<div>The country’s newest stock exchange — MCX-SX — received tepid response from investors on its first day of trading. Thin volumes in the cash segment and an irritably slow exchange website prompted savvy enthusiastic investors to return to BSE and NSE for actual trade, price monitoring and analysis.<br /><br />MCX-SX has not disclosed the ‘level’ of its flagship index SX – 40 on day one, starting rumours that the exchange is still not fully operational for regular, high-volume trading.<br /><br />Despite repeated attempts, MCX-SX officials could not be reached for comments.<br /><br />According to a press release issued by MCX-SX (post the trading session), the total turnover on Monday, 11 February, 2013 was pegged at Rs 12.53 crore. Data on the website, however, showed that the cash segment registered a volume of only Rs 69 lakh. Reliance Industries, Hindalco and SBI were among the most active stocks on the exchange.<br /><br />"A stock exchange is a market infrastructure institution which requires a long-term approach like a marathon and not like a sprint race. We are working on the liquidity enhancement scheme under SEBI’s framework and after due processes it will be introduced and it will have a catalytic effect,” said Joseph Massey, MD & CEO of the exchange.<br /><br />The cash segment of BSE and NSE reported a turnover of Rs 2,140.3 crore and Rs 9,461.48 crore while the derivative segment reported volumes worth Rs 6,144.63 crore and Rs 76,807.84 crore, respectively, on Monday.<br /><br />The equity and equity derivatives arm of MCX-SX was inaugurated on Saturday, 9 February, by Finance Minister P Chidambaram. As per the exchange, 405 members and 1,116 companies have been admitted for trading under ‘permitted to trade’ category.</div>
