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

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Tags: #NSE launches derivatives on Nifty Next 50 Index

India services PMI dips to 60 8 in April

06 May 2024 | 12:42 PM

New Delhi, May 6 (UNI) India's services sector activities remained in expansion mode but the pace of growth slowed down in the month of April this year with services PMI (purchasing managers’ index) dropping to 60.8 during the month compared to 61.2 in March, as per a private survey released on Monday.

NSE launches derivatives on Nifty Next 50 Index

India services PMI dips to 60 8 in April

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UKIMATH, MAY 6 (UNI):- The holy palanquin of Baba Kedarnath leaves for Kedarnath Dham from winter abode, Omkareshwar temple at Ukhimath on Monday.UNI PHOTO-75U

UKIMATH, MAY 6 (UNI):- The holy palanquin of Baba Kedarnath leaves for Kedarnath Dham from winter abode, Omkareshwar temple at Ukhimath on Monday.UNI PHOTO-74U

UKIMATH, MAY 6 (UNI):- The holy palanquin of Baba Kedarnath leaves for Kedarnath Dham from winter abode, Omkareshwar temple at Ukhimath on Monday.UNI PHOTO-74U

UKIMATH, MAY 6 (UNI):- The holy palanquin of Baba Kedarnath leaves for Kedarnath Dham from winter abode, Omkareshwar temple at Ukhimath on Monday.UNI PHOTO-73U

PANAJI, MAY 6 (UNI):- Polling officials carrying Electronic Voting Machine (EVMs) for the 3rd Phase General Elections-2024 at the Dr. Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-70U

PATNA, MAY 6 (UNI):- Teachers celebrating the success of their students by offering sweets after the declaration of class 10th and 12th results of the ICSE Exam, at a school, in Patna on Monday. UNI PHOTO-72U

PANAJI, MAY 6 (UNI):- Polling officials checking and distributing the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr.Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-69U

AHMEDABAD, MAY 6 (UNI):- Polling officials carrying the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the C N Vidhyalay Ambawadi, in Ahmedabad on Monday. UNI PHOTO-68U

RAIPUR, MAY 6 (UNI):- Polling officials carrying the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the National Institute of Open Learning, BTI Ground in Raipur, Chhattisgarh on Monday. UNI PHOTO-71U

RAMGARH, MAY 6 (UNI):- Former Jharkhand Chief Minister Hemant Soren on his parole along with his wife and JMM Leader Kalpana Soren during funeral procession of his uncle at Nemra, in Ramgrah, Jharkhand on Monday. UNI PHOTO-67U

PANAJI, MAY 6 (UNI):- Polling officials with foreign delegates checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr. Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-66U

RANCHI, MAY 6 (UNI):- Congress candidate Yashaswini Sahay with her father former Union Minister Subodh Kant Sahay, Jharkhand Miniser Alamgir Alam and others during an election campaign rally for Lok Sabha polls, in Ranchi on Monday. UNI PHOTO-37U

AHMEDABAD, MAY 6 (UNI):- Glimpses of the preparations of the 3rd Phase of Elections at CN Vidyavihar, Ambawadi, in Ahmedabad on Monday. UNI PHOTO-35U

HYDERABAD, MAY 6 (UNI):- Dr.Arathi Krishna, AICC Secretary, In-charge of the Indian Overseas Congress, addressing a press conference at the party office Gandhi Bhavan, in Hyderabad on Monday. UNI PHOTO-56U

AGRA, MAY 6 (UNI):- Ramesh Chand Kushwah 78, India's longest moustache man appealing voters to cast their valuable votes for the Lok Sabha election, in Agra on Monday.UNI PHOTO-65U

AGRA, MAY 6 (UNI):- Ramesh Chand Kushwah 78, India's longest moustache man appealing voters to cast their valuable votes for the Lok Sabha election, in Agra on Monday.UNI PHOTO-64U

PANAJI, MAY 6 (UNI):- Polling officials with foreign delegates checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr. Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-62U

PANAJI, MAY 6 (UNI):- Polling officials with foreign delegates checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr. Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-61U