Shares of five new F&O entrants gain

The 5 stocks gain an average 2% even as the Nifty traded lower

Share prices of five new entrants to the future and options (F&O) segment gained on Tuesday despite the benchmark indices trading weak. The five stocks gained an average 2% even as the Nifty traded 0.4% lower.

On Monday, the National Stock Exchange (NSE) through a circular said that F&O contracts on Eicher Motors, Motherson Sumi, SKS Microfinance, Mindtree and TVS Motor would be available starting September 10, 2014.

Shares of Eicher Motors gained over a percent to Rs 11,111; Motherson Sumi added about 2.3% to Rs 394; SKS Microfinance gained 2.5% to Rs 339, Mindree was up 0.26% to Rs 1,151 and TVS Motor gained nearly 3% to Rs 224.

The NSE Nifty, meanwhile, was trading about 30 points, 0.4% lower at 8,114.

"Addition to the F&O segment increases trader interest and boost liquidity in a stock," said analysts.

"The market lot, scheme of strikes and quantity freeze limit of the above mentioned securities shall be informed to members on September 09, 2014 through a separate circular," the NSE has said.

Currently, there are about 135 stocks that are traded in the F&O segment of the NSE.