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Singapore Nifty futures outwits parent in style
Our Markets Bureau
Mumbai, Nov 15 : National Stock Exchange's S&P CNX Nifty futures, which made an international debut after they got listed on Singapore Stock Exchange (SSE) on September 25 last, are proving to be more illustrious than their Indian parent in terms of turnover. In the first one month since inception, the dollar-denominated Nifty futures have posted a turnover of Rs 150.33 crore (converted into rupees), pipping its own parent by nearly Rs 6 crore.The Nifty futures in India have posted a turnover of Rs 144.53 crore during the same period. But in terms of volumes, it is a far cry for the Dollar-denominated one - only 1,338 futures contracts were traded on SSE, while 5,879 rupee contracts were traded during the same period in India. The volume and turnover mismatch is due to the dollar-denominated Nifty futures being priced approximately five times higher than the domestic rupee-denominated futures. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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