BSE shares rise 2% on SEBI's nod to launch derivatives for Sensex Next 30 index

BSE shares rise 2% on SEBI's nod to launch derivatives for Sensex Next 30 index

BSE shares rose 2% on March 5 after the stock exchange received approval from capital market regulator Securities and Exchange Board of India (SEBI) to launch derivative contracts for the BSE Sensex Next 30 index.

The BSE Sensex Next 30 index tracks the next largest and most liquid companies in the BSE 100 that are in the derivative segment and are not constituents of the BSE Sensex 30 index.

In a regulatory filing on Wednesday after market hours, BSE said it will offer cash settled monthly index futures and monthly index options. The expiry date for the contracts will be the last Thursday of the expiry period.

However, BSE didn't inform about the launch date of F&O (futures & options) contracts for the Sensex Next 30 index.

At 9:27 am on March 5, BSE shares were trading nearly 2% higher at Rs 2,674.5 apiece. What's also aiding the sentiment is that the market gave a gap-up opening on March 5.

Currently, BSE offers both weekly and monthly derivative contracts for the benchmark index Sensex. Besides, it offers derivative contracts for Sensex 50 and BANKEX with monthly expiries.

Last year, the exchange had moved the expiry date for all derivative contracts from Tuesday to Thursday with NSE taking the Tuesday slot.

Nifty Capital Markets index was trading 1.5% higher on March 5 with MCX, Kfin Tech leading the gains by rising 2.5% and 2.3%, respectively.