Shares of several prominent companies saw significant gains on Friday, as newly added stocks to the Futures and Options (F&O) segment surged on the National Stock Exchange (NSE). Nearly 50 per cent of the 45 new stocks introduced to the F&O segment today were trading with a positive bias, reflecting strong investor interest and higher trading activity. These stocks are often seen as eligible candidates for inclusion in major indices, such as the BSE (Bombay Stock Exchange) and the NSE, and are frequently used by investors for hedging purposes.
Among the top gainers in the F&O debut were stocks from the Adani group, which saw a sharp rise in share prices following renewed backing from significant international investors. Shares of Adani Green, Adani Energy Solutions, and Adani Total Gas surged by 6-9 per cent each. The boost in Adani shares came after Abu Dhabi-based International Holding Company (IHC), one of the largest sovereign wealth funds managing assets close to $100 billion, reaffirmed its support for the Adani Group. This move helped calm investor concerns following charges levied against the conglomerate by the US Securities and Exchange Commission (SEC). Additionally, Japan’s biggest banks have indicated their intent to maintain ties with billionaire Gautam Adani, despite the ongoing controversy surrounding the group.
Among other notable gainers, LIC India saw a rally of nearly 4 per cent. Shares of BSE, Angel One, Jio Financial Services, and CDSL were also up by 2-3 per cent, adding to the positive momentum in the market. These stocks joined the ranks of high performers alongside others such as Computer Age Management, APL Apollo Tubes, NCC, and Varun Beverages, which also saw gains in the 2-3 per cent range.
On the flip side, the day was not as favourable for all stocks. Poonawala Fincorp was the major loser in the F&O list, dropping nearly 4 per cent. Max Healthcare, Nykaa, NHPC, and IRFC also faced losses, falling by 2-3 per cent each. Nykaa, in particular, saw its stock dip by 2 per cent, reversing some of the positive sentiment surrounding the online beauty retailer in recent months.
The NSE’s introduction of the new F&O stocks on November 13, 2024, sparked significant trading activity, and by the end of November 28, 2024, 37 out of the 45 stocks had logged net gains. Paytm was the standout performer, soaring more than 23 per cent during this period. The digital payments company was followed closely by Adani Total Gas and PB Fintech (PolicyBazaar), which rose by 18 per cent and 15 per cent, respectively.
Other companies that saw solid gains included SJVN, HUDCO, CDSL, Zomato, KEI Industries, IRB Infra, Angel One, HFCL, Prestige Industries, and IRFC, all of which posted increases in the range of 10-13 per cent. Additionally, stocks like CG Power, Jio Financial Services, NHPC, YES Bank, Macrotech Developers, Kalyan Jewellers, Oil India, and Tata Elxsi also saw gains of over 5 per cent each in the lead-up to the F&O entry.
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However, not all stocks enjoyed the rally. Among the biggest losers in the last two weeks were the Adani twins—Adani Green and Adani Energy Solutions—which plummeted by 26 per cent and 18 per cent, respectively. Other notable decliners included Jindal Stainless, which dropped 19 per cent, and JSW Energy, which also faced a significant decline.
The dynamics of the F&O market, with its potential for increased volatility, continue to shape investor sentiment and stock price movements. As more companies enter the F&O segment, market watchers are closely monitoring the ongoing trends, particularly in the context of global economic pressures and the regulatory scrutiny faced by major Indian conglomerates like Adani.
While the F&O segment can provide opportunities for profit, it also comes with increased risk, especially for those investing in newly introduced stocks. As the market adapts to these changes, it remains to be seen whether the positive momentum will continue for the top gainers, or if the underperformers will manage to recover in the coming weeks. The fluctuations in stocks like Nykaa and Poonawala Fincorp highlight the inherent volatility in the stock market, particularly when it comes to the fast-paced world of futures and options trading.
