Saturday, May 4 2024 | Time 18:19 Hrs(IST)
image
Business EconomyPosted at: Apr 24 2024 9:16PM


NSE launches derivatives on Nifty Next 50 Index

Mumbai, Apr 24 (UNI) National Stock Exchange of India Ltd (NSE), the world’s largest derivatives exchange for consecutive fifth year in a row in the year 2023 based on contracts traded as published by FIA, launched futures and options contracts on the Nifty Next 50 Index on Wednesday.

The new derivatives contract has received positive response from market participants. More than 375 trading members from across the country participated in the index derivatives. The trading members involved in execution of the initial trade include East India Securities Limited, and Samco Securities Limited.

The first day witnessed 1,223 number of contracts traded worth Rs. 78.16 crores in Futures and 1,724 number of contracts worth Rs 1.55 crores of premium turnover in Options.

The Nifty Next 50 index provides representation to large capitalisation stocks beyond the Nifty 50 index. The stocks part of the Nifty Next 50 are the potential contenders for being included in the coveted list of 50 stocks forming part of the Nifty 50 index subject to meeting the parameters specified in the index methodology.

The Financial Services Sector has the highest weightage in the index accounting for 23.76% followed by Capital Goods sector with 11.91% and Consumer Services sector with 11.57%.

The Nifty Next 50 index futures and options contracts with its contract symbol “NIFTYNXT50” are available with trading cycle of 3 serial monthly contracts. The derivatives are cash settled with expiry day being the last Friday of the expiry month.

Exchange has provided a transaction fee waiver on the Nifty Next 50 Index derivatives up to October 2024.

On the occasion, Sriram Krishnan, Chief Business Development Officer, NSE, said “We thank all the trading member fraternity and all stakeholders for their tremendous support in successfully launching the derivatives contracts on Nifty Next 50 index. The derivative product is unique considering the underlying index does not have overlapping constituents with the other market capitalisation based broad indices on which derivatives are available on NSE. With increasing interest of participants beyond the top 50 stocks, this index will provide an additional tool for risk management.”
UNI SJC KK
Please log in to get detailed story.
Tags: #NSE launches derivatives on Nifty Next 50 Index
More News

Kottayam-Kochi Rubber Market Rates

03 May 2024 | 8:27 PM

Kottayam, May 3 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Friday per quintal.

see more..

M&M leads Indian auto-pack with record-breaking 674 patents in FY24

03 May 2024 | 7:12 PM

Kolkata, May 3 (UNI) Mahindra & Mahindra (M&M), the automotive and farm equipment flagship of the Mahindra Group, has received a record 674 patents in FY24, the most of any Indian 4-wheeler automobile/farm equipment manufacturer.

see more..

MRF' s consolidated income Rs 25,486 cr in FY 2023-24

03 May 2024 | 7:00 PM

Chennai, May 3 (UNI) Tyre major MRF' s consolidated total income is Rs 25,486 Crores for the year ended March 31, 2024, as compared to Rs. 23,261 crores in the previous year.

see more..
Rs 2000 banknotes continue to be legal tender; 97 76% returned till now: RBI

Rs 2000 banknotes continue to be legal tender; 97 76% returned till now: RBI

03 May 2024 | 6:48 PM

Mumbai, May 3 (UNI) The Government has received 97.76 percent of Rs 2000 currency notes as on April 30, 2024, the RBI said on Friday while adding that the banknotes continue to be legal tender.

see more..

RXIL TReDS surpasses Rs 1 lakh cr in invoice financing for MSMEs

03 May 2024 | 6:23 PM

Mumbai, May 3 (UNI) Receivables Exchange of India Limited (RXIL) Trade Receivables Discounting System (TReDS) has achieved a significant milestone, facilitating financing of over 50 lac invoices worth Rs one lakh crore since its inception, providing accessible working capital financing solutions to Micro, Small and Medium Enterprises (MSMEs) in India which play a pivotal role in driving economic growth and facilitating the nation's journey towards achieving a Rs five trillion economy.

see more..
image