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NSE-IT logs into futures

Mumbai, Aug. 29: The National Stock Exchange has launched futures and options trading in the IT index today.

The new product in a fast expanding derivatives market comes at a time when the technology sector is being re-rated at the bourses. NSE said it would permit trading in these instruments from today.

The derivatives segment, which was launched in place of the old badla system three years ago, has rocketed NSE way ahead of the Bombay Stock Exchange (BSE), its closest competitor. NSE offers futures and options in several stocks and indices. The segment has a daily volume of over Rs 2,600 crore.

The base date for the index will be January 1, 1996, and the base value will be 1,000 points. The contract size will be 20 units and the tick size 0.05 points.

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