Today’s turnover statistics at the NSE:
- Cash segment: Rs 8392 cr
- F&O segment: Rs 32155 cr (Single stock futures at 7363 cr!)
This is abysmal. This on a day when the Nifty had a 150-point (5.5%) intraday range. What happens when the volatility dies down? I’ve written before about how this isn’t good for traders or brokers.
Take a look at some of these 2003-2004 articles:
These talk about the plights of small & mid sized brokers, especially with the advent of online trading. And remember that this is 2003; the big drop in the markets happened in 2000 & 2001. Can’t imagine a pleasant 2009/2010 for the (thousands of) brokers / sub-brokers in India.
PS: FIIs net purchases were 28 cr. DIIs net purchases were 49 cr. WTF?