Jio Financial, Paytm, Zomato rally up to 7% on inclusion in F&O segment

In a circular issued on November 13, NSE said, “Members are hereby notified that the futures and options contracts on the following 45 additional securities would be available for trading w.e.f. November 29, 2024.”

The list included names like Jio Financial, Paytm, Zomato, Delhivery, D-Mart, Life Insurance Corporation of India (LIC), Yes Bank, BSE, Nykaa (FSN E-Commerce Ventures Ltd), PolicyBazaar (PB Fintech Ltd), among others. Three Adani group companies – Adani Energy Solutions, Adani Green Energy and Adani Total Gas – were also added in the F&O segment.

Other names included Angel One, Bank of India, CDSL, Cyient, Hudco, KPIT Technologies, Oil India, Tata Elxsi, Tube Investments, JSW Energy, Jindal Stainless etc.

NSE said that the market lot, scheme of strikes and quantity freeze limit of the securities added to the F&O segment shall be informed to members on November 28 through a separate circular.

Following the announcement, Jio Financial Services Ltd shares rallied as much as 6.8% on NSE on Thursday to hit an intra-day high of ₹319.80.

Shares of One 97 Communications Ltd, parent firm of Paytm, jumped as much as 5.9% to hit the day’s high of ₹797.55, while Zomato climbed 4.8% to ₹270.7 apiece on the NSE.

Meanwhile, PolicyBazaar shares also shot up as much as 5.4%, DMart rose 2.6%, Yes Bank was up 2.9%, while LIC gained 1.4%.

The addition to the F&O segment pushes up the stock price of the company as it enhances the participation of investors in the trading of the stock, leading to better price discovery and higher liquidity. Also, addition in the F&O segment makes these stocks unofficial eligible candidates for inclusion in the equity benchmark Nifty 50 index.