 "Wockhardt, Bosch, Strides Arcolab extend rally post F&O entry")
Shares of Wockhardt, Bosch and Strides Arcolab were trading higher by up to 5%, extending past four days gain and hit their respective 52-week highs on NSE, after inclusion in derivatives segment.
At 1117 hours, Strides Arcolab and Bosch were up 5% each at Rs 972 and Rs 20,753 respectively, while Wockhardt was up 4% to Rs 1,006.
Bosch (Rs 20,888), Strides Arcolab (Rs 985) and Wockhardt (Rs 1,010) touched their respective 52-week highs during intra-day deal so far.
The National Stock Exchange (NSE) had included six companies - Amtek Auto, Bosch, Engineers India, Strides Arcolab, Indiabulls Housing Finance and Wockhardt - in its futures & options (F&O) segment w.e.f. November 28.
All these stocks outperformed the market by gaining between 2-24% after inclusion in F&O segment as compared to 0.53% rise in the benchmark CNX Nifty during the same period.
Typically, stocks entering the F&O segment gain ground due to improved liquidity and absence of circuit filters in the F&O segment. However, only fundamentals will drive the stock in the medium and long-term.
In past one week, Strides Arcolab has surged 24%, while Wockhardt soared 22% followed by Bosch (15%), Engineers India (8%), Indiabulls Housing Finance (3%) and Amtek Auto (2.5%).
At 1117 hours, Strides Arcolab and Bosch were up 5% each at Rs 972 and Rs 20,753 respectively, while Wockhardt was up 4% to Rs 1,006.
Bosch (Rs 20,888), Strides Arcolab (Rs 985) and Wockhardt (Rs 1,010) touched their respective 52-week highs during intra-day deal so far.
The National Stock Exchange (NSE) had included six companies - Amtek Auto, Bosch, Engineers India, Strides Arcolab, Indiabulls Housing Finance and Wockhardt - in its futures & options (F&O) segment w.e.f. November 28.
All these stocks outperformed the market by gaining between 2-24% after inclusion in F&O segment as compared to 0.53% rise in the benchmark CNX Nifty during the same period.
Typically, stocks entering the F&O segment gain ground due to improved liquidity and absence of circuit filters in the F&O segment. However, only fundamentals will drive the stock in the medium and long-term.
In past one week, Strides Arcolab has surged 24%, while Wockhardt soared 22% followed by Bosch (15%), Engineers India (8%), Indiabulls Housing Finance (3%) and Amtek Auto (2.5%).
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