Comparatively the contract value of Sensex is lower than the Nifty. So, I think that is also for competition, that is also for more retail participation and again this is for, as per the rule of keeping the derivatives contract value to 5 lakh rupees.
Nifty Bank index fell 0.09% on Thursday to close at 44,161. The index hit an intraday high of 44,420 but it failed to hold on to the momentum. Top index gainers include names like IDFC First Bank, PNB, and AU Small Finance Bank, while some profit booking was seen in Axis Bank and ICICI Bank.
With the highest returns of 9.38%, M&M was the top performer in the pack and was followed by Adani Ports (9.34%) and NTPC (9.14%). LTIMindtree, Tech Mahindra, and Infosys gave between 6-8.85% returns.