BSE shares up 16% on F&O expiry plan

Mumbai: The stock price of the BSE, the oldest stock exchange in Asia, rallied over 17% in intraday trade on the NSE on Friday after Sebi on Thursday night said it was proposing just one day of the week - either Tuesday or Thursday - for settlement of all equity F&O contracts. Investors feel this will protect BSE from NSE's aggressive stance relating to futures & options trading which has more than 90% share of the turnover. The BSE stock - listed only on the NSE - opened at Rs 5,000, which was also the day's low, and rallied to a high of Rs 5,534 and closed at 5,438, up 16% on the day.
On Friday, select pharma and auto stocks came in for heavy selling on the back of fears about high tariffs by the US.