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National Stock Exchange has announced a revision in the expiry day of Bank Nifty monthly and quarterly contracts. Starting March 2024, these contracts will expire on Wednesdays, instead of Thursdays.
“If Wednesday is a trading holiday, then the expiry day is the previous trading day,” the NSE said.
Back in July, the NSE had shifted the Bank Nifty weekly expiry to Wednesday from Thursday but had left monthly and quarterly expiry unchanged. With the current revision, all expiries for Bank Nifty contracts will be on Wednesdays.
“There is no change in expiry date of monthly expiry contracts of January and February 2024. The first Wednesday monthly expiry will be on March 27, 2024,” the NSE said.
Multiple changes
The NSE’s initial plan was to shift the Bank Nifty expiry to Friday from Thursday but it was scrapped. “The BSE, based on market feedback, feels that this can potentially impact the growth of the Sensex and Bankex derivatives,” said the joint statement by the BSE and the NSE. In May, BSE had relaunched the Sensex and Bankex F&O contracts which expire on Fridays.
The new schedule for the NSE’s F&O contracts expiry looks like this: Monday – Nifty Midcap Select, Tuesday – Nifty Financial Services, Wednesday – Bank Nifty, and Thursday – Nifty 50.
NSE in CY23
The exchange boasts 73.7 percent global share in the number of contracts traded in equity derivatives in CY23 as of November-end. It had a 60.5 percent global share in the number of contracts traded in derivatives across all asset classes as of November-end.
Individual investors who have traded at least once in equity derivatives this calendar year stood at 83.6 lakh, up 31 percent year-on-year, while for cash segment the number declined 0.4 percent YoY to 2.67 crore. This only shows that number of speculators are steadily rising in Indian markets.
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NSE shifts Bank Nifty monthly, quarterly expiry to Wednesday, keeps weekly expiry unchanged – Moneycontrol
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