The Nifty PSU Bank index closed at its all-time high of 8184.35 points on Friday after the Securities & Exchange Board of India (Sebi) issued a circular to implement its eligibility criteria for derivatives trading in non-benchmark indices. Nuvama Institutional Equities listed three of its constituents as potential entrants to the Nifty Bank index.

Intraday, the index touched an all-time high of 8272.30 points.

As per the new criteria, the non-benchmark indices on which derivatives trade happen–Nifty Bank, Bankex, and Fin Nifty–will comprise at least 14 stocks. Nifty Bank has 12 constituents currently which means: at least 2 new banks are expected to join the index to meet this minimum requirement.

In its report, Nuvama said, top contenders in two scenarios. It said if there are two

See Full Page