In a bid to add some more pace to the already run away turnover in the futures and options segment, National Stock Exchange on Monday extended the transaction fee based concessions available to NIFTY Junior and CNX 100 so far, to its proposed derivative contracts in Nifty Midcap 50 index.
Meanwhile, Nifty Junior crossed 10,000-point mark for the first time fuelled by a rally in Reliance Capital, which gained 14.18 per cent in single session to close at Rs 1,808. The index was introduced only in June 2007 and today.
It had been the best performing index, along with CNX Midcap, among the Nifty suit of indices, with about two per cent gain each.
The exchange has announced the concessions, including waiver of fee based on turnover logged in these contracts, on the index, which will be available for trading from October 5, 2007.
"If the daily average turnover of a trading member is above Rs 10 crore in any of the above three contracts (based on monthly volume) in the futures sub segment, no transaction charges will be levied on all transactions for that specific contract for that trading member," NSE said in a release.
If the trading member could log in a daily turnover of Rs 20 crore in any of the three contracts, the member is eligible for fee waiver on trades equal to three times that turnover in Nifty futures.
If the trading member could log in a daily turnover of Rs 20 crore in any of the three contracts, the member is eligible for fee waiver on trades equal to three times that turnover in Nifty futures.
No transaction charges are being levied on trades done in NIFTY Junior, CNX 100 and NIFTY Midcap 50 in the Options sub-segment. That status will remain unaltered.