Record turnover in NSEL's e-Series products

The e-Series products launched by National Spot Exchange (NSEL), have witnessed a record turnover in the first 20 days of January, says a release.

The turnover of four e-Series products namely e-gold, e-silver, e-copper and e-zinc exceeded the average monthly turnover recorded by the products last year.

Turnover

The turnover rose sharply to Rs.7,910 crore in January from Rs. 198 crore in September 2010.

The e-series had also ended 2010 with attractive return on investment. During the last four months of 2010, NSEL recorded an average increase of 200 per cent per month in its turnover.

NSEL had launched e-Series products in 2010, starting with e-gold in March to meet the growing demand among retail investors, it added e-silver, e-copper and e-zinc.

Return

In 2010, while equities (under NIFTY, the National Stock Exchange index) appreciated by 17.3 per cent, e-gold gave a return of more than 21 per cent over a period of 10 months and e-silver more than 62 per cent in nine months. Launched in November 2010, e-copper provided a return of 22 per cent in three months, the release added.