The Securities and Exchange Board of India (SEBI) has extended the cross margining facility for all categories of market participants. It was earlier extended it only to the institutional trades. The move would help to satisfy the financial needs of various broking firms, as cost of working capital has risen sharply in the past few months.
After a smart opening today, Indian equities slipped into the negative terrain due to heavy selling pressure in select IT, realty, auto and FMCG stocks.
However metal and consumer goods stocks gained ground. BSE MIdcap and Smallcap index rose 0.55% and 0.27% respectively.
At 10.50 a.m., the 30-share index Sensex lost 95.21 points at 8,644.03 after hitting a high of 8,854.81 and a low of 8,620.71.
Doors are likely to be opened for the futures trading of four agriculture commodities on Sunday as the ban is lapsed on November 30 after period of at least six months. However, government has not issued any notification for futures trading in rubber, potato, chickpea and soya oil.
Futures trading is expected to start in a short time after the necessary notification by commodity markets regulator Forward Markets Commission (FMC).