020
26
1Ju
l-19
232
09
10
00
00
00
011
13
0A
ug-1
920
91
357
190
00
00
00
036
620
493
Sep-
1919
2,88
327
292
143
00
00
266
2019
715
4,26
735
057
4N
ote:
1.
Not
iona
l Tur
nove
r = (S
trik
e Pr
ice
+ P
rem
ium
) * Q
uant
ity.
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE.
OCTOBER 2019 SEBI BULLETIN 2019
855
Tabl
e 35
: Tre
nds
in E
quity
Der
ivat
ives
Seg
men
t at N
SE (T
urno
ver i
n N
otio
nal V
alue
)
Year
/
Mon
th
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$
122
4,42,5
4,364
32,03
,444
12,80
,10,73
973
,71,33
01,1
6,41,7
1,906
7,88,9
0,823
98,57
,05,52
36,5
5,80,5
006,2
0,64,4
1338
,43,56
73,6
6,55,7
3821
,14,07
52,4
2,08,6
2,683
16,10
,03,73
844
,94,16
93,0
0,577
Apr-1
919
55,21
,413
4,06,2
191,8
8,19,0
9111
,59,12
816
,10,93
,858
1,08,6
0,276
13,77
,19,00
491
,70,37
099
,36,61
26,5
1,295
50,37
,643
3,07,9
9833
,81,27
,621
2,25,5
5,286
43,97
,035
3,00,0
28Ma
y-19
2278
,95,35
75,8
8,154
2,36,6
0,383
13,70
,551
17,87
,71,37
11,2
4,29,7
1615
,07,93
,849
1,01,9
9,786
1,00,4
8,031
6,33,6
4155
,75,14
13,2
4,608
37,67
,44,13
22,5
5,46,4
5740
,00,08
92,7
8,172
Jun-19
1960
,04,64
74,5
3,616
1,90,0
2,686
10,74
,674
17,15
,31,27
01,2
0,62,9
7215
,25,02
,324
1,05,6
8,663
86,43
,189
5,10,2
7453
,35,15
12,9
5,240
36,30
,19,26
72,4
9,65,4
3837
,81,40
12,6
7,478
Jul-19
2368
,96,92
05,0
8,570
2,20,3
6,758
13,13
,831
19,74
,67,31
81,3
7,80,6
6417
,23,86
,260
1,17,7
5,969
1,14,6
6,085
7,25,6
6371
,95,11
54,3
4,765
41,74
,48,45
62,8
5,39,4
6247
,24,86
53,1
2,489
Aug-1
920
87,43
,443
6,06,5
542,2
2,57,6
9612
,06,91
723
,57,38
,134
1,53,7
0,795
19,19
,54,27
91,2
2,58,4
881,1
0,25,8
796,5
4,814
68,83
,458
3,80,2
1047
,66,02
,889
3,04,7
7,779
41,92
,601
2,73,7
58Se
p-19
1991
,92,58
46,4
0,331
2,22,3
4,125
12,46
,228
21,95
,69,95
51,4
3,86,4
0018
,03,49
,807
1,16,0
7,223
1,09,4
4,617
6,67,8
8066
,29,23
03,7
1,253
44,89
,20,31
82,8
9,19,3
1644
,94,16
93,0
0,577
Not
e:
1. N
otio
nal T
urno
ver =
(Str
ike
Pric
e +
Pre
miu
m) *
Qua
ntity
.$
indi
cate
s as
on
Sept
embe
r 30,
2019
Sour
ce: N
SE.
Tabl
e 36
: Set
tlem
ent S
tatis
tics
in E
quity
Der
ivat
ives
Seg
men
t at B
SE a
nd N
SE (`
cro
re)
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$1,
196
7925
21
1,52
821
68,1
8785
010
,465
1,47
880
,980
2,04
6A
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
Jun-
190
00
00
208,
091
671,
250
646
10,0
531,
979
Jul-1
920
020
040
2111
,502
861,
570
7013
,227
1,99
8A
ug-1
938
036
136
055
121
13,4
8723
51,
894
150
15,7
672,
024
Sep-
1939
7.88
21.6
8548
.305
0.21
546
8.08
510
.395
14,9
6720
12,
130
410
17,7
082,
046
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE a
nd N
SE
Tabl
e 37
: Cat
egor
y-w
ise
Shar
e of
Tur
nove
r & O
pen
Inte
rest
in E
quity
Der
ivat
ive
Segm
ent o
f B
SE
Year
/Mon
thPe
rcen
tage
Sha
re in
Tur
nove
rPe
rcen
tage
Sha
re in
Ope
n In
tere
stPr
oFP
IM
utua
l Fu
nds
Ban
ksO
ther
sPr
oFP
IM
utua
l Fu
nds
Ban
ksO
ther
s20
18-1
92.
00.
00.
00.
098
.00.
00.
00.
00.
010
0.0
2019
-20$
38.1
0.0
0.0
0.0
61.9
30.9
0.0
0.0
0.0
69.1
Apr
-19
16.3
0.0
0.0
0.0
83.7
0.0
0.0
0.0
0.0
100.
0M
ay-1
925
.10.
00.
00.
074
.98.
50.
00.
00.
091
.5Ju
n-19
23.0
0.0
0.0
0.0
77.0
0.0
0.0
0.0
0.0
100.
0Ju
l-19
22.5
0.0
0.0
0.0
77.5
0.0
0.0
0.0
0.0
100.
0A
ug-1
957
.10.
00.
00.
042
.936
.70.
00.
00.
063
.3Se
p-19
84.9
0.0
0.0
0.0
15.2
30.9
0.0
0.0
0.0
69.1
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE.
OCTOBER 2019 SEBI BULLETIN 2019
856
Tabl
e 38
: Cat
egor
y-w
ise
Shar
e of
Tur
nove
r & O
pen
Inte
rest
in E
quity
Der
ivat
ive
Segm
ent o
f N
SE
Year
/Mon
thPe
rcen
tage
Sha
re in
Tur
nove
rPe
rcen
tage
Sha
re in
Ope
n In
tere
st
Pro
FPIs
Mut
ual
Fund
sB
anks
Oth
ers
Pro
FPIs
Mut
ual
Fund
sB
anks
Oth
ers
2018
-19
37.8
13.6
0.4
0.0
48.2
13.7
29.8
13.2
0.0
43.3
2019
-20$
33.1
19.6
0.3
0.0
47.0
14.2
25.7
13.7
0.0
46.4
Apr
-19
32.9
19.3
0.3
0.0
47.5
13.5
26.9
12.8
0.0
46.8
May
-19
32.4
19.8
0.3
0.0
47.6
11.5
28.4
14.1
0.0
46.0
Jun-
1931
.620
.30.
30.
047
.813
.825
.114
.50.
046
.6Ju
l-19
33.8
19.3
0.3
0.0
46.7
16.0
23.7
12.5
0.0
47.8
Aug
-19
33.8
19.9
0.3
0.0
46.1
13.0
28.6
14.8
0.0
43.5
Sep-
1933
.919
.40.
30.
046
.414
.225
.713
.70.
046
.4$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: NSE
.
Tabl
e 39
: Ins
trum
ent-
wis
e T
urno
ver i
n In
dex
Der
ivat
ives
at B
SE
Tur
nove
r (in
Per
cent
age)
Year
/Mon
thB
SE 3
0 SE
NSE
XB
SE
SEN
SEX
50
BSE
B
AN
KE
X
BSE
OIL
&
GA
S IN
DE
X
BSE
TE
CK
IN
DE
XB
SE10
0H
AN
G
SEN
G I
ndex
Fu
ture
s
MIC
EX
In
dex
Futu
res
FTSE
/JS
E T
op 4
0 Fu
ture
s
IBO
VE
SPA
Fu
ture
s
2018
-19
41.3
0.0
58.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2019
-20$
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0A
pr-1
910
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
May
-19
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0Ju
n-19
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0Ju
l-19
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0A
ug-1
910
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Sep-
1910
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE.
Tabl
e 40
: Ins
trum
ent-
wis
e T
urno
ver i
n In
dex
Der
ivat
ives
at N
SE
T
urno
ver (
in P
erce
ntag
e)Ye
ar/M
onth
NIF
TY
NIF
TY
ITB
AN
KN
IFT
YN
IFT
Y-M
ID50
NIF
TY
PSE
NIF
TY
IN-
FRA
FTSE
100
S&P5
00D
JIA
Indi
a V
IXN
IFT
YCPS
E
2018
-19
26.2
0.0
73.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2019
-20$
39.1
0.0
60.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Apr
-19
32.7
0.0
67.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
May
-19
40.2
0.0
59.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Jun-
1937
.40.
062
.60.
00.
00.
00.
00.
00.
00.
00.
0Ju
l-19
41.1
0.0
58.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Aug
-19
41.5
0.0
58.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Sep-
1940
.30.
059
.70.
00.
00.
00.
00.
00.
00.
00.
0$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: NSE
.
OCTOBER 2019 SEBI BULLETIN 2019
857
Tabl
e 38
: Cat
egor
y-w
ise
Shar
e of
Tur
nove
r & O
pen
Inte
rest
in E
quity
Der
ivat
ive
Segm
ent o
f N
SE
Year
/Mon
thPe
rcen
tage
Sha
re in
Tur
nove
rPe
rcen
tage
Sha
re in
Ope
n In
tere
st
Pro
FPIs
Mut
ual
Fund
sB
anks
Oth
ers
Pro
FPIs
Mut
ual
Fund
sB
anks
Oth
ers
2018
-19
37.8
13.6
0.4
0.0
48.2
13.7
29.8
13.2
0.0
43.3
2019
-20$
33.1
19.6
0.3
0.0
47.0
14.2
25.7
13.7
0.0
46.4
Apr
-19
32.9
19.3
0.3
0.0
47.5
13.5
26.9
12.8
0.0
46.8
May
-19
32.4
19.8
0.3
0.0
47.6
11.5
28.4
14.1
0.0
46.0
Jun-
1931
.620
.30.
30.
047
.813
.825
.114
.50.
046
.6Ju
l-19
33.8
19.3
0.3
0.0
46.7
16.0
23.7
12.5
0.0
47.8
Aug
-19
33.8
19.9
0.3
0.0
46.1
13.0
28.6
14.8
0.0
43.5
Sep-
1933
.919
.40.
30.
046
.414
.225
.713
.70.
046
.4$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: NSE
.
Tabl
e 39
: Ins
trum
ent-
wis
e T
urno
ver i
n In
dex
Der
ivat
ives
at B
SE
Tur
nove
r (in
Per
cent
age)
Year
/Mon
thB
SE 3
0 SE
NSE
XB
SE
SEN
SEX
50
BSE
B
AN
KE
X
BSE
OIL
&
GA
S IN
DE
X
BSE
TE
CK
IN
DE
XB
SE10
0H
AN
G
SEN
G I
ndex
Fu
ture
s
MIC
EX
In
dex
Futu
res
FTSE
/JS
E T
op 4
0 Fu
ture
s
IBO
VE
SPA
Fu
ture
s
2018
-19
41.3
0.0
58.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2019
-20$
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0A
pr-1
910
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
May
-19
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0Ju
n-19
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0Ju
l-19
100.
00.
00.
00.
00.
00.
00.
00.
00.
00.
0A
ug-1
910
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Sep-
1910
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE.
Tabl
e 40
: Ins
trum
ent-
wis
e T
urno
ver i
n In
dex
Der
ivat
ives
at N
SE
T
urno
ver (
in P
erce
ntag
e)Ye
ar/M
onth
NIF
TY
NIF
TY
ITB
AN
KN
IFT
YN
IFT
Y-M
ID50
NIF
TY
PSE
NIF
TY
IN-
FRA
FTSE
100
S&P5
00D
JIA
Indi
a V
IXN
IFT
YCPS
E
2018
-19
26.2
0.0
73.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2019
-20$
39.1
0.0
60.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Apr
-19
32.7
0.0
67.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
May
-19
40.2
0.0
59.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Jun-
1937
.40.
062
.60.
00.
00.
00.
00.
00.
00.
00.
0Ju
l-19
41.1
0.0
58.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Aug
-19
41.5
0.0
58.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Sep-
1940
.30.
059
.70.
00.
00.
00.
00.
00.
00.
00.
0$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: NSE
.
Tabl
e 41
: Tre
nds
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 th
e 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
Tur
nove
r (`
cro
re)
No.
of
Con
trac
tsT
urno
ver
(` c
rore
)N
o. o
f C
ontr
acts
Va
lue
(`
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$
121
19,5
5,38
,599
13,7
2,89
813
,99,
02,8
259,
95,7
3418
,61,
93,2
0312
,85,
430
52,1
6,34
,627
36,5
4,06
18,
16,0
695,
770
Apr
-19
182,
84,5
4,55
21,
98,2
272,
76,4
8,06
71,
96,5
432,
72,0
0,04
81,
85,9
238,
33,0
2,66
75,
80,6
9212
,77,
029
8,92
0M
ay-1
922
3,52
,94,
048
2,46
,818
2,73
,58,
009
1,95
,649
3,05
,77,
868
2,09
,874
9,32
,29,
925
6,52
,341
5,57
,625
3,88
9Ju
n-19
193,
02,0
4,51
72,
10,1
932,
64,1
5,48
41,
86,4
722,
71,3
5,83
01,
86,3
788,
37,5
5,83
15,
83,0
436,
68,3
474,
606
Jul-1
923
3,01
,60,
271
2,07
,891
2,84
,56,
799
1,99
,480
3,25
,30,
362
2,21
,665
9,11
,47,
432
6,29
,036
5,56
,310
3,83
3A
ug-1
920
3,65
,24,
837
2,60
,351
1,22
,95,
963
88,7
543,
94,1
3,76
12,
75,2
058,
82,3
4,56
16,
24,3
1113
,25,
358
9,50
9Se
p-19
193,
49,0
0,37
42,
49,4
171,
77,2
8,50
31,
28,8
352,
93,3
5,33
42,
06,3
868,
19,6
4,21
15,
84,6
388,
16,0
695,
770
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE.
Tabl
e 42
: Tre
nds
in C
urre
ncy
Der
ivat
ives
Seg
men
t at N
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
end
of M
onth
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
f C
ontr
acts
Valu
e (`
cro
re)
No.
of
Con
trac
tsT
urno
ver
(` c
rore
)N
o. o
f C
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$12
131
,06,
55,9
7822
,18,
967
16,6
3,42
,770
11,7
5,53
716
,18,
11,8
8511
,35,
006
63,8
8,10
,633
45,2
9,51
145
,07,
511
32,1
07A
pr-1
918
5,09
,44,
880
3,61
,285
2,51
,10,
750
1,75
,703
2,51
,40,
409
1,74
,368
10,1
1,96
,039
7,11
,355
50,6
2,68
135
,528
May
-19
225,
00,8
9,49
83,
56,7
662,
41,2
0,86
41,
69,8
482,
24,6
5,60
11,
56,6
459,
66,7
5,96
36,
83,2
5934
,08,
947
24,0
32Ju
n-19
194,
26,2
5,15
23,
01,7
552,
23,2
4,46
61,
56,0
281,
91,9
2,56
61,
33,3
478,
41,4
2,18
45,
91,1
2940
,38,
522
28,1
28Ju
l-19
234,
47,9
8,62
93,
14,6
382,
42,3
9,86
11,
67,8
472,
24,3
0,82
11,
54,4
299,
14,6
9,31
16,
36,9
1442
,29,
331
29,3
47A
ug-1
920
6,71
,72,
392
4,83
,914
3,50
,94,
227
2,51
,281
4,11
,58,
636
2,91
,830
14,3
4,25
,255
10,2
7,02
554
,62,
090
39,3
19Se
p-19
195,
50,2
5,42
74,
00,6
093,
54,5
2,60
22,
54,8
313,
14,2
3,85
22,
24,3
8812
,19,
01,8
818,
79,8
2845
,07,
511
32,1
07N
otes
: 1.
Tra
ding
Val
ue :-
For
Fut
ures
, Val
ue o
f co
ntra
ct =
Tra
ded
Qty
*Tra
ded
Pric
e.
2. F
or O
ptio
ns, V
alue
of
cont
ract
= T
rade
d Q
ty*(
Strik
e Pr
ice+
Trad
ed P
rem
ium
)$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: NSE
.
Tabl
e 43
: Tre
nds
in C
urre
ncy
Der
ivat
ives
Seg
men
t at M
SEI
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
heen
d of
Mon
thN
o. o
fC
ontr
acts
Tur
nove
r(`
cro
re)
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$12
116
,29,
926
11,5
541,
92,0
611,
430
2,11
,126
1,55
420
,33,
113
14,5
3811
,839
87A
pr-1
918
2,43
,494
1,70
562
,239
444
90,5
3763
23,
96,2
702,
780
19,4
1214
1M
ay-1
922
1,60
,107
1,14
359
,875
436
43,8
4632
42,
63,8
281,
903
13,5
3710
0Ju
n-19
192,
55,9
021,
801
14,5
0511
115
,570
120
2,85
,977
2,03
210
,832
81Ju
l-19
232,
57,0
991,
791
19,7
0715
223
,395
182
3,00
,201
2,12
59,
996
74A
ug-1
920
2,89
,672
2,07
517
,791
146
18,7
8814
93,
26,2
512,
369
16,4
2012
1Se
p-19
194,
23,6
523,
040
17,9
4414
018
,990
148
4,60
,586
3,32
911
,839
87$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: MSE
I.
OCTOBER 2019 SEBI BULLETIN 2019
858
Tabl
e 44
: Set
tlem
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
M
Settl
emen
tFi
nal
Settl
emen
tPr
emiu
m
Settl
emen
tE
xerc
ise
Settl
emen
tM
TM
Se
ttlem
ent
Fina
l Se
ttlem
ent
Prem
ium
Se
ttlem
ent
Exe
rcis
e Se
ttlem
ent
MT
M
Settl
emen
tFi
nal
Settl
emen
tPr
emiu
m
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$
3262
8424
4642
5,83
440
8176
640
240
5,03
765
30
068
Apr
-19
363
640
37
779
513
610
326
648
150
00
15M
ay-1
941
413
526
996
262
113
104
2776
510
10
010
Jun-
1924
210
265
452
027
25
7426
377
40
00
4Ju
l-19
224
525
35
487
273
279
2437
82
00
02
Aug
-19
1058
3843
012
1,53
912
5831
160
861,
535
171
00
18Se
p-19
961
1256
86
1,54
711
4418
120
511,
333
171
00
18$
indi
cate
s as
on
Sept
embe
r 30,
2019
Sour
ce: B
SE, N
SE a
nd M
SEI.
Tabl
e 45
: Ins
trum
ent-
wis
e T
urno
ver i
n C
urre
ncy
Der
ivat
ive
Segm
ent o
f B
SE
Year
/M
onth
Tur
nove
r (`
cror
e)O
pen
Inte
rest
as
on la
st d
ay o
f th
e m
onth
(in
lots
)U
SDIN
RE
UR
INR
GB
PIN
RJP
YIN
RE
UR
USD
GB
PUSD
USD
JPY
USD
INR
EU
RIN
RG
BPI
NR
JPY
INR
EU
RU
SDG
BPU
SDU
SDJP
Y20
18-2
019
73,3
6,63
65,
354
4,94
11,
322
2,71
31,
275
337,
09,5
9487
31,
332
354
09
020
19-2
0$36
,52,
036
431
781
812
00
08,
13,7
7681
692
655
10
00
Apr
-19
5,80
,468
4613
940
00
012
,75,
372
308
946
403
00
0M
ay-1
96,
52,0
4754
137
103
00
05,
48,9
1051
731
67,
882
00
0Ju
n-19
5,82
,770
4647
180
00
06,
64,9
7468
717
62,
510
00
0Ju
l-19
6,28
,768
7812
863
00
05,
53,6
4236
51,
502
801
00
0A
ug-1
96,
23,9
3866
107
199
00
00
00
00
00
Sep-
195,
84,0
4714
122
322
70
00
8,13
,776
816
926
551
00
01.
U
SDIN
R in
clud
es F
utur
es a
nd o
ptio
ns b
oth
othe
r cur
renc
ys h
ave
only
futu
res
till F
ebru
ary
26, 2
018.
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.
UR
USD
, GB
PUSD
, USD
JPY
wer
laun
ched
in F
eb 2
018
$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: BSE
.
Tabl
e 46
: Ins
trum
ent-
wis
e T
urno
ver i
n C
urre
ncy
Der
ivat
ives
of
NSE
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
1978
7420
19-2
0$42
,69,
786
73,1
971,
39,5
7334
,821
6,51
15,
488
135
42,9
2,14
964
,824
41,1
7549
,110
5764
524
3717
1A
pr-1
96,
73,9
8110
,092
21,9
813,
520
897
873
1149
,11,
962
49,3
9532
,413
23,6
6642
550
2631
64M
ay-1
96,
39,2
9211
,361
24,3
416,
230
1,04
198
212
31,7
7,15
752
,409
62,7
2053
,150
5255
110
629
331
Jun-
195,
53,6
0211
,372
18,2
365,
970
985
924
4138
,28,
456
62,4
6447
,015
46,5
8750
906
2575
519
Jul-1
95,
96,0
5911
,587
22,8
404,
409
1,10
688
725
40,1
4,26
954
,927
64,4
0236
,237
5160
077
9010
6A
ug-1
99,
82,5
1114
,347
20,6
307,
726
1,16
162
030
52,3
0,53
062
,687
41,5
4266
,987
5537
048
0816
6Se
p-19
8,24
,342
14,4
3731
,545
6,96
71,
320
1,20
216
42,9
2,14
964
,824
41,1
7549
,110
5764
524
3717
11.
C
ross
Cur
renc
y w
as in
trod
uced
wef
Feb
27,
201
8
2.
Opt
ions
con
trac
ts o
n E
UR
INR
,GB
PIN
R,JP
YIN
R w
ere
intr
oduc
ed w
ef F
eb 2
7, 2
018
$
indi
cate
s as
on
Sept
embe
r 30,
2019
So
urce
: NSE
.
OCTOBER 2019 SEBI BULLETIN 2019
859
Tabl
e 47
: Ins
trum
ent-
wis
e T
urno
ver i
n C
urre
ncy
Der
ivat
ive
Segm
ent o
f M
SEI
Ye
ar/M
onth
Tur
nove
r ( `
cro
re)
Ope
n In
tere
st a
s on
last
day
of
the
mon
th(in
lots
)U
SDIN
RE
UR
INR
GB
PIN
RJP
YIN
RU
SDIN
RE
UR
INR
GB
PIN
RJP
YIN
R20
18-1
945
,388
683
1,14
422
18,6
4953
76
2019
-20$
13,0
0371
681
55
10,1
0114
1,72
40
Apr
-19
2,66
060
601
16,1
841,
593
1,62
96
May
-19
1,59
713
816
71
9,71
42,
034
1,74
544
Jun-
191,
784
124
123
06,
884
1,80
92,
139
0Ju
l-19
1,78
615
018
80
5,90
71,
925
2,15
77
Aug
-19
2,08
014
014
82
14,1
4416
82,
104
4Se
p-19
3,09
710
412
80
10,1
0114
1,72
40
Dat
a in
clud
es N
otio
nal V
alue
for O
ptio
ns
E
xclu
des
data
of
Inte
rest
Rat
e Fu
ture
s
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
So
urce
: MSE
I.
Tabl
e 48
: Mat
urity
-wis
e T
urno
ver i
n C
urre
ncy
Der
ivat
ive
Segm
ent o
f B
SE (`
cro
re)
Year
/Mon
thC
urre
ncy
Futu
res
Cur
renc
y O
ptio
ns1
Mon
th2
Mon
th3
Mon
th>
3 M
onth
s1
Mon
th2
Mon
th3
Mon
th>
3 M
onth
s20
18-1
928
,21,
842
3,28
,322
9,82
61,
918
37,0
1,09
23,
15,3
071,
160
127
2019
-20$
11,9
3,47
51,
54,5
182,
432
136
19,1
3,59
31,
45,4
7969
0A
pr-1
91,
69,1
4424
,434
318
113,
27,2
5727
,355
40
May
-19
2,19
,385
23,7
3445
27
3,35
,662
24,2
1520
0Ju
n-19
1,80
,366
26,2
2325
76
3,14
,356
26,0
0210
0Ju
l-19
1,88
,459
18,9
0041
553
3,88
,505
26,3
5631
0A
ug-1
92,
18,4
1036
,027
487
272,
88,0
1020
,367
40
Sep-
192,
17,7
1125
,199
503
312,
59,8
0221
,185
00
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: B
SE.
Tabl
e 49
: Mat
urity
-wis
e T
urno
ver i
n C
urre
ncy
Der
ivat
ive
Segm
ent o
f N
SE (`
cro
re)
Ye
ar/M
onth
Cur
renc
y Fu
ture
Cur
renc
y O
ptio
ns1
Mon
th2
Mon
th
3 M
onth
> 3
Mon
ths
1 M
onth
2 M
onth
3 M
onth
> 3
Mon
ths
2018
-19
37,1
9,23
08,
28,4
8370
,717
36,4
9726
,46,
031
5,78
,571
2,42
,228
3,96
,595
2019
-20$
17,4
0,82
14,
31,5
9831
,169
15,3
7912
,14,
475
4,71
,031
1,89
,645
4,35
,393
Apr
-19
2,77
,113
74,4
016,
549
3,22
21,
89,4
0947
,930
42,2
7870
,453
May
-19
2,80
,202
69,0
005,
610
1,95
41,
76,6
3473
,280
27,9
7848
,601
Jun-
192,
30,0
1165
,885
3,92
71,
931
1,46
,994
69,1
6923
,267
49,9
44Ju
l-19
2,56
,558
52,3
693,
814
1,89
71,
47,2
8454
,369
32,0
7688
,547
Aug
-19
3,76
,351
98,4
486,
270
2,84
62,
84,8
741,
16,1
3730
,088
1,12
,012
Sep-
193,
20,5
8771
,495
4,99
93,
529
2,69
,279
1,10
,146
33,9
5865
,835
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: N
SE.
OCTOBER 2019 SEBI BULLETIN 2019
860
Table 50: Maturity-wise Turnover in Currency Derivative Segment of MSEI (` crore)
Year/Month
Currency Future Currency Options1 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 02019-20$ 10,717 837 0 0 2,919 65 0 0Apr-19 1,612 92 0 0 1,048 28 0 0May-19 1,044 98 0 0 745 16 0 0Jun-19 1,675 126 0 0 217 14 0 0Jul-19 1,730 61 0 0 334 0 0 0Aug-19 1,850 225 0 0 294 0 0 0Sep-19 2,805 235 0 0 281 8 0 0
$ indicates as on September 30,2019 Source: MSEI.
Table 51: Trading Statistics of Interest Rate Futures at BSE, NSE
Year/ MonthNo. of
Trading Days
BSE NSE
Interest Rate Futures Open Interest at the end of Interest Rate Futures Open Interest at
the end of
No. of Contracts
Traded Value (` crore)
No. of Contracts
Traded 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 2,0542019-20$ 121 30,04,062 60,966 1,29,129 2,694 92,81,452 1,90,284 1,90,842 3,978Apr-19 18 2,46,140 4,738 66,107 1,320 12,32,112 24,098 1,22,799 2,432May-19 22 4,33,988 8,498 60,668 1,255 11,45,026 22,662 1,40,085 2,849Jun-19 19 4,15,150 8,395 67,113 1,403 17,75,758 36,063 1,41,713 2,923Jul-19 23 7,84,301 16,198 81,493 1,748 21,93,597 46,067 1,56,910 3,349Aug-19 20 5,78,510 11,924 1,22,449 2,581 15,43,335 32,496 1,79,226 3,776Sep-19 19 5,45,973 11,213 1,29,129 2,694 13,91,624 28,898 1,90,842 3,978
$ indicates as on September 30,2019 Source: BSE, NSE.
Table 52: Settlement Statistics in Interest Rate Futures at BSE, NSE (` crore)
Year/ MonthBSE NSE
MTM Settlement
Physical Delivery Settlement
MTM Settlement
Physical Delivery Settlement
2018-19 309 14 635 132019-20$ 768 14 746 9Apr-19 58 1 64 2May-19 78 1 84 0Jun-19 106 2 119 2Jul-19 164 7 158 3Aug-19 164 2 149 2Sep-19 197 1 171 1
$ indicates as on September 30,2019 Source: NSE, BSE
OCTOBER 2019 SEBI BULLETIN 2019
861
Tabl
e 53
: Tre
nds
in F
orei
gn P
ortfo
lio I
nves
tmen
t
Year
/Mon
thG
ross
Pur
chas
e
(` c
rore
)G
ross
Sal
es
(` c
rore
s)N
et I
nves
tmen
t (`
cro
res)
Net
Inv
estm
ent
(US'
$ m
n.)
Cum
ulat
ive
Net
In
vest
men
t (U
S $
mn.
)
2018
-201
916
,40,
810
16,7
9,74
1-3
8,93
1-5
,499
2,92
1,53
6
2019
-202
0$9,
02,0
258,
63,1
0938
,916
5,58
425
3,73
8
Apr
-19
1,35
,800
1,19
,072
16,7
282,
407
250,
561
May
-19
1,72
,502
1,61
,132
11,3
701,
638
252,
199
Jun-
191,
51,5
331,
38,4
2213
,111
1,88
825
4,08
6
Jul-1
91,
44,2
001,
47,2
04-3
,003
-434
253,
653
Aug
-19
1,52
,516
1,58
,388
-5,8
71-8
5025
2,80
2
Sep-
191,
45,4
741,
38,8
926,
582
936
253,
738
$ in
dica
tes
up to
Sep
tem
ber 3
0,20
19
Sour
ce: N
SDL,
CD
SL
Tabl
e 54
: Not
iona
l Val
ue o
f O
ffsho
re D
eriv
ativ
e In
stru
men
ts (O
DIs
) com
pare
d to
Ass
ets U
nder
Cus
tody
(AU
C) o
f FP
Is/D
eem
ed F
PIs (
` cr
ore)
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.
3
2019
-20$
76,6
1175
,916
32,9
1,70
32.
32.
3
Apr
-19
81,2
2080
,362
33,5
5,04
52.
42.
4
May
-19
82,6
1982
,426
34,1
7,67
92.
42.
4
Jun-
1981
,913
81,0
9233
,81,
730
2.4
2.4
Jul-1
981
,082
80,3
2432
,03,
385
2.5
2.5
Aug
-19
79,0
8878
,409
31,9
8,32
92.
52.
5
Sept
-19
76,6
1175
,916
32,9
1,70
32.
32.
3N
otes
: 1.
Fi
gure
s ar
e co
mpi
led
base
d on
repo
rts
subm
itted
by
FPIs
/dee
med
FPI
s is
suin
g O
DIs
. 2.
C
olum
n 4
Figu
res
are
com
pile
d on
the
basi
s of
repo
rts
subm
itted
by
cust
odia
ns &
doe
s no
t inc
lude
s po
sitio
ns ta
ken
by F
PIs/
deem
ed F
PIs
in d
eriv
ativ
es.
3.
The
tota
l val
ue o
f O
DIs
exc
lude
s th
e un
hedg
ed p
ositi
ons
& p
ortfo
lio h
edgi
ng p
ositi
ons
take
n by
the
FPIs
/dee
med
FPI
s is
suin
g O
DIs
.
$
indi
cate
s up
to S
epte
mbe
r 30,
2019
So
urce
: SE
BI.
OCTOBER 2019 SEBI BULLETIN 2019
862
Tabl
e 55
: Ass
ets
unde
r the
Cus
tody
of
Cus
todi
ans
Ty
pe of
Cl
ient
FPIs
Fo
reig
n De
posit
ories
FDI
Inve
stmen
tsFo
reig
n Ve
ntur
e Ca
pital
In
vestm
ents
OCBs
NRI
sM
utua
l Fu
nds
Corp
orate
sBa
nks
Insu
ranc
e Co
mpa
nies
Loca
l Pe
nsio
n Fu
nds
Fina
ncial
In
stitu
tions
Othe
rsTo
tal
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
1,02,5
2,963
2019
-20$
9,508
32,91
,703
673,3
9,877
1,981
8,93,6
4220
439
,549
252,3
4562
92,9
571,7
0422
,34,05
650
894
,593
119
3,47,2
6478
517
,28,87
911
74,2
5,824
2555
,903
21,41
59,8
8,364
37,08
71,0
4,44,9
55
APR-
199,5
1833
,55,04
564
3,54,2
921,8
958,1
3,049
201
37,26
824
1,967
554
3,477
1,739
23,23
,169
499
1,02,7
6411
73,2
9,869
783
17,38
,755
126
4,27,4
2025
61,09
419
,296
7,95,7
0334
,841
1,03,4
3,872
MAY
-199,5
4934
,17,67
967
3,58,0
221,8
988,3
9,834
201
38,27
425
1,973
573
3,551
1,744
23,68
,188
501
1,04,2
2811
53,2
5,111
785
17,57
,182
126
4,36,1
6025
59,59
119
,682
8,23,0
6435
,291
1,05,3
2,857
JUN-
199,5
6533
,81,73
067
3,43,8
231,9
068,4
7,537
201
37,72
425
2,753
569
3,528
1,746
22,71
,356
501
1,05,5
9511
83,2
4,981
785
17,44
,290
126
3,99,6
3125
59,16
720
,151
8,83,4
5835
,785
1,04,0
5,574
JUL-
199,5
1732
,03,38
567
3,31,0
051,9
298,1
1,308
204
38,61
225
2,733
592
3,279
1,741
22,25
,602
502
96,72
812
03,4
0,755
785
16,80
,369
120
4,10,8
7025
57,07
020
,545
8,85,3
9236
,172
1,00,8
7,107
AUG-
199,5
4331
,98,32
967
3,25,2
721,9
508,4
9,489
205
38,95
525
2,767
614
2,914
1,745
22,09
,719
504
95,65
511
93,4
7,229
785
16,77
,061
117
4,15,8
4725
53,92
421
,031
9,49,9
5936
,730
1,01,6
7,119
SEP-
199,5
0832
,91,70
367
3,39,8
771,9
818,9
3,642
204
39,54
925
2,345
629
2,957
1,704
22,34
,056
508
94,59
311
93,4
7,264
785
17,28
,879
117
4,25,8
2425
55,90
321
,415
9,88,3
6437
,087
1,04,4
4,955
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.“Others”includePortfoliomanager,partnershipfirm,trusts,depositoryreceipts,AIFs,FCCB,H
UFs,Brokersetc.
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: C
usto
dian
s.
Tabl
e 56
: Tre
nds
in R
esou
rce
Mob
iliza
tion
by M
utua
l Fun
ds (`
cro
re)
Year
/
Mon
th
Gro
ss M
obili
satio
nR
edem
ptio
nNetInflow/Outflow
Ass
ets
at th
e E
nd o
f Pe
riod
Pvt.
Sect
orPu
blic
Se
ctor
Tota
lPv
t. Se
ctor
Publ
ic
Sect
orTo
tal
Pvt.
Sect
orPu
blic
Se
ctor
Tota
l
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
3
2019
-20$
97,5
9,31
221
,82,
057
1,19
,41,
369
97,3
4,14
721
,51,
751
1,18
,85,
898
25,1
6530
,306
55,4
7124
,50,
787
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
7
May
-19
18,7
5,77
24,
11,5
1822
,87,
291
18,1
2,44
53,
97,8
5622
,10,
301
63,3
2713
,663
76,9
9025
,93,
560
Jun-
1915
,37,
277
3,30
,203
18,6
7,48
016
,68,
163
3,59
,132
20,2
7,29
4-1
30,8
86-2
8,92
9-1
59,8
1424
,25,
040
Jul-1
918
,92,
207
4,16
,448
23,0
8,65
518
,25,
965
3,95
,601
22,2
1,56
766
,241
20,8
4787
,088
24,5
3,62
6
Aug
-19
15,6
8,56
43,
52,0
2819
,20,
592
14,8
4,41
33,
33,6
4118
,18,
053
84,1
5218
,387
1,02
,538
25,4
7,59
4
Sep-
1913
,78,
402
3,05
,433
16,8
3,83
615
,01,
962
3,33
,664
18,3
5,62
6-1
23,5
59-2
8,23
1-1
51,7
9024
,50,
787
$ in
dica
tes
as o
n Se
ptem
ber 3
0,20
19
Sour
ce: S
EB
I.
OCTOBER 2019 SEBI BULLETIN 2019
863
Table 57: Status of Mutual Funds Industry in India
Sr. No. Scheme Category
2019-20$ Sep-19
No. of schemes
No. of Folios
Funds mobilized
Repur-chase/
Redemp-tio
Net Inflow(+ve)/ Outflow
(-ve)
Net As-sets Un-der Man-agement
as on
No. of schemes
No. of Folios
Funds mobilized
Repur-chase/ Re-
demptio
Net Inflow(+ve)/ Outflow
(-ve)
Net As-sets Un-der Man-agement
as onA Open ended SchemesI Income/Debt Oriented Schemes 314 5,679,987 11,699,717 11,685,087 14,630 1,015,648 314 5,679,987 1,649,720 1,807,753 -158,033 1,015,6481 Overnight Fund 25 29,173 318,634 316,341 2,293 13,852 25 29,173 101,931 103,536 -1,605 13,8522 Liquid Fund 40 1,697,147 11,065,559 11,075,491 -9,932 388,425 40 1,697,147 1,501,030 1,641,762 -140,731 388,4253 Ultra Short Duration Fund 26 654,458 85,473 78,524 6,949 86,549 26 654,458 12,450 19,234 -6,783 86,5494 Low Duration Fund 26 925,121 52,865 56,555 -3,690 84,203 26 925,121 7,361 9,493 -2,131 84,2035 Money Market Fund 19 318,699 79,004 69,972 9,032 64,054 19 318,699 10,586 16,864 -6,278 64,0546 Short Duration Fund 28 296,054 23,116 19,543 3,573 85,582 28 296,054 4,385 3,240 1,145 85,5827 Medium Duration Fund 16 226,892 3,214 9,188 -5,974 32,359 16 226,892 496 1,220 -723 32,3598 Medium to Long Duration Fund 13 108,815 1,196 1,661 -465 9,912 13 108,815 378 475 -97 9,9129 Long Duration Fund 2 25,081 308 152 156 1,371 2 25,081 40 74 -34 1,37110 Dynamic Bond Fund 28 215,566 2,703 4,144 -1,441 18,878 28 215,566 308 534 -226 18,87811 Corporate Bond Fund 20 274,070 24,302 12,412 11,890 72,084 20 274,070 3,150 2,585 565 72,08412 Credit Risk Fund 21 526,733 3,738 19,874 -16,136 66,057 21 526,733 608 2,959 -2,351 66,05713 Banking and PSU Fund 18 114,728 23,605 5,883 17,722 52,533 18 114,728 3,400 1,335 2,065 52,53314 Gilt Fund 21 97,313 2,760 2,160 600 8,712 21 97,313 656 355 301 8,712
15 Gilt Fund with 10 year constant duration 4 26,613 389 249 140 699 4 26,613 58 55 3 699
16 Floater Fund 7 143,524 12,852 12,939 -87 30,377 7 143,524 2,881 4,034 -1,153 30,377Sub total - I (1+2+3+4+5+6+ 7+8+9+10+11+12+13+14+ 15+16)
314 5,679,987 11,699,717 11,685,087 14,630 1,015,648 314 5,679,987 1,649,720 1,807,753 -158,033 1,015,648
II Growth/Equity Oriented Schemes 318 60,034,273 108,677 67,123 41,554 724,213 318 60,034,273 16,053 9,444 6,609 724,21317 Multi Cap Fund 35 8,740,979 21,534 13,594 7,940 143,892 35 8,740,979 3,478 1,803 1,675 143,89218 Large Cap Fund 30 9,214,249 22,474 14,805 7,668 144,273 30 9,214,249 3,476 1,917 1,560 144,27319 Large & Mid Cap Fund 24 4,504,923 7,731 5,381 2,350 53,154 24 4,504,923 1,068 725 343 53,15420 Mid Cap Fund 25 6,296,812 13,459 7,112 6,346 78,673 25 6,296,812 2,231 954 1,277 78,67321 Small Cap Fund 21 5,087,496 10,548 4,211 6,337 46,154 21 5,087,496 1,480 585 896 46,15422 Dividend Yield Fund 6 492,068 198 344 -145 4,519 6 492,068 31 44 -13 4,51923 Value Fund/Contra Fund 18 4,382,101 6,498 6,094 404 55,650 18 4,382,101 940 894 46 55,65024 Focused Fund 21 3,110,952 9,796 4,650 5,146 42,287 21 3,110,952 1,187 786 401 42,28725 Sectoral/Thematic Funds 95 6,428,349 8,739 6,844 1,894 62,104 95 6,428,349 988 1,136 -148 62,10426 ELSS 43 11,776,344 7,700 4,087 3,613 93,507 43 11,776,344 1,174 600 574 93,507
Sub total - II (17+18+19+20+21+ 22+23+24+25+26) 318 60,034,273 108,677 67,123 41,554 724,213 318 60,034,273 16,053 9,444 6,609 724,213
III Hybrid Schemes 129 9,633,812 79,536 64,655 14,881 349,602 129 9,633,812 12,551 10,523 2,028 349,60227 Conservative Hybrid Fund 21 417,869 672 2,340 -1,667 13,805 21 417,869 122 421 -299 13,805
28 Balanced Hybrid Fund/Aggressive Hybrid Fund 33 5,427,806 14,421 23,068 -8,648 139,036 33 5,427,806 1,601 3,531 -1,930 139,036
29 Dynamic Asset Allocation/Balanced Advantage 21 2,533,801 13,980 10,717 3,263 93,662 21 2,533,801 1,881 1,770 111 93,662
30 Multi Asset Allocation 7 610,110 1,767 1,811 -45 12,507 7 610,110 253 216 36 12,50731 Arbitrage Fund 24 283,008 47,106 21,587 25,519 74,688 24 283,008 8,583 3,826 4,758 74,68832 Equity Savings Fund 23 361,218 1,591 5,133 -3,542 15,905 23 361,218 111 759 -648 15,905
Sub total - III (27+28+29+30 +31+32) 129 9,633,812 79,536 64,655 14,881 349,602 129 9,633,812 12,551 10,523 2,028 349,602
IV Solution Oriented Schemes 30 5,388,788 1,529 621 908 17,016 30 5,388,788 245 105 140 17,01633 Retirement Fund 21 2,501,700 1,073 392 681 8,781 21 2,501,700 177 75 102 8,78134 Childrens' Fund 9 2,887,088 455 229 227 8,235 9 2,887,088 68 29 39 8,235
Sub total - IV (33+34) 30 5,388,788 1,529 621 908 17,016 30 5,388,788 245 105 140 17,016
V Other Schemes 141 2,044,226 48,905 31,943 16,962 161,627 141 2,044,226 5,062 3,541 1,521 161,62735 Index Funds 29 368,610 2,401 1,054 1,348 6,572 29 368,610 517 169 348 6,57236 GOLD ETFs 12 359,475 334 214 120 5,613 12 359,475 98 54 44 5,61337 Other ETFs 71 1,176,700 45,711 30,487 15,224 147,187 71 1,176,700 4,313 3,280 1,033 147,18738 Fund of funds investing overseas 29 139,441 458 188 271 2,254 29 139,441 135 38 96 2,254
Sub total - V (35+36+37+38) 141 2,044,226 48,905 31,943 16,962 161,627 141 2,044,226 5,062 3,541 1,521 161,627Total A-Open ended Schemes 932 82,781,086 11,938,364 11,849,429 88,935 2,268,105 932 82,781,086 1,683,631 1,831,366 -147,735 2,268,105
B Close Ended SchemesI Income/Debt Oriented Schemes 824 1,087,354 2,996 34,602 -31,607 148,138 824 1,087,354 205 4,117 -3,912 148,138i Fixed Term Plan 740 867,938 2,635 30,550 -27,915 136,828 740 867,938 92 3,112 -3,020 136,828
ii Capital Protection Oriented Schemes 36 129,952 361 1,534 -1,173 5,161 36 129,952 112 684 -572 5,161
iii Infrastructure Debt Fund 9 89 0 315 -315 2,400 9 89 0 0 0 2,400iv Other Debt 39 89,375 0 2,204 -2,204 3,749 39 89,375 0 320 -320 3,749
Sub total (i+ii+iii+iv) 824 1,087,354 2,996 34,602 -31,607 148,138 824 1,087,354 205 4,117 -3,912 148,138II Growth/Equity Oriented Schemes 121 1,745,878 0 1,100 -1,100 32,776 121 1,745,878 0 120 -120 32,776i ELSS 25 481,926 0 194 -194 4,204 25 481,926 0 55 -55 4,204ii Others 96 1,263,952 0 905 -905 28,572 96 1,263,952 0 65 -65 28,572
Sub total (i+ii) 121 1,745,878 0 1,100 -1,100 32,776 121 1,745,878 0 120 -120 32,776
OCTOBER 2019 SEBI BULLETIN 2019
864
Sr. No. Scheme Category
2019-20$ Sep-19
No. of schemes
No. of Folios
Funds mobilized
Repur-chase/
Redemp-tio
Net Inflow(+ve)/ Outflow
(-ve)
Net As-sets Un-der Man-agement
as on
No. of schemes
No. of Folios
Funds mobilized
Repur-chase/ Re-
demptio
Net Inflow(+ve)/ Outflow
(-ve)
Net As-sets Un-der Man-agement
as onIII Other Schemes 0 0 0 0 0 0 0 0 0 0 0 0
Total B -Close ended Schemes 945 2,833,232 2,996 35,702 -32,706 180,913 945 2,833,232 205 4,237 -4,032 180,913C Interval SchemesI Income/Debt Oriented Schemes 0 0 0 0 0 0 0 0 0 0 0 0II Growth/Equity Oriented Schemes 0 0 0 0 0 0 0 0 0 0 0 0III Other Schemes 0 0 0 0 0 0 0 0 0 0 0 0
Total C -Interval Schemes 26 11,926 9 766 -758 1,768 26 11,926 0 24 -24 1,768Grand Total (A+B+C)
Grand Total (A+B+C) 1,903 85,626,244 11,941,369 11,885,898 55,471 2,450,787 1,903 85,626,244 1,683,836 1,835,626 -151,790 2,450,787
Fund of Funds Scheme (Domestic) 42 496,013 4,011 654 3,358 8,046 42 496,013 757 137 619 8,046
Source: SEBI.
Table 58: Trends in Transactions on Stock Exchanges by Mutual Funds (`crore)
Year/ Month
Equity Debt Total
Gross Purchases
Gross Sales
Net Purchases
/Sales
Gross Purchases
Gross Sales
Net Purchases
/Sales
Gross Purchases Gross Sales
Net purchases /
Sale2018-19 7,08,991 6,21,112 87,879 22,67,416 18,77,490 3,89,925 29,76,407 24,98,603 4,77,8042019-20$ 3,58,938 3,08,622 50,316 12,17,265 9,57,065 2,60,200 15,76,202 12,65,687 3,10,516Apr-19 46,932 51,532 -4,600 2,26,461 1,75,641 50,820 2,73,393 2,27,172 46,220May-19 61,422 56,259 5,164 2,42,203 2,10,863 31,340 3,03,626 2,67,122 36,504Jun-19 47,005 40,773 6,232 1,93,686 1,50,116 43,571 2,40,691 1,90,888 49,803Jul-19 69,200 54,116 15,084 2,05,007 1,52,209 52,799 2,74,208 2,06,325 67,883Aug-19 71,507 54,100 17,407 1,72,054 1,21,738 50,316 2,43,561 1,75,839 67,723Sep-19 62,872 51,842 11,029 1,77,853 1,46,498 31,354 2,40,724 1,98,340 42,384
$ indicates up to September 30,2019 Source: SEBI.
Table 59: Assets Under Management by Portfolio Managers
Year / Month 2018-19 2019-20$Particulars Discre-
tionaryNon-Dis-cretionary
Advisory Total Discre-tionary#
Non-Dis-cretionary
Advisory** Total
No. of Clients 1,38,829 6,853 4,038 1,49,720 1,47,638 7,705 4,075 1,59,418AUM (` crore)Listed Equity 1,11,996 18,477 0 1,30,473 1,15,578 0,19,685 0 1,35,263Unlisted Equity 459 75 0 534 650 274 0 924Plain Debt 11,60,857 74,702 0 12,35,559 12,57,370 0,78,376 0 13,35,745Structured Debt 753 531 0 1,283 1,134 819 0 1,952Equity Derivatives
466 -1 0 465 403 2 0 404
Mutual Funds 14,113 13,856 0 27,969 11,958 14,125 0 26,083Others 14,498 1,392 0 15,890 7,137 2,945 0 10,082Total* 13,03,141 1,09,031 1,93,620 16,05,792 13,94,229 1,16,225 1,95,290 17,05,744
Notes:1. *one of the PMS entity has closed/terminated its PMS activities as on March 31, 2019. The data includes holding/AUM not yet transferred to
other Fund Managers.2. **Value of Assets for which Advisory Services are being given.3. #of the above AUM Rs. 12,54,934.935/- Crores are contributed by funds from EPFO/PFs. 4. The above data is based on the monthly report received from Portfolio Managers. $ indicates up to September 30,2019Source: SEBI.
Table 57: Status of Mutual Funds Industry in India (contd...)
OCTOBER 2019 SEBI BULLETIN 2019
865
Tabl
e 60
: Pro
gres
s R
epor
t of
NSD
L &
CD
SL a
s on
end
of
Sept
-19
(Lis
ted
Com
pani
es)
Para
met
erU
nit
NSD
LC
DSL
Sep-
19A
ug-1
9Se
p-18
%
Cha
nge
durin
g th
e ye
ar
%
Cha
nge
durin
g th
e m
onth
Sep-
19A
ug-1
9Se
p-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
shar
es a
vaila
ble
for d
emat
eria
lizat
ion
Num
ber
5,68
25,
686
6,05
0-6
.08
-0.0
75,
622
5,61
16,
840
-17.
810.
20
Num
ber o
f D
epos
itory
Par
ticip
ants
(reg
ister
ed)
Num
ber
277
277
276
0.36
0.0
601
602
595
1.01
-0.1
7
Num
ber o
f St
ock
Exc
hang
es (c
onne
cted
)N
umbe
r3
33
0.0
0.0
33
30.
00.
0
Num
ber o
f In
vest
ors A
ccou
nts
Lakh
205
189
177
15.6
78.
2318
818
516
117
.10
1.50
Qua
ntity
of
Shar
es d
emat
eria
lized
Cro
re53
,662
53,3
8351
,378
4.45
0.52
21,0
1620
,944
16,7
7725
.27
0.35
Valu
e of
Sha
res d
emat
eria
lized
Cro
re1,
28,1
4,30
41,
21,4
7,06
31,
38,0
0,99
7-7
.15
5.49
16,6
7,31
516
,14,
708
16,7
4,87
7-0
.45
3.26
Qua
ntity
of
Secu
ritie
s dem
ater
ializ
ed #
Cro
re57
,751
57,5
6354
,945
5.11
0.33
22,7
8522
,766
18,1
8125
.32
0.08
Valu
e of
Sec
uriti
es d
emat
eria
lized
#C
rore
1,56
,79,
004
1,49
,93,
669
1,63
,85,
605
-4.3
14.
5718
,02,
747
17,4
6,86
017
,82,
821
1.12
3.20
Qua
ntity
of
shar
es se
ttled
dur
ing
the
mon
thC
rore
1,42
090
888
161
.21
56.4
055
248
750
010
.57
13.4
3
Aver
age
Qua
ntity
of
shar
es se
ttled
dai
ly
(qua
ntity
of
shar
es se
ttled
dur
ing
the
mon
th )
Cro
re75
4549
52.7
264
.63
1816
1614
.27
17.2
5
Valu
e of
shar
es se
ttled
dur
ing
the
mon
th in
de
mat
eria
lized
form
Cro
re3,
68,6
142,
41,1
702,
81,7
9630
.81
52.8
464
,350
49,8
0453
,542
20.1
929
.21
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 b
y 30
))C
rore
19,4
0112
,059
15,6
5523
.92
60.8
92,
145
1,60
71,
727
24.1
933
.51
Trai
ning
Pro
gram
mes
con
duct
ed fo
r re
pres
enta
tives
of
Cor
pora
tes,
DPs
and
Bro
kers
Num
ber
913
412
5.00
-30.
770
1,20
968
-100
.00
-100
.00
The
ratio
of
dem
ater
ializ
ed e
quity
shar
es to
the
tota
l out
stan
ding
shar
es m
arke
t val
uePe
r cen
t87
8787
0.50
0.26
1112
12-2
.07
-1.3
0
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. A
ctua
l No.
of
days
hav
e ta
ken
for c
alcu
latin
g D
aily
Ave
rage
. 4.
Qua
ntity
and
val
ue o
f sh
ares
men
tione
d ar
e si
ngle
sid
ed.
5. #
Sour
ce fo
r lis
ted
secu
ritie
s in
form
atio
n: I
ssue
r/ N
SE/B
SE.
Sour
ce: N
SDL
and
CD
SL.
OCTOBER 2019 SEBI BULLETIN 2019
866
Tabl
e 61
: Pro
gres
s of
Dem
ater
ialis
atio
n at
NSD
L an
d C
DSL
(Lis
ted
and
Unl
iste
d C
ompa
nies
)
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 (`
cr
ore)
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$
28,3
5927
731
,357
20,5
7,61
21,
84,5
9,74
813
,848
601
19,4
924,
15,7
8320
,08,
855
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
830
,946
19,5
8,06
21,
90,3
5,13
413
,218
599
19,4
283,
96,1
2721
,71,
374
Jun-
1927
,004
278
31,2
3519
,85,
585
1,87
,40,
374
13,3
9160
319
,193
4,03
,352
21,3
7,04
8Ju
l-19
27,5
5427
831
,182
20,2
4,98
01,
79,1
8,57
013
,548
600
19,2
744,
09,7
8219
,74,
412
Aug
-19
27,9
4827
731
,205
20,4
6,76
81,
77,4
3,91
713
,692
602
19,3
094,
13,2
5019
,50,
262
Sep-
1928
,359
277
31,3
5720
,57,
612
1,84
,59,
748
13,8
4860
119
,492
4,15
,783
20,0
8,85
5N
otes
: 1.
Fo
r CD
SL, t
he c
urre
nt a
nd h
isto
rical
dat
a of
Com
pani
es L
ive
has
been
revi
sed
to e
xclu
de M
F sc
hem
es c
ount
. 2.TheCom
paniesLivefigureincludesonlythenumberofmutualfundcompaniesandnotthemutualfundschemes.
3.DPsLocationsrepresentsthetotallive(mainDPsandbranchDPsaswellasnon-live(backofficeconnectedcollectioncentres).
* In
clud
es N
ine
Part
icip
ants
whi
ch a
re u
nder
clo
sure
/ter
min
atio
n pr
oces
s an
d SE
BI
regi
stra
tion
is n
ot y
et c
ance
lled/
susp
ende
d
Sour
ce: N
SDL
and
CD
SL.
Tabl
e 62
: Dep
osito
ry S
tatis
tics
as o
n S
ept-
19
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)
795
1,90
55,
682
19,1
7611
24,
978
6,58
926
,059
No.
of A
ctiv
e In
stru
men
ts(n
umbe
rs)
9,77
97,
134
11,4
5620
,611
8,34
733
,790
29,5
8261
,535
Dem
at Q
uant
ity(la
khs)
1,16
,157
5,51
,349
53,6
6,22
794
,34,
070
2,92
,765
48,1
5,54
957
,75,
149
1,48
,00,
968
Dem
at V
alue
(Rs.
Cro
re)
26,3
7,84
64,
98,7
751,
28,1
4,30
49,
38,3
942,
26,8
5313
,43,
575
1,56
,79,
004
27,8
0,74
4Q
uant
ity se
ttled
dur
ing
the
mon
th(L
akh)
13,8
7146
,783
1,41
,972
01,
781
1,14
01,
57,6
2447
,924
Valu
e Se
ttled
dur
ing
the
mon
th(R
s.C
rore
s)1,
22,2
1917
,025
3,68
,614
02,
564
307
4,93
,398
17,3
32C
DSL
No.
of
Issu
ers (
Deb
t) /
Com
pani
es (E
quity
)(n
umbe
rs)
551
431
5,62
27,
121
2,42
460
78,
597
8,15
9N
o. o
f A
ctiv
e In
stru
men
ts(n
umbe
rs)
7,59
92,
651
5,75
07,
393
19,6
412,
086
32,9
9012
,130
Dem
at Q
uant
ity(la
kh)
4,09
210
8,16
721
,01,
630
15,9
6,74
11,
72,7
841,
74,4
1122
,78,
506
18,7
9,32
0D
emat
Val
ue(R
s.cr
ore)
62,8
6538
,614
16,6
7,31
51,
36,4
0072
,568
31,0
9418
,02,
747
2,06
,107
Qua
ntity
settl
ed d
urin
g th
e m
onth
(lakh
)22
055
,248
011
,552
066
,822
0Va
lue
Settl
ed d
urin
g th
e m
onth
(Rs.
cror
e)51
60
64,3
500
8,38
00
73,2
450
Not
e:
The
cat
egor
ies
incl
uded
in O
ther
s ar
e Pr
efer
ence
Sha
res,
Mut
ual F
und
Uni
ts, W
arra
nts,
PT
Cs,
Tre
asur
y B
ills,
CPs
, CD
s an
d G
over
nmen
t Sec
uriti
es.
So
urce
: NSD
L an
d C
DSL
.
OCTOBER 2019 SEBI BULLETIN 2019
867
Tabl
e 64
: Num
ber o
f co
mm
oditi
es p
erm
itted
and
trad
ed a
t exc
hang
es
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
202
11
05
00
0Contractsfloated
200
00
05
00
0Tr
aded
170
00
01
00
0
MC
XPe
rmitt
ed fo
r tra
ding
86
32
00
22
1Contractsfloated
76
22
00
22
1Tr
aded
45
22
00
22
1
ICE
XPe
rmitt
ed fo
r tra
ding
121
00
10
00
0Contractsfloated
121
00
10
00
0Tr
aded
41
00
10
00
0
BSE
Perm
itted
for t
radi
ng4
12
10
00
00
Contractsfloated
41
21
00
00
0Tr
aded
41
20
00
00
0
NSE
Perm
itted
for t
radi
ng0
12
10
00
00
Contractsfloated
00
21
00
00
0Tr
aded
00
21
00
00
0So
urce
: NC
DE
X, M
CX
, IC
EX
, BSE
and
NSE
Tabl
e 65
: Tre
nds
in c
omm
odity
indi
ces
Ye
ar/
Mon
thM
CX
Ico
mde
x C
ompo
site
Ind
exN
kris
hiO
pen
Hig
hLo
wC
lose
Ope
nH
igh
Low
Clo
se20
18-1
962
566
255
260
03,
051
3,59
02,
838
3,41
420
19-2
0$60
062
856
459
9*3,
450
3,67
43,
418
3,42
9A
pr-1
960
061
459
960
33,
450
3,60
43,
450
3,50
1M
ay-1
960
360
357
057
13,
507
3,67
43,
498
3,61
5Ju
n-19
570
597
564
592
3,62
33,
623
3,46
93,
497
Jul-1
959
259
658
059
23,
506
3,64
63,
503
3,63
7A
ug-1
959
061
758
361
03,
642
3,64
33,
537
3,55
9Se
p. 1
9$61
062
859
559
9*3,
542
3,54
63,
418
3,42
9$
indi
cate
s as
on
Sept
embe
r 30,
201
9*
Dat
a fo
r MC
X ic
omde
x co
mpo
site
inde
x is
as
on S
epte
mbe
r 27,
201
9 as
MC
X h
as d
isco
ntin
ued
diss
emin
atio
n of
its
co-b
rand
ed T
R ic
omde
x in
dice
s si
nce
Sep
27, 2
019
Sour
ce: M
CX
and
NC
DE
X
OCTOBER 2019 SEBI BULLETIN 2019
868
Tabl
e 66
: Tre
nds
in c
omm
odity
der
ivat
ives
at M
CX
FUTU
RES
Year
/ M
onth
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
dVo
lum
e ('0
00
tonn
es)
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
420
19-2
0$12
84,7
679,0
6,788
47,46
335
,234
2,46,5
9,601
9,12,6
3512
42,1
9,71,3
0913
,22,17
85,2
6,636
10,95
,54,59
916
,92,70
615
,70,92
,297
39,74
,981
2,34,5
5615
,133
Apr-1
920
991
1,96,6
32 1
0,806
7,0
3055
,65,14
21,7
2,973
1525
,16,28
51,2
9,663
62,10
21,2
4,17,7
882,1
3,672
2,06,9
5,847
5,27,1
133,1
8,726
13,84
0M
ay-1
923
1,065
2,12,1
63 1
1,256
6,9
5956
,22,66
81,6
5,667
1627
,15,91
71,5
6,568
89,08
01,7
6,09,6
992,9
3,303
2,61,6
0,447
6,26,7
943,6
6,531
14,97
4Ju
n-19
2077
91,4
7,860
7,66
2 5,6
4539
,65,13
61,3
8,475
1831
,20,48
81,8
0,860
83,86
01,7
2,71,1
862,4
9,906
2,45,0
4,670
5,76,9
032,5
6,595
14,93
8Ju
l-19
2373
51,4
6,496
7,30
8 6,1
5036
,02,23
11,6
2,811
2239
,22,25
22,6
4,476
91,94
81,9
3,54,3
052,8
9,238
2,70,2
5,284
7,23,8
332,5
6,075
17,46
0Au
g-19
2168
71,1
7,120
6,03
1 4,6
2630
,07,10
91,3
1,673
2645
,99,02
32,8
4,933
98,81
92,0
9,71,4
903,1
1,605
2,86,9
4,742
7,34,2
432,3
9,457
18,07
0Se
p-19
2150
986
,517
4,39
9 4,8
2328
,97,31
51,4
1,035
2750
,97,34
43,0
5,679
1,00,8
262,1
9,30,1
313,3
4,981
3,00,1
1,307
7,86,0
952,3
4,556
15,13
3O
PTIO
NS
Year
/
Mon
th
No.
of
Trad
ing
days
Met
als
Bulli
onEn
ergy
Tota
lO
pen
inte
rest
at t
he
end
of th
e pe
riod
Call
Opt
ions
Pu
t Opt
ions
Ca
ll O
ptio
ns
Put O
ptio
ns
Call
Opt
ions
Pu
t Opt
ions
N
o. o
f co
ntra
cts
Turn
over
(`
cro
re)
No.
of
cont
ract
s
Not
iona
l Va
lue
(` c
rore
)N
o. o
f co
ntra
cts
Turn
over
(`
cro
re)
No.
of
cont
ract
sTu
rnov
er
(` c
rore
)N
o. o
f co
ntra
cts
Turn
over
(`
cro
re)
No.
of
cont
ract
sTu
rnov
er
(` c
rore
)N
o. o
f co
ntra
cts
Turn
over
(`
cro
re)
No.
of
cont
ract
sTu
rnov
er
(` c
rore
)20
18-1
925
769
,152
3,701
54,50
92,7
922,6
5,487
75,21
02,0
7,148
60,49
04,8
0,193
20,89
74,1
8,758
17,85
514
,95,51
71,8
0,944
9,471
802
2019
-20$
128
15,46
61,0
5611
,256
831
1,19,2
1432
,495
1,17,2
2434
,524
5,86,6
9824
,737
5,55,4
5022
,351
14,05
,308
1,15,9
9515
,904
1,506
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
234,3
1427
02,2
0914
519
,107
5,289
13,70
93,9
6687
,458
3,877
77,54
43,3
132,0
4,341
16,86
213
,122
978
Jun-
1920
3,803
184
1,929
103
17,36
94,1
1015
,668
4,212
90,17
93,5
7365
,139
2,435
1,94,0
8714
,617
10,49
61,6
61Ju
l-19
231,0
9411
466
367
23,49
57,0
9525
,390
7,529
75,48
43,1
2178
,711
3,117
2,04,8
3721
,043
10,63
21,2
61Au
g-19
2176
778
442
4422
,745
5,856
28,57
27,9
801,1
9,913
4,876
1,15,8
484,4
972,8
8,287
23,33
014
,103
2,800
Sep-
1921
855
8553
353
24,95
37,8
6227
,338
9,327
1,71,5
107,3
721,6
7,072
6,760
3,92,2
6131
,458
15,90
41,5
06
$ in
dica
tes
as o
n Se
ptem
ber 3
0, 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 67
: 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 C
ontr
acts
Valu
e (`
cro
re)
No.
of
Con
trac
tsVa
lue
(` c
rore
)N
o. o
f C
ontr
acts
Valu
e (`
cro
re)
2018
-19
248
1
20,1
25
14,
005,
485
531
,414
1,
28,3
395,
328
3,64
616
032
814
60.
320
19-2
0$ 1
23
53,
248
6,7
51,0
66
253
,611
1
07,1
61
4,57
514
97
60
30.
1A
pr-1
9 1
9 9
,826
1
,294
,409
4
7,77
6 1,
35,4
635,
988
171
00
60.
3M
ay-1
9 2
2 1
0,04
8 1
,258
,982
4
8,40
3 1,
38,8
846,
387
342
00
00.
0Ju
n-19
19
8,6
20
1,0
92,7
28
40,
097
1,25
,305
5,59
316
10
00
0.0
Jul-1
9 2
3 9
,236
1
,147
,866
4
3,90
8 1,
18,4
355,
371
563
00
301.
4A
ug-1
9 2
0 8
,045
1
,000
,929
3
8,31
1 1,
47,6
355,
416
121
00
00.
0Se
p-19
20
7,4
74
956
,152
3
5,11
6 1,
07,1
614,
575
141
60.
23
0.1
$ in
dica
tes
as o
n Se
ptem
ber 3
0, 2
019
Sour
ce: N
CD
EX
OCTOBER 2019 SEBI BULLETIN 2019
869
Tabl
e 68
: Tre
nds
in c
omm
odity
der
ivat
ives
at I
CE
X
Year
/ M
onth
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
('0
00
tonn
es)
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
cen
ts)
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$
128
427
1,77
,093
3,20
91,
104
1,10
,393
3,39
23,
46,8
7,84
73,
46,8
7,84
712
,028
3,49
,75,
333
18,6
2815
,565
36
Apr
-19
2040
18,8
2224
015
815
,754
536
1,06
,61,
364
1,06
,61,
364
3,67
7 1
0,69
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
2 1
0,86
2,82
5 4
,803
85
,247
65
Jun-
1920
7129
,511
528
178
17,7
9256
844
,55,
234
44,5
5,23
41,
530
4,5
02,5
37
2,6
27
46,4
5356
Jul-1
923
6936
,689
728
222
22,1
7665
128
,14,
222
28,1
4,22
296
9 2
,873
,087
2
,349
14
,199
45
Aug
-19
2194
35,4
5172
921
020
,983
575
37,3
6,44
137
,36,
441
1,33
1 3
,792
,875
2
,635
24
,406
45
Sep-
1921
7227
,642
558
146
14,5
7641
522
,05,
851
22,0
5,85
178
8 2
,248
,069
1
,761
15
,565
36$
indi
cate
s as
on
Sept
embe
r 30,
201
9
N
otes
: C
ontr
act s
ize
for a
ll di
amon
d fu
ture
s co
ntra
ct a
t IC
EX
is o
ne c
ent.
So
urce
: IC
EX
Tabl
e 69
: Tre
nds
in c
omm
odity
der
ivat
ives
at B
SE
Year
/ M
onth
No.
of
Trad
ing
days
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
( t
onne
s)N
o. o
f co
ntra
cts
trade
d
Turn
over
(`
cro
re)
Volu
me
( t
onne
s)N
o. o
f co
ntra
cts
trade
d
Turn
over
(`
cro
re)
Volu
me
( t
onne
s)N
o. o
f co
ntra
cts
trade
d
Turn
over
(`
cro
re)
Volu
me
( t
onne
s)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$
127
874
874
3948
539
,074
7,852
00
037
,94,79
54,4
9,067
20,81
94,8
9,015
28,71
036
827
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
5,57,3
2471
,863
3,483
83,06
85,6
411,0
0293
Jun-
1920
268
268
1232
8,371
1,745
00
04,9
9,646
57,56
72,6
3166
,206
4,388
861
85
Jul-1
923
66
0.312
44,7
6271
30
00
7,67,0
2886
,098
4,062
90,86
64,7
7662
135
Aug-
1920
00
0.061
2,734
521
00
08,4
5,903
96,81
04,4
9199
,544
5,013
431
34
Sep-
1921
00
0.0
392,
164
524
00
07,
08,2
7780
,867
3,37
983
,031
3,90
236
827
$ in
dica
tes
as o
n Se
ptem
ber 3
0, 2
019
C
onve
rsio
n fa
ctor
s: O
MA
N C
rude
Oil
(1 T
onne
= 7
.33B
arre
ls)
Sour
ce: B
SE
OCTOBER 2019 SEBI BULLETIN 2019
870
Tabl
e 70
: Tre
nds
in c
omm
odity
der
ivat
ives
at N
SE
Year
/ M
onth
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
('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
120
149
36,31
53,3
7510
,584
10,58
469
46,89
93,4
4415
97
2019
-20$
128
1752
,934
3,919
754
,121
373
1,07,0
554,2
9386
24
Apr
-19
206
12,4
6843
11
8,44
359
20,9
1149
091
4
May
-19
232
11,22
738
71
8,973
5520
,200
442
451
Jun-
1920
211
,423
394
06,
097
4017
,520
434
975
Jul-1
923
19,
026
442
19,
686
6118
,712
503
131
7
Aug
-19
214
5,49
61,
396
211
,937
9317
,433
1,48
953
925
Sep-
1921
23,
294
870
18,
985
6512
,279
935
8624
$ in
dica
tes
as o
n A
ugus
t 30,
201
9
VolumeforBRCrudeandBRCrudeMiniisprovidedinbarrels(absolutefigure).
So
urce
: NSE
Tabl
e 71
: 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$
3862
3565
4851
0.9
4951
6040
243
5023
4456
Apr
-19
4060
3070
4752
0.7
5644
6536
482
3713
5050
May
-19
3961
3268
4851
1.1
5347
6931
362
4319
5347
Jun-
1937
6335
6548
510.
950
5064
3636
444
1657
43Ju
l-19
3565
3565
4950
0.8
4555
5941
95
5629
4852
Aug
-19
3664
3862
4950
0.8
4654
5248
73
5733
3565
Sep-
1937
6340
6045
540.
845
5552
4811
262
2541
59$
indi
cate
s as
on
Sept
embe
r 30,
201
9
So
urce
: MC
X, N
CD
EX
, IC
EX
, BSE
and
NSE
OCTOBER 2019 SEBI BULLETIN 2019
871
Tabl
e 72
: Com
mod
ity-w
ise
turn
over
and
trad
ing
volu
me
at M
CX
Sr.N
oN
ame
of th
e C
omm
odity
2019
-20$
Sep-
18A
ug-1
9Se
p-19
Volu
me
('000
tonn
es)
Valu
e(`
cro
re)
Volu
me
('000
tonn
es)
Valu
e(`
cro
re)
Volu
me
('000
tonn
es)
Valu
e(`
cro
re)
Volu
me
('000
tonn
es)
Valu
e(`
cro
re)
Futu
res
AB
ullio
n 1
G
old
2.3
8
16,6
97
0.3
7
6,70
4 0
.5
173
,324
0
.5
176
,916
2
S
ilver
1
22
505
,481
1
5 5
7,52
0 2
5 1
11,6
09
27
128
,763
T
otal
for A
1
24
1,3
22,1
78
16
134
,224
2
6 2
84,9
33
27
305
,679
B
M
etal
s ot
her t
han
Bul
lion
1
Alu
min
ium
3
,548
4
9,87
1 1
,654
2
4,41
7 4
36
6,1
06
413
5
,748
2
C
oppe
r 6
,064
2
64,7
99
1,3
65
59,
522
797
3
5,36
5 1
,027
4
6,05
2 3
L
ead
8,5
33
123
,849
2
,650
3
8,99
2 1
,109
1
7,09
7 9
74
15,
096
4
Nic
kel
1,6
28
163
,437
2
87
26,
035
332
3
6,92
3 2
79
34,
777
5
Zin
c 1
5,46
1 3
10,6
78
4,3
20
76,
460
1,9
53
36,
184
2,1
31
39,
363
Tot
al fo
r B
3
5,23
4 9
12,6
35
10,
276
225
,427
4
,626
1
31,6
73
4,8
23
141
,035
C
A
gric
ultu
ral c
omm
oditi
es
1
Car
dam
om
0.7
1
89
0.1
1
8 0
.2
51
0.1
3
4 2
C
otto
n 2
,077
2
6,36
2 1
73
2,3
02
157
1
,868
9
7 1
,121
3
C
PO
2,6
35
13,
975
457
2
,733
5
21
2,8
61
402
2
,238
M
enth
a O
il 5
3 6
,930
1
4 2
,370
1
0 1
,252
8
9
99
4
Kap
as
1
7
Na
Na
Na
Na
1
7
Tot
al fo
r C
4,7
67
47,
463
645
7
,423
6
87
6,0
31
509
4
,399
D
E
nerg
y 1
C
rude
Oil
526
,636
1
,565
,840
4
3,70
8 1
62,2
08
98,
819
284
,084
1
00,8
26
301
,964
2
N
atur
al G
as (t
rln. B
tu)
7,5
36
126
,865
8
72
18,
277
1,7
73
27,
521
1,8
32
33,
017
Tot
al fo
r D*
526
,636
1
,692
,706
4
3,70
8 1
80,4
85
98,
819
311
,605
1
00,8
26
334
,981
G
rand
Tot
al (A
+B
+C
+D
) 5
66,7
61
3,9
74,9
81
54,
644
547
,560
1
04,1
58
734
,243
1
06,1
86
786
,095
O
ptio
nsE
Bul
lion
1.0
G
old
0.2
5
7,78
6 0
.1
42,
600
0.0
3 1
0,91
3 0
.04
15,
412
2.0
S
ilver
2
.2
9,2
34
0.1
4
73
0.7
2
,923
0
.4
1,7
77
Tot
al o
f E
2
.4
67,
020
0.3
4
3,07
3 0
.7
13,
836
0.4
1
7,18
8 F
M
etal
s
1.0
C
oppe
r 1
9 8
28.3
6
268
1
41
1
43
2.0
Z
inc
50
1,0
58.4
7
119.
9 4
8
1 5
9
5 T
otal
of
F 6
9 1
,887
13
388
5
121
6
1
38
G
Ene
rgy
1.0
C
rude
Oil
15,
582
47,
088
852
3
,163
3
,216
9
,373
4
,619
1
4,13
2 G
rand
Tot
al (E
+F+
G)
15,
653
115
,995
8
65
46,
624
3,2
22
23,
330
4,6
26
31,
458
$ in
dica
tes
as o
n Se
ptem
ber 3
0, 2
019
N
ote
: Nat
ural
Gas
vol
ume
is in
trill
ion
BT
U a
nd is
not
incl
uded
in to
tal v
olum
e.
T
urno
ver o
f op
tions
con
trac
t is
notio
nal v
alue
. .
Con
vers
ion
fact
ors:
Cot
ton
(1 B
ale=
170
kg),
Cru
de O
il (1
Ton
ne =
7.3
3Bar
rels
)
Sour
ce :
MC
X
OCTOBER 2019 SEBI BULLETIN 2019
872
Table 73: Commodity-wise turnover and trading volume at NCDEX
Sr. No
Name of Agri. Commodity
2019-20$ Sep-18 Aug-19 Sep-19
Volume ('000
tonnes)
Value(` crore)
Volume ('000
tonnes)
Value(`crore)
Volume ('000
tonnes)
Value (`crore)
Volume ('000
tonnes)
Value(` crore)
Futures
1 Barley 92 167 19 33 5 10 3 5
2 Castorseed 9,091 51,637 1,058 5,002 1,172 6,674 1,327 7,513
3 Chana 7,495 32,628 813 3,231 1,089 4,561 1,109 4,574
4 Cotton seed oil cake 8,414 22,969 714 1,215 1,272 3,843 709 1,723
5 Coriander 1,459 9,965 244 1,231 185 1,118 175 1,037
6 Guar seed 9,744 42,066 2,229 9,624 1,777 7,693 1,334 5,473
7 Guargum 2,507 21,558 463 4,330 424 3,596 385 3,063
8 Jeera 409 7,031 73 1,419 54 929 51 868
9 Kapas 527 3,004 114 659 83 450 87 467
10 Maize 65 129 16 16 7 15 4 8
11 Moong 14 87 Na Na 4 23 2 9
12 Paddy Basmati Rice 1 4 Na Na 0.2 1 0.2 0.5
13 RM seed 3,938 15,383 703 2,930 607 2,393 535 2,123
14 Sugar Na Na 0.02 0.06 Na Na Na Na
15 Soy bean 5,874 21,769 1,116 3,678 796 2,888 1,269 4,787
16 RefinedSoyOil 2,537 18,786 551 4,089 441 3,310 350 2,656
17 Turmeric 906 6,079 115 768 114 779 123 789
18 Wheat 176 350 12 24 14 29 9 19
Total 53,248 253,611 8,242 38,248 8,045 38,311 7,474 35,116
Options
1 Chana 0.2 0.7 Na Na 0.0 0.0 0.1 0.2
2 Guargum 0.0 0.0 Na Na 0.0 0.0 0.0 0.0
3 Guarseed 1.4 6.3 3.0 13.2 0.1 0.5 0.1 0.6
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 1.6 7.0 3.0 13.2 0.1 0.5 0.2 0.8$ indicates as on September 30, 2019 Turnover of options contract is notional value. Source: NCDEX
OCTOBER 2019 SEBI BULLETIN 2019
873
Table 74: Commodity-wise turnover and trading volume at ICEX, BSE and NSE Sr.No
Name of the Commodity
2019-20$ Sep-18 Aug-19 Sep-19Volume
('000 tonnes)
Value (` crore)
Volume ('000
tonnes)
Value (` crore)
Volume ('000
tonnes)
Value (` crore)
Volume ('000
tonnes)
Value (` crore)
A. ICEX 1 Castorseed Na Na 60 281 Na Na Na Na 2 Guarseed Na Na 42 18 Na Na Na Na 3 Isabgulseed 32 308 93 79 6 56 5 50 4 Pepper Mini 25.4 889 Na Na 6 208 6 189 5 Rape/Mustardseed Na Na 80 284 Na Na Na Na 6 Raw Jute Na Na 81 341 Na Na Na Na 7 Rubber 105 1,480 8 10 17 237 12 153 8 Diamond 1 CT 341,202 11,937 769,209 278 37,363 1,331 22,054 788 9 Diamond .5 CT 5,675 91 240,503 40 1 0.02 5 0.07
10 Diamond .3 CT 1 0.01 2,533 0.29 Na Na 0.02 0 11 Steel 1,104 3,392 159.6 613.23308 210 575 146 415 12 Paddy Basmati 15 533 Na Na 6.51 228 5 166
Total (ICEX) 348,159 18,628 1,012,768 1,945 37,610 2,635 22,232 1,761 B. BSE 1 Gold 0.02 5,812 Na Na 0 248 0 337 2 Silver 0.47 1,856 Na Na 0 273 0 186 3 Silver KG 0.00 0.04 Na Na 0 0.00 0 0 4 Silver M 0.00 0.04 Na Na 0.0 0.00 0 0 5 Copper 0.87 39 Na Na 0.0 0 0 0 6 Gold M 0.00 184 Na Na 0 0.0 0 0 7 Guar Gum 0.38 3 Na Na 0 0 0 0 8 Guar Seed 3073.82 13215 Na Na 679 2918 588 2414 9 Cotton 432 5,501 Na Na 82 988 0 0
10 Turmeric 209 1,355 Na Na 79.4 521 46 284 11 Cotton BSE 80 745 Na Na 6 64 74 680
Total (BSE) 3796.16 28,710 Na Na 846 5,013 708 3,902 C. NSE 1 Gold 2 Gold Mini 5 1,539 Na Na 0.2 76 0 44 3 Silver 6 22 Na Na 0 1 - - 4 BR Crude 0 141 Na Na 0 47 0.1 28 5 BR Crude Mini 7.0 233 Na Na 1.5 46 1.1 37
Total (NSE) 24 4,293 Na Na 5 1,489 3 935 $ indicates as on September 30, 2019 Notei) 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
OCTOBER 2019 SEBI BULLETIN 2019
874
Table 75: Macro Economic Indicators
I. GDP at Current prices (2011-12 prices) for 2018-19 (` crore)# 1,90,10,164II. Gross Saving as a Per cent 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 May-19 Jun-19 Jul-19 Aug-19 Sep-19
Cash Reserve Ratio (Per cent) 4.0 4.0 4.0 4.0 4.0Repo Rate (Per cent) 6.00 5.75 5.75 5.40 5.40Money Supply (M3) (` Billion) 1,54,309 1,54,143 1,55,664 1,55,994 1,56,485
Aggregate Deposit (` Billion) 1,24,986 1,24,906 1,26,491 1,26,802 1,27,228
Bank Credit (` Billion) 96,226 96,486 96,569 96,830 97,012V. Interest Rate
Call Money Rate (Weighted Average) 5.90 5.78 5.59 5.36 5.3191-Day-Treasury Bill (Primary Yield) 6.19 6.03 5.74 5.41 5.41Base rate (Per cent) 8.95/9.40 8.95/9.40 8.95/9.40 8.95/9.40 8.95/9.40Term Deposit Rate > 1 year (Maximum) 6.25/7.50 6.25/7.30 6.25/7.30 6.35/7.10 6.25/7.00
VI. Capital Market Indicators (` crore)Equity Cash Turnover (BSE+NSE) 8,46,355 6,42,988 7,61,070 7,24,438 7,63,189Market Cap-BSE 1,54,38,015 1,51,97,087 1,41,47,125 1,40,98,452 1,47,17,456Market Cap-NSE 1,52,54,361 1,50,31,415 1,40,05,417 1,39,76,168 1,45,73,003Net FPI Investment in Equity 7,920 2,596 -12,419 -17,592 7,548
VII. Exchange Rate and ReservesForex Reserves (USD million) 4,21,868 4,27,679 4,29,649 4,28,604 4,33,594Re/ Dollar 69.81 68.92 68.86 71.76 70.69Re/Euro 77.7 78.4 76.8 79.2 77.3Forward Premia of USD 6-month 3.93 4.70 4.31 4.24 4.23
VIII. PublicBorrowingandInflationGovt. Market Borrowing-Gross (` Billion) 2019-20^
1,360 2,040 2,720 2,400 4,250
Wholesale Price Index (2011-12=100) 121.2 121.5 121.2 121.4 NAConsumer Price Index (2012 =100) 142.0 142.9 144.2 144.9 NA
IX. Index of Industrial Production (y-o-y) Per cent (Base year 2011-12 = 100)General 135.5 129.2 131.1 NA NAMining 110.2 106.5 100.2 NA NAManufacturing 135.9 128.9 132.9 NA NAElectricity 176.9 173.0 169.7 NA NA
X. External Sector Indicators (USD million)Exports 29,994 25,012 26,333 26,127 NAImports 45,354 40,290 39,760 39,582 NATrade Balance -15,360 -15,278 -13,427 -13,455 NA
Notes: # 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 ^cumulativefigurevalueof therespectivemonthfor2019-20 Aggregate Deposit, Bank Credit, Money Supply (M3) and Forex Reserve are updated as per available information on WSS dated 04 October 2019 Data for CPI, WPI, IIP and External sector have been complied based on available information. Source:RBI,FBIL,MOSPI,Ministryof Commerce&Industry,Officeof theEconomicAdviser.
OCTOBER 2019 SEBI BULLETIN 2019
875
PUBLICATIONS
1. Annual Report : 2017-182. Handbook of Statistics : 2017
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