India exchanges, brokers rise as regulator may partly reverse derivative settlement rules
India's markets regulator is likely to stop using closing auctions to calculate derivatives settlement prices for at least a year, The new method, implemented from August 3, led to sharp swings and triggered a drop in derivatives trading volumes. Exchange operators BSE and National Stock Exchange of India rose 2.1% and 1.6%, respectively, while brokerage firms Motilal Oswal and Angel One gained 2% and 1.7%, respectively. The Nifty Capital Markets index was up 1.3%.
7%. 3%. The current method, in place since August 3, has triggered sharp swings and a decline in derivatives trading volumes. ICICI Securities said the proposed change could be seen as positive for exchanges and market intermediaries, with volumes expected to recover.
5% drop.