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In recent years the increasing importance of the future market in the Indian markets has received considerable attention from researchers, academicians and financial Analysis. the present study is undertaken with an attempt to determine the share price movements and its volatility of the selected ten companies of financial service sector, which is in nifty fifty companies list. In this research, we attempt to study the volatility implications of the introduction of derivatives on the cash market. Through this study, we seek evidence regarding whether the listing of futures and options lead to any significant change in the volatility of the cash market in India. We select a general index called the S&P CNX Nifty Index to which the first derivatives contract was introduced by the NSE in India. The previous study noted the peculiar characteristics of IT stocks and arrived at the conclusion that stock-specific characteristics must be studied for any general conclusion. As a benchmark index, the Nifty Index is expected to show wider, more balanced and more applicable results and thus can be treated as a true replica of the Indian derivatives market. Most of the Indian studies did not consider options contract, but this study examines the introduction of options while also analysing volatility Capital market is a place for buying and selling of long- term financial claims. It is themarket wheretransactions are made in long term securities such as stocks and bonds. The participants of this market includes various financial institutions, mutual funds, agents, brokers, dealers, individual investors andother borrowers andlenders oflong term debt and equity capital. Capital market consists of two majorparts