The spike in BSE shares comes a day after NSE said it will discontinue weekly derivatives contracts on Bank Nifty, Nifty Midcap Select, and Nifty Financial Services.

BSE Share Price Hits Record High As NSE To Halt Three Weekly Option Contracts

National Stock Exchange (NSE) has retained Nifty weekly options contract while letting go Nifty Bank, Nifty Midcap Select and Nifty Financial Services, in line with the Sebi circular which mandates exchanges to provide derivatives contracts for only one of its benchmark index with weekly expiry, from November 20, 2024.

NSE chooses Nifty over Nifty Bank for weekly options contract. These 2 benchmarks to also go

SEBI directive leads NSE to discontinue weekly contracts on Bank Nifty, Nifty Midcap Select, and Nifty Financial Services.

NSE to discontinue F&O weekly contracts on Bank Nifty, 2 others

HDFC Asset Management Company Ltd is quoting at Rs 4423.8, up 1.24% on the day as on 12:49 IST on the NSE. The stock is up 61.03% in last one year as compared to a 26.28% spurt in NIFTY and a 18.88% spurt in the Nifty Financial Services index.

HDFC Asset Management Company Ltd spurts 1.24%

REC Ltd is quoting at Rs 545.6, up 2.48% on the day as on 12:49 IST on the NSE. The stock is up 87.11% in last one year as compared to a 26.28% gain in NIFTY and a 18.88% gain in the Nifty Financial Services index.

REC Ltd spurts 2.48%, up for third straight session

The move is part of Jio Financial Services’ plan to broaden its presence in the financial services industry, including asset and wealth management

Jio Payments Bank gets mutual funds distribution licence from Amfi

Mumbai (Maharashtra) [India], October 8: In a significant milestone for India’s financial services sector, Appreciate carried out the first low ticket (Rs. 100) mutual fund transaction on the Open Network for Digital Commerce (ONDC) Network. Appreciate is one of the first buyer apps to go live on ONDC Network offering mutual fund (MF) investments via Appreciate integrated investment platform.

Appreciate Becomes the First Company to Enable Mutual Fund Investments on ONDC Network

Ravindra Kumar Kundu has started his five-year term as Managing Director of Cholamandalam Investment and Finance Company. Appointed in July, Kundu brings over 36 years of experience in the automobile and financial services industry. He has been with the company for 24 years. He holds a Commerce degree and has completed several prestigious management programs.

Ravindra Kumar Kundu assumes office as Managing Director of Cholamandalam Investment and Finance Company

SBI Cards & Payment Services Ltd is quoting at Rs 730, down 1.77% on the day as on 13:19 IST on the NSE. The stock tumbled 6.79% in last one year as compared to a 27% rally in NIFTY and a 18.96% spurt in the Nifty Financial Services index.

SBI Cards & Payment Services Ltd down for fifth straight session

Strong foreign inflows into financial services sector drove the NSE Nifty Financial Services Index up 3.6% in September.

Foreign Investors Flock To Financial Services, Fuelling $3.2-Billion Inflow In September

IDFC Ltd will be removed from the Nifty Financial Services index and the futures and options (F&O) segment effective October 10, with Multi Commodity Exchange of India (MCX) replacing it. All existing IDFC F&O contracts set to expire after October 9 will instead expire on that date, with the settlement price determined by IDFC’s market price on October 9. Final settlements will occur on October 10, and traders are advised to close their F&O positions on IDFC before expiry to avoid physical settlement. Additionally, the NSE will adjust the lot sizes for 43 stocks in the F&O segment, effective November 1.

Short Take: Update on IDFC

Nifty Financial Services Index is designed to reflect the behaviour and performance of the Indian financial market which includes banks, financial institutions, housing finance, insurance companies and other financial services companies.

Nifty Financial Services Index

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