NCDEX urges Centre to allow FIIs to trade in commodity exchanges

Mumbai, Sep 3 (UNI) The National Commodity and Derivaties Exchange (NCDEX) has urged the Union Government to allow Foreign Institutional Investors (FIIs) to trade in two commodity future exchanges.

NCDEX Chairman Mr P H Ravi Kumar yesterday said, ''I hope the Union Finance Minister grants permisssion for FIIs to trade in essential and non-essential commodities future trading at NCDEX and the Multi Commodity Exchange (MCX).'' He said that there was massive buying support in essential commodities future trading since the last few days but there is a need for more awareness of retail sectors. He expressed confidence that retailers would come forward to participate in the two exchanges and hoped that then the index of NCDEX would surpass the sensitive index of the BSE.

UNI AR WD AW0938