Nifty 50 weekly options launched

The NSE on Monday launched weekly options on the Nifty 50 Index. The index options are already available for three monthly option contracts, three quarterly and eight semi-annual option contracts. According to an NSE statement, weekly options contracts on Nifty 50 index recorded a turnover of 10.62 lakh contracts and saw an open interest of 0.95 lakh contracts. Vikram Limaye, MD & CEO, NSE, said with the launch of weekly options, the market participants will now have an additional hedging tool to manage portfolio risk more effectively.