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Share prices of all five new entrants to the future and options (F&O) segment are trading higher by up to 10%, extending their previous day’s rally, in otherwise weak market.
Motherson Sumi Systems, Eicher Motors, TVS Motor Company, MindTree and SKS Microfinance are up 2-10% on the National Stock Exchange (NSE) even as the Nifty traded 0.5% lower.
On Monday, September 8, the NSE through a circular said that F&O contracts on these stocks would be available starting September 10, 2014. Addition to the F&O segment increases trader interest and boost liquidity in a stock.
Among the individual stocks, Motherson Sumi Systems has rallied 10% to Rs 443 on NSE. The stock opened at Rs 404 and touched a new high of Rs 444 on NSE. A combined 7.54 million shares representing nearly 1% stake of total equity of the company changed hands till 1500 hours. An average sub one million shares were traded daily in past two weeks on NSE and BSE.
In past three trading sessions, shares of auto parts and equipment maker has surged 15% from Rs 385 on September 8, compared to 1% decline in the benchmark index.
The open interest position in the futures segment of Motherson Sumi Systems has nearly doubled today. The open interest position for Motherson Sum futures rose to 2.39 million shares on September 10 — it was 1.14 million shares on September 9. This translates into a 92% growth.
Among the other stocks – Eicher Motors has rallied 6% to Rs 11,718, also its record high on NSE, followed by SKS Microfinance (4% at Rs 342), TVS Motor Company (up 3% at Rs 231) and MindTree (2% at Rs 1,167).
Motherson Sumi Systems, Eicher Motors, TVS Motor Company, MindTree and SKS Microfinance are up 2-10% on the National Stock Exchange (NSE) even as the Nifty traded 0.5% lower.
On Monday, September 8, the NSE through a circular said that F&O contracts on these stocks would be available starting September 10, 2014. Addition to the F&O segment increases trader interest and boost liquidity in a stock.
Among the individual stocks, Motherson Sumi Systems has rallied 10% to Rs 443 on NSE. The stock opened at Rs 404 and touched a new high of Rs 444 on NSE. A combined 7.54 million shares representing nearly 1% stake of total equity of the company changed hands till 1500 hours. An average sub one million shares were traded daily in past two weeks on NSE and BSE.
In past three trading sessions, shares of auto parts and equipment maker has surged 15% from Rs 385 on September 8, compared to 1% decline in the benchmark index.
The open interest position in the futures segment of Motherson Sumi Systems has nearly doubled today. The open interest position for Motherson Sum futures rose to 2.39 million shares on September 10 — it was 1.14 million shares on September 9. This translates into a 92% growth.
Among the other stocks – Eicher Motors has rallied 6% to Rs 11,718, also its record high on NSE, followed by SKS Microfinance (4% at Rs 342), TVS Motor Company (up 3% at Rs 231) and MindTree (2% at Rs 1,167).
