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- By Vaamanaa Sethi
- Thu, 13 Jul 2023 11:01 AM (IST)
- Source:JND
The National Stock Exchange has again changed the expiry days for Nifty Bank and Nifty Midcap Select Index futures and options. Nifty Bank weekly index options will expire every Wednesday instead of Thursday, from September 4 onwards.
The first weekly Nifty Bank expiry day would be on September 6. "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 circular.
However, monthly and quarterly contracts of banking index will continue to expire on last Thursday of every month and there will be no change as per the circular by NSE.
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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.
This is the second time NSE has changed the expiry day of Nifty Bank derivative contracts. Earlier the exchange house had plans to shift it to Friday, however, the plan was scrapped as it would clash with BSE's Sensex and Bankex derivatives contracts.
The NSE has also shifted expiry days of Nifty Midcap Index both weekly and monthly contracts to Mondays. The first Nifty Midcap Index will be on August 12. If Monday is a trading holiday, then the expiry day is the previous trading day.
This also means that derivative traders will also have to deal with expiry days on every weekday. As per new rules, Mondays will begin with Nifty Midcap Select, on Tuesdays we already have FinNifty, Wednesdays will now have Nifty Bank while Thursdays are already reserved for India's most popular index - Nifty.
On the last trading day, Friday, BSE's relaunched Sensex and Bankex derivatives will expire.
