NSE revises initial margins for Bank Nifty contracts

MUMBAI: The National Stock Exchange of India on Tuesday revised initial margins on the Bank Nifty contracts. The exchange also detailed the price scan range applicable for computation of initial margins for the futures and options on the Bank Nifty contracts. The exchange had said in a circular last September that the Clearing Corporation will monitor the open interest in derivatives based on sectoral indices particularly where top three stocks collectively constitute more than 50 per cent of the weightage of the index. If required, higher margins may be imposed as may be deemed necessary, the exchange had said.