NSE Introduced Nifty Financial Services Index-FINNIFTY
National Stock Exchange (NSE) very pleasing informed its stakeholders (after prior approval of SEBI) that they would commence the trading in the Futures & Options (F&O) including weekly options of the Nifty Financial Services Index from today, i.e. 11.01.2021. It will track the performance of NBFC, public/private Banks, insurance companies, financial institutions, housing finance and other financial institutions.
Nifty Financial Services Index Derivatives shall be “FINNIFTY”. (It was originally communicated to be “FINANCIALS”).
For the convenience of its members it had also conducted a mock trading session on 09.01.2021.
As a financial incentive, it was declared by NSE that NO TRANSACTION CHARGES will be levied on the trades executed in its F & O Contacts from 11.01.2021 to 30.06.2021.
COMPONENTS OF NIFTY FINANCIAL SERVICES INDEX -FINNIFTY
|Company Name||Industry||Weight (%)|
|Bajaj Finance Ltd||NBFC||5.64|
|Bajaj Finserv Ltd||Finance - Investment||2.29|
|Bajaj Holdings and Investment Ltd||Finance - NBFC||0.66|
|Cholamandalam||Finance Term Lending||0.66|
|HDFC||Finance - Housing||17.51|
|HDFC AMC||Finance - Investment||0.59|
|HDFC Bank||Bank - Private||27.13|
|HDFC Life||Life & Health Insurance||2.21|
|ICICI Bank Ltd||Bank - Private||14.14|
|ICICI Lombard||Multiline Insurance & Brokers||1.37|
|ICICI Prudential Life Insurance||Life & Health Insurance||0.74|
|Kotak Mahindra Bank||Bank - Private||12.1|
|Mahindra and Mahindra Financial Service||NBFC||0.44|
|Piramal||Other Financial Services||0.68|
|Power Finance||Finance Term Lending||0.54|
|REC Ltd||Finance Term Lending||0.49|
|SBI||Bank - Public||4.06|
|SBI Life Insurance||Life & Health Insurance||1.43|
|Shriram Trans||Finance - NBFC||0.86|
NOTE- All information above is has been compiled with publically available documents, please exercise due diligence before investing