Beginning Monday, Indian investors will be able to trade in derivatives contracts on the Dow Jones Industrial Average and the S&P 500 indices right here in the country, paying in rupee. The National Stock Exchange (NSE), the biggest stock exchange in India by turnover, will launch derivatives contracts on these two indices. 

This is the first time that derivatives contracts on these two indices will be traded on any exchange outside of US, a statement from NSE said. 

"Derivative contracts on these global indices will provide Indian investors easy access to the US markets in Indian market hours, without taking any currency risk," Ravi Narain, MD & CEO, NSE, said. While, NSE will launch futures contracts on both the Dow Jones and the S&P 500 indices, options contracts will be available only on the S&P 500 index. The Dow Jones index constitutes stocks of 30 of the largest listed US companies while the S&P 500 tracks 500 leading US stocks listed on NYSE and Nasdaq exchanges. Globally, these two indices are among the most tracked stock market benchmarks.