Shares of Future Retail Ltd today tanked by over 5 per cent after the National Stock Exchange said it would exclude the company from its derivatives segment with effect from January 31,2014.
Reacting to this,shares of Future Retail opened the day on a weak note and as the trade progressed it further lost 5.22 per cent to Rs 75.20 on the NSE.
On the BSE,the stock plunged 5.41 per cent to Rs 75.10.
The NSE in a circular dated yesterday said that contracts for new expiry months in Future Retail Limited security will not be issued on expiry of existing contract months.
However,the existing unexpired contracts of expiry months November,December and January would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months,it said.
“Accordingly,no contracts shall be available for trading in Future Retail Limited with effect from January 31,2014.” NSE added.