The National Stock Exchange (NSE) announced a revision in the expiry days of futures and options on Bank Nifty and Nifty Midcap Select. Effective from the week starting on 4 September 2023, the Bank Nifty’s weekly F&O contracts expiry day will change to Wednesday from Thursday at present.
The first Wednesday weekly expiry is scheduled for 6 September 2023.
"All weekly contracts shall expire on Wednesday of every week excluding the expiry week of the monthly contract. If Wednesday is a trading holiday, then the expiry day is the previous trading day," NSE said in a statement.
According to the NSE circular, for monthly and quarterly contracts of the widely-tracked BANK NIFTY there is no change and they will continue to expire on the last Thursday of the expiry month/quarter.
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"There is no change in trading cycle, i.e Nifty Bank will continue to have 4 weekly expiration contracts (excluding monthly contracts), 3 monthly expiration contracts and 3 quarterly expiries (March, June, Sept & Dec cycle)," NSE said.
For Nifty Midcap Select F&O contracts, the weekly and monthly expiry day have now been shifted to Monday instead of Wednesday.
In the last few weeks, this is the second time that the bourse has announced a change in the expiry date of Nifty Bank derivative contracts. Previously, the NSE has plans to change the dates to Friday, but as it would have clashed with the BSE’s Sensex and Bankex derivatives contracts, the plan was cancelled. "BSE, based on market feedback feels that this can potentially impact the growth of Sensex and Bankex derivatives," said the joint statement by BSE and NSE.
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In case of a public holiday on Friday, the expiry date will be the previous trading day.
For Nifty Midcap Select F&O contracts, the weekly and monthly expiry day has now been changed to Monday from Wednesday. The first Monday expiry will be on 21 August 2023.
Here’s The New Schedule For NSE’s F&O Contracts:
Monday: Nifty Midcap Select
Tuesday: Nifty Financial Services
Wednesday: Bank Nifty
Thursday: Nifty 50
However, the Bombay Stock Exchange’s (BSE’s) Sensex and Bankex F&O contracts expire on Friday. Now, traders have five expiry’s every week.
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