National Stock Exchange (NSE) announced in a circular on Tuesday that expiry of Nifty Bank Futures and Options (F&O) has been shifted from Thursday to Friday.
The change will come into effect from July 7, 2023. The circular said, “[This] shall be effective from trade date July 7, 2023 Friday and accordingly, all existing contracts with Thursday expiry will be revised to Friday on July 6, 2023 EOD.”
With the new change, there will be a NSE F&O expiry date on every week day except Monday. Nifty Financial expiry falls on Tuesday, Nifty Midcap Select’s on Wednesday and Nifty 50 on Friday. From July, Bank Nifty will have its expiry on Friday.
The NSE circular to its members stated that the first Friday expiry will fall on Friday, July 14.
“Any new contract created for trading on / after EOD of July 06, 2023 shall be created as per the revised expiry days as mentioned in the aforesaid table,” it added.
The move is expected to hurt BSE weekly options whose expiry day was set on Friday to avoid a clash with NSE. BSE had launched Sensex and Bankex Futures and Options few weeks ago in a segment dominated by NSE.
The stock exchange’s newly launched options were attracting interest from investors with options turnover hitting a high of Rs 69,422 crore – Rs 69,287 crore. It remains to be seen how investors’ interest changes in BSE’s contracts after NSE’s latest move.