India Exchanges - Volume Growth Moderates In Equities, Remains Strong In Commodities: ICICI Securities

ICICI Securities Report

Cash volumes have declined now for last two months on BSE/NSE. Options premium average daily trading volume growth has been 2%/-4% month-on-month for BSE/NSE in Aug-24.

MCX futures/options premium ADTV expanded 9.6%/35.7% in Aug-24. However, demat additions were yet again more than 4 million for Aug-24.

Considering we track the volume sequentially and there has been continuous growth in volume through FY24, exchange and flow players such as brokers are all set to still report high YoY Q2 FY25E PAT growth.

That said, the bigger consideration is the possible impact on option volumes, basis any impending regulatory action in H2 FY25.

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