As on July 7, 2023, the National Stock Exchange will no longer offer its Bank Nifty Options contract to expire on a Thursday. Starting from the week of July 9, NSE will have a F&O expiry on Friday.
As at the close of business on Thursday, July 6, 2023, all outstanding contracts having a Thursday expiration will be amended to a Friday expiration. According to the NSE advisory to members, the first Friday expiration would occur on July 14, 2023.
The Fin Nifty Index options contract expires on tuesday, followed by the Nifty Midcap Select index on Wednesday, the Nifty 50 index on Thursday, and the Bank Nifty index on Friday.
Fin Nifty’s expiration date was shifted from Thursday to Tuesday, presumably so that traders’ attention wouldn’t be divided among three contracts on the same day. NSE’s Nifty Financial trading volumes increased significantly after the switch.
NSE’s latest move may hurt BSE’s newly introduced weekly Sensex and Bankex options contracts with a Friday expiry. In fact, it is said that BSE picked Friday to make sure it wouldn’t conflict with NSE’s F&O contracts’ expiration date.