- 04 Mar 2022
- ICICIdirect Research
IEX trades 8760 MUs in FebruaryIEX - 153 Change: -0.70 (-0.46 %)
News: IEX reported 29% YoY and 1.26% MoM increase in February. Total volumes in February were at 8760 MUs. Day ahead market traded 5612 MUs. It is an increase of 6.29% when compared to the volumes of January and increased by 9.5% YoY. Real time market volumes were at 1556 MUs and declined 1.21% MoM, increased 29% YoY. Term ahead market comprising intra-day, contingency, daily & weekly contracts traded 527 MUs and recorded 35.13% MoM increase. Green market also traded a cumulative of 453 MUs during February. REC market also saw a volume of 6.12 lakh units in the trading session held on February 23. IGX also delivered highest-ever volume of 22,69,500 mmBtu in February.
Views: Buoyancy in volumes should continue led by resumption in REC trading, Bhutan commencing trading in DAM, commencing of trade in hydropower contracts in GTAM, new product launches and shift from other sub segments of short term market to exchanges. We expect strong volume growth in FY22 & F23 led by commencement of long duration contracts, Green Day ahead market and launch of electricity derivatives.