Shares of BSE Ltd staged a sharp upward move in Friday's trade after the National Stock Exchange (NSE) deferred its decision to change weekly and monthly expiries of futures and options (F&O) trades to Mondays from Thursdays.
The stock soared 14.52 per cent to hit a high of Rs 5,364.40. Last checked, it was up 14.72 per cent at Rs 5,373.75. At this price, the scrip has gained 44.87 per cent in six months.
NSE said the implementation of its previous circular on derivatives expiry is deferred "until further notice in view of Sebi consultation paper." NSE had stated that the circular would come into effect from April 4, 2025.
If Sebi's consultation papers are implemented in the future, NSE may have to stay with a Thursday expiry and BSE with a Tuesday expiry.
"The expectations of a market share loss and an EPS (earnings per share) cut actually got reflected in terms of the fall which happened on the stock. The recovery is coming back as there might not be any market share loss per se. The bonus announcement is giving impetus to the stock," Mayuresh Joshi, Head-Equity Research at William O'Neil India, told Business Today.
BSE's board will meet on Sunday (March 30) to discuss a proposal on bonus shares. If declared, this would be the second bonus issue by the stock exchange since 2022.
After today's run-up in the share price, a market expert said investors should book profits while advising against shorting the stock.
"As far as the BSE stock is concerned, I think it has run up very fast from the recent low. After today's gap-up start, I would advise the clients to book profits because there are strong chances that the stock will again test the Rs 4,500-4,800 band. Current levels will be an excellent price to book profits. It is advised not to short this stock. If you're already long on the counter, book profits," said Sebi-registered analyst Mitesh Panchal.