BSE, Angel One shares slide up to 8% after Sebi chief calls for longer equity derivative tenures
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Shares of capital-market-linked firms BSE and Angel One came under pressure on Thursday, falling up to 8% after Securities and Exchange Board of India (Sebi) Chairman Tuhin Kanta Pandey flagged the need to extend the tenure of equity derivatives contracts, a move that could alter trading dynamics in one of the world’s busiest derivatives markets. BSE Ltd shares closed 7.7% lower at Rs 2,330.10 on the NSE, while Angel One shares ended 6.4% lower at to Rs 2,546.10. Speaking at the FICCI Annual Capital Market Conference in Mumbai, Pandey said, “There is a need to increase the tenure of equity derivatives.” He said that a consultation paper will be issued on extending the maturities of such contracts. Pandey noted that a surge in derivatives trading, largely fueled by retail investors, has already led Sebi to limit the number of contract expiries and raise lot sizes to make trades more expensive. Market risks in focus India accounts for nearl...