Reliance Nifty ETF

Reliance Capital has started Nifty ETF from Nov 2013, and the adoption is still catching up. This ETF is 1/100 unit of the Nifty index. So at Nifty 6000, the ETF will be at 60.

Stock Name: R SHARES NIFTY ETF (or Rel Nifty ETF)
ICICI Direct code = RELET2

Reliance Mutual Fund appears to be maintaining liquidity in this ETF to enable investor adoption, which is good. As the liquidity is not high yet, this ETF is best suited for investors who want to buy 100-500 ETF shares per purchase, and hold them for over a year. This ETF is not yet suitable for trading, however, it could be ready in 6-12 months. As of now, Nifty trading is best done via Nifty futures.

For deploying larger capital in Nifty, this ETF is suitable:
Stock Name: Goldman Sachs Nifty Exchange Traded Scheme (or Nifty Bees)
ICICI Direct code = NIFBEE

Today’s buy-sell offers in Rel Nifty ETF.
R*Shares Nifty ETF
DATE: 18-Feb-2014
Bid Qty Bid Price Offer Qty Offer Price
4,107 60.65 5,000 61.53
10 60.40 200 61.85
200 60.15 200 61.86
200 60.10 200 61.87
200 60.04 200 61.88
Total Bid Quantity 11722
Total Offer Quantity 10755

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