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From today, the derivative segment sees the addition of 45 stocks including Adani Energy Solutions, Adani Green Energy, Adani Total Gas, Zomato, Jio Financial, Paytm, Delhivery and Avenue Supermarts.
The new entrants will be available for trading in the F&O segment from November 29, the exchanges said. Some of the counters that have higher lot size included Yes Bank, which will have a market lot of 26,000, IRB Infrastructure (10,250), NHPC (6,400), Bank of India (4,825), SJVN (4,725) and HFCL (4,150).
The other widely tracked stocks that entered the F&O segment included Angel One, LIC, Bank of India, BSE, CAMS, CDSL, Delhivery, Hudco, JSW Energy, Lodha, Nykaa, Kalyan Jewellers, Tata Elxsi and Union Bank of India.
Recently, market regulator SEBI tweaked the eligibility criteria for entry and exit of stocks in the derivatives segment to ensure that only high-quality stocks with sufficient market are allowed to trade in the segment.
Accordingly, a stock’s median quarter sigma order size and its market wide position limit over the previous six months, on a rolling basis, should not be less than ₹75 lakh and ₹1,500 crore, respectively. The requirements for both these criteria has been raised 3x. A stock’s average daily delivery value in the cash market, in the previous six months on a rolling basis, should not be less than ₹35 crore.
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In addition, aspects such as surveillance, investigation, or administrative concerns will be taken into account while considering a stock for introduction into derivatives segment.
Besides, SEBI has initiated product success framework (PSF) for single stock derivatives.
“At least 15 per cent of trading members active in all stock derivatives or 200 trading members, whichever is lower, should have traded in any derivative contract on an average on monthly basis on the stock being reviewed. Trading should be on a minimum of 75 per cent of the trading days, with average daily turnover of at least ₹75 crore. Average daily notional open interest of at least ₹500 crore is needed during the review period,” SEBI said.
“A stock that is excluded due to PSF will not be considered for re-inclusion for one year,” SEBI added.
Analysts advise traders and investors to take informed decision on these stocks, as they will not attract any circuit filter.
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