- 07 Apr 2022
- ICICIdirect Research
IEX trades 9605 MUs in March
IEX - 204 Change: -2.08 (-1.01 %)News: IEX reported 16% YoY and 9.6% MoM increase in March. Total volumes in March were at 9605 MUs. Day ahead market traded 5858 MUs with average market clearing price of Rs 8.23. On volumes front it is an increase of 4.38% when compared to the volumes of February. Real time market volumes was at 2021 MUs and increased by 29.88% MoM and by 43% YoY. Term ahead market comprising intra-day, contingency, daily & weekly contracts traded 823 MUs and recorded 56.1% MoM increase. Green market also traded a cumulative of 392 MUs during March. REC market also saw a volume of 5.11 lakhs units in the trading session on March 30
Views: Buoyancy in volumes should continue led by early onset of summer season leading to increased demand for power, 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 & FY23 led by commencement of long duration contracts, Green Day ahead market and launch of electricity derivatives
Impact: Positive