Comments
Shares of Eicher Motors, Motherson Sumi Systems, SKS Microfinance, MindTree and TVS Motor Company have gained between one and three per cent, as the NSE has included them in the derivative segment.
"Members are advised to note that... the futures and options contracts on five additional securities would be available for trading w.e.f. September 10,'' the NSE said in a circular on Monday.
MindTree, which jumped to a high of Rs 1,168.10 in early trade, is currently hovering around Rs 1,155 on the NSE. Motherson Sumi jumped 2.7 per cent at Rs 395.75, Escorts gained 1.7 per cent at Rs 139.7 and TVS Motor Company shares jumped 2.11 per cent at Rs 222.45
Shares generally see buying momentum initially on news of inclusion in F&O segment, as traders and arbitrageurs try to build positions. However, only fundamentals will drive the stock in the medium and long-term.
Shares of L&T Finance Holdings and Just Dial, which were included in F&O segment in March this year, are displaying divergent trend. While the former is trading lower compared with the day on which (March 13) it entered the segment, the latter, after hitting an life-time high at Rs 1,895 in August, is ruling at Rs 1,725.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.