National Stock Exchange of India Limited (NSE), India’s leading exchange successfully launched weekly options on the NIFTY 50 Index. The NIFTY 50 index options are already available for three monthly option contracts, three quarterly and eight semi-annual option contracts.
NSE witnessed excellent participation in the weekly options contracts on NIFTY 50 index. Day one recorded a turnover of 10.62 lakh contracts and saw an open interest of 0.95 lakh contracts in weekly options.
Vikram Limaye, MD & CEO of NSE, said, “NIFTY 50 Index options are based on our flagship index the NIFTY 50 and is one of our key products. The NIFTY 50 Index derivatives are traded by domestic as well as international participants.
With the successful launch of weekly options on NIFTY 50 Index, the market participants will now have an additional hedging tool to manage portfolio risk more effectively”
With the launch of weekly contracts on NIFTY 50 Index, NSE has added one more weekly derivative contract to its product suite. NSE had successfully launched weekly options on the NIFTY Bank Index (equity derivatives) in 2016 and USDINR currency pair (currency derivatives) in 2018. Both the products have been well accepted by markets.
NSE has also received permission from Securities and Exchange Board of India (SEBI) to launch weekly options on NIFTY IT Index. The contract details and the launch date will be announced shortly.