These 34 Stocks Will Exit F&O Segment From July Series
Today is the last trading day in the derivatives segment.
The National Stock Exchange will exclude 34 securities from the futures and options trading from Friday as these are found to be ineligible based on its enhanced selection criteria for the derivatives segment.
India’s largest bourse in a circular on April 22 had said no new contracts linked to these stocks will be issued but existing April, May and June contracts will be available for trading till their respective expiry. Today is the last trading day in the derivatives segment.
Since the NSE circular was issued:
- 24 stocks have fallen between 1 percent and 63 percent till Wednesday.
- 10 stocks have given positive returns.
List of 34 stocks
- Ajanta Pharma
- Allahabad Bank
- BEML
- Canfin Homes
- CEAT
- CG Power
- Chennai Petro
- DCB Bank
- Godfrey Phillips
- Godrej Industries
- Gujarat State Fertiliser
- IDFC
- IFCI
- India Cements
- Indian Bank
- Infibeam
- IRB Infra
- Jet Airways
- Jain Irrigation
- Kaveri Seed
- Karnataka Bank
- MRPL
- NHPC
- Oriental Bank
- PC Jeweller
- Repco Home
- Reliance Power
- South Indian Bank
- Suzlon
- Syndicate Bank
- Tata Communication
- TV18 Broadcast
- VGuard Industries
- Wockhardt
More Pain For Jet Airways
Besides excluding Jet Airways from the derivatives segment, the bourse will move the stock from rolling to trade-to-trade segment from June 28. There will be a 5 percent circuit on Jet Airways’ stock and buyers will have to compulsorily take delivery.
The airline has slumped 52 percent since the NSE circular revealed the exclusion list. The stock, however, had soared 150 percent intra-day on June 20 when the carrier was admitted for insolvency proceedings.
NSE’s enhanced eligibility criteria:
- Stock should be among the top 500 companies by daily average turnover.
- Market-wide position limit should not be less than Rs 500 crore.
- Over the last six months, a stock’s median quarter sigma order size by value—required to cause a one-quarter standard deviation change in the stock price—should not be Rs 25 lakh.
- Average daily turnover in cash should not be less than Rs 10 crore in the previous six months on a rolling basis.