Last month in January FIIs were Sellers to the tune of $ 3 billion, whereas in the year 2007 they had net investments of $ 17.23 billion. Majority of the selling happened during the recent market crash between 16th Jan to 24th Jan, they sold $ 3.65 billion worth of shares. February seems to be better compared to January, as per SEBI data for 4th feb they were net buyers of $ 944 million.
We feel the major sell-off has already happened and the market has already seen its bottom. The market is likely to remain volatile but unlikely to go below the January low. Investors should buy at every fall but stay patient as the market will remain volatile for few more months.
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Mini Nifty
NSE introduces Nifty Mini Derivative contracts with lot size of 20. This opens gate for retail investors to take part in Nifty50, an index that is tracked and traded widely by the world.
Mini Nifty derivative contracts for trading from 1st Jan 2008.
Symbol - MINIFTY
Nifty 50 as underlying index, widely tracked and traded by the world.
Lot size of 20, to provide easy access to retail investors.
Better access for small investors.
Arbitrage possible between Nifty derivative contracts and Nifty 50 Mini derivative Contracts
Lower capital outlay (for margin) and lower trading costs for investors.
Mini Sensex
For the first time in India, Bombay Stock Exchange offers mini Futures and Options contracts on the leading Indian equity Index ‘SENSEX ‘ for retail investors to participate in the ever growing Derivatives market. The SENSEX is the barometer of the Indian Capital Markets and widely tracked in the global financial markets.
Since mini futures and options have market lot of FIVE, lower capital outlay and lower trading costs
Smaller size allows for more precise hedging and flexible trading.
Possible arbitrage between existing SENSEX Futures (bigger market lot) & SENSEX mini Futures (market lot 5).
SENSEX constitutes 30 leading companies of diverse industries covering 12 broad sectors of
the Indian economy. Provides macro view of economy to retail as well as institutional investors.
Security Symbol - MSX
Underlying Index - SENSEX
Price Quotation - Index Points
|Market Lot - 5
|Delivery - Cash Settlement
|Tick Size - Rs. 0.05 i.e. 5 paisa
Strike Price Intervals - For options - min 3 strikes (1 In-the-money, 1 At-the-money, 1 Out-of-money)
Trading Hours - 9:55 a.m. to 3:30 p.m.
Contract Months - 1, 2 & 3 months plus weekly options also available.
Last Trading Day -
Last Thursday of the contract month. If it is holiday, then the immediately preceding day.
Final Settlement Price -
On the last trading day, the final settlement price of the expiring Futures / Options contract would be based on the closing value of the underlying index i.e. the SENSEX.
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Mini Nifty, Mini Sensex, Nifty, Sensex