BSE shares climb 13% on revision in equity derivative segment transaction charges

Shares of BSE climbed 13 per cent in Monday's trade after the stock exchange said it would revise transaction charges in the equity derivatives segment. BSE told trading members that the revision in transaction charges structure for the equity derivatives segment will be revised from November 1.

Following the development, the NSE-listed stock rose 13.23 per cent to hit high of Rs 1,798. With this, the stock has rallied 274 per cent in the last six months. "The stock is purely enjoying its bull run since April this year. The trend remains upbeat and has entered a new phase of wave theory. Now the support of Rs 1,400 becomes a neckline for any downward reversal. Until this mark is protected, the bullish bias is anticipated to witness accumulation and addition in longs. The following support appears at Rs 1,200," said Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox.

Bagkar said the overall texture of the stock suggests a move towards the Rs 2,000-level, as the price action continues to overpower any sell-off in the overbought category of RSI.

BSE said changes would primarily be levied on S&P BSE Sensex options and that in the nearest or immediate expiry contracts. The new transaction fee structure is based on the incremental billable monthly turnover (premium value), BSE said adding that there has been no changes in the transaction charges in any other equity derivatives contracts.

"Accordingly, premium-based turnover on these nearest expiry contracts shall be calculated on daily basis and cumulated at the end of the month. Transaction charges shall be levied based on the slab on the Incremental turnover basis (as stated above) on cumulative turnover at the end of the month," it said.

BSE said its members would be provided a new turnover and transaction charges file based on the new transaction charges structure.

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