The NIFTY futures market is based upon the Nifty stock index, which is the primary stock index of the National Stock Exchange (NSE) in India. The Nifty stock index consists of fifty companies that represent the diversity of the stocks that are traded on the NSE. The Nifty stock index is calculated in real time, and the NIFTY futures market is traded on the NEAT electronic trading system from 9:55 AM to 3:30 PM Indian Time.
Companies
As of September 2008, the Nifty stock index includes the following fifty companies:
- ABB
- ACC
- Ambuja Cements
- Bharat Heavy Electricals
- Bharat Petroleum Corporation
- Bharti Airtel
- Cairn India
- Cipla
- DLF
- Dr. Reddy's Laboratories
- GAIL (India)
- Grasim Industries
- HCL Technologies
- HDFC Bank
- Hero Honda Motors
- Hindalco Industries
- Hindustan Unilever
- Housing Development Finance Corporation
- I T C
- ICICI Bank
- Idea Cellular
- Infosys Technologies
- Larsen & Toubro
- Mahindra & Mahindra
- Maruti Suzuki India
- NTPC
- National Aluminium Co.
- Oil & Natural Gas Corporation
- Power Grid Corporation of India
- Punjab National Bank
- Ranbaxy Laboratories
- Reliance Communications
- Reliance Industries
- Reliance Infrastructure
- Reliance Petroleum
- Satyam Computer Services
- Siemens
- State Bank of India
- Steel Authority of India
- Sterlite Industries (India)
- Sun Pharmaceutical Industries
- Suzlon Energy
- Tata Communications
- Tata Consultancy Services
- Tata Motors
- Tata Power Co.
- Tata Steel
- Unitech
- Wipro
- Zee Entertainment Enterprises
Contract Specifications
The full contract specifications for the NIFTY futures market are as follows:
- Symbol: NIFTY
- Expiration date (as of September 2008): September 25 2008 (the last Thursday of every third month)
- Exchange: NSE
- Currency: Rupee (RS)
- Multiplier / Contract value: 50 RS
- Tick size / Minimum price change: 0.05
- Tick value / Minimum price value: 2.5 RS
Holidays
In 2008, the NIFTY futures market is open for trading every trading day (Monday to Friday), except for the following holidays:
- March 06
- March 20
- March 21
- April 14
- April 18
- May 01
- May 19
- August 15
- September 03
- October 02
- October 09
- October 28
- October 30
- November 13
- December 09
- December 25
Exchange Web Site
The National Stock Exchange web site is available at http://www.nse-india.com/, and provides additional information about the exchange, its trading system, and the Nifty index and futures market.
