Kingfisher, 4 others fall after F&O exit

Shares of Kingfisher Airlines and four other companies today fell after the country's leading bourse National Stock Exchange (NSE) decided to exclude them from its derivatives trading segment.

The fall in the share price of Kingfisher Airlines was relatively small at 0.8%, after a heavy plunge in the stock in past few days over concerns related to the air carrier's funding woes.

However, the fall was as much as 11.43% for other four stocks -- JSW Holding, Great Offshore, Gitanjali Gems and KS Oils -- being removed from derivatives segment of the NSE.

At the NSE, Jindal South West Holding tumbled by 11.43% to settle at Rs 442, Great Offshore slumped as much as 5.88% to Rs 98.40, Gitanjali Gems lost 1.08% to Rs 337.95 and KS Oils dropped 1.42% to Rs 6.95.

Shares of Kingfisher Airlines fell by 0.83% to Rs 23.85.

Similar trends were seen in these stocks at the BSE also. Kingfisher fell by 0.62% to Rs 23.90, JSW Holding slumped 10.53%, Great Offshore dropped 5.54%, Gitanjali Gems declined 1.19% and KS Oils was down 1.27% at the BSE.

The NSE had said in a circular on Friday that derivative contracts in these five stocks would not be available after the expiry of the January series and these stocks would be dropped from the F&O (futures and options) list with effect from November 25.

The bourse has a review process based on various parameters, such as the company's market capitalisation, and the stocks falling short on these parameters are removed from the F&O list.

The overall market was also weak today and the bellwether index Sensex crashed by 425.40 points or 2.6% to finish the day at 15,946.10.

The NSE's benchmark index Nifty fell below 4,800 to close down 127.45 points at 4,778.35.