Close on the heels of the attention grabbed by Reliance Petroleum Ltd (RPL) recently after it became the first S&P CNX Nifty constituent to breach the 95% marketwide limit in the futures and options (F&O) segment of the National Stock Exchange (NSE), there was a huge interest seen in 15 counters where NSE will introduce F&O products shortly.
The inclusion of 15 additional securities in NSE?s F&O list has generated good response from the investing community on these counters.
As a result, all these stocks witnessed healthy trading volumes on Wednesday with their share price soaring higher in the range of 3% to 20%. These stocks will be available for trading in the NSE F&O segment with effect from November 30, with the beginning of December derivative series.
Prominent gainers among them include Jindal Saw, which surged by Rs 65.10 or 8.26% at Rs 853.35, KPIT Cummins that rose by Rs 19.95 or 19.99% at Rs 119.75, Development Credit Bank up by 19.02% or Rs 23.60 at Rs 147.70, Motor Industries surged by 10.91% or Rs 485.40 at Rs 4,935.35 while Global Broadcast News went up by Rs 56.55 or 6.27% to close at Rs 957.95.
Siddarth Bhamre, derivatives analyst, Angel Stock Broking, said, ?Unlike previous occasions, where more of speculative and bad quality stocks were included, this time new entrants are a mix of both.?
Stocks like J&K Bank, Shree Cement, Nucleus Software and Tulip, which were previously included in the F&O space, saw little activity in the counter.
In J&K Bank counter, total individual stock futures contracts including all the three series ? November, December and January ? stood at 100.
?With the entry of Hindustan Zinc in the F&O space, investors in the commodity market can now hedge their position by either going long or short on the stock,” Bhamre added.