This is here to stay and grow. Total contract traded today is nearly 1 Crore and the turn over exceeded 6 lakh Crore. The figures are roughly double as compared to last Friday.
See the market summary as at end of day, today.
All that is missing currently is plunge of FII’s and i believe it is not going to be far away. A robust derivative market can attract more players to start ETF’s directly tracking the Sensex – currently i believe only few ETF’s are based on Sensex(SBI has one!). Mutual funds will have the opportunity to start hedging their Sensex positions via derivatives and BSE will slowly but steadily be in a position to start challenging the blue eyed big brother.
Market seems to have taken note of this – evident from the price movement over yesterday and today.
AJ
Disclosure: Remain invested.
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