Basics of Nifty futures
A FUTURES contract is a forward contract, which is traded on an Exchange. NSE commenced trading in index futures on
Contract Specifications & Trading Parameters
Contract Specifications: The security descriptor for the S&P CNX Nifty futures contracts is: Market type: NInstrument Type: FUTIDXUnderlying: NIFTY Expiry date: Date of contract expiry:
Instrument type represents the instrument i.e. Futures on Index.Underlying symbol denotes the underlying index which is S&P CNX Nifty. Expiry date identifies the date of expiry of the contract. The underlying index is S&P CNX NIFTY.
The Nifty: S&P CNX Nifty is a well diversified 50-stock index accounting for 23 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index-based derivatives and index funds. S&P CNX Nifty is owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL. IISL is
* The total traded value of all Nifty stocks is approximately 70 per cent of the traded value of all stocks on the NSE
* Nifty stocks represent about 60 per cent of the total market capitalisation
* Impact cost of the S&P CNX Nifty for a portfolio size of Rs 5 million is 0.20 per cent
Expiry day: S&P CNX Nifty futures contracts expire on the last Thursday of the expiry month. If the last Thursday is a trading holiday, the contracts expire on the previous trading day.
Price steps: The price step in respect of S&P CNX Nifty futures contracts is Re.0.05.
