Now, bet on Alibaba, FB, Apple right here to add zing to portfolio

Now you can bet on the world’s biggest technology and e-commerce companies right here in India. NSE IFSC has launched a single derivative contract in 15 global stocks, including Facebook, Alibaba, Amazon and Apple.

The global derivative basket also includes Microsoft, China Mobile, Johnson and Johnson, ExxonMobil Corporation, Bank of America, Wells Fargo, JPMorgan Chase, General Electric Company, AT&T Inc and Procter and Gamble and Alphabet.

In a circular, the exchange announced the introduction of these new contracts with effect from July 24.

Alphabet is a US-based parent of search engine Google. In the past one year, the share price of Alphabet has surged 31 per cent to $993.84 till July 21, whereas domestic benchmark BSE Sensex has advanced 16 per cent in the same period.

Stocks of Alibaba, Apple, Facebook and Wells Fargo have advanced 80 per cent, 52 per cent, 43 per cent and 12 per cent, respectively, in last one year.

In the F&O segment, there will also be day-spread contracts of all these underlyings. Instead of two transactions to be done to roll over a contract to the next series, it can be done as one transaction. This will bring down cost and reduce the risk of only one leg getting executed.

NSE IFSC is a fully-owned subsidiary company of National Stock Exchange of India, a stock exchange launched as a global trading platform in the International Financial Service Centre (IFSC) in Gujarat International Finance Tech (GIFT) City.