NSE to shift Nifty Bank F&O expiry to Friday from Thursday
The National Stock Exchange of India (NSE) on Tuesday announced that it would shift the futures and options (F&O) expiry of Nifty Bank to Friday from Thursday. The new rule comes into effect from July 14.
Currently, Nifty Bank weekly contracts expire every Thursday and on last Thursday of the expiry month in case of monthly and quarterly contracts.
"The above shall be effective from trade date of July 7, 2023, Friday and accordingly, all existing contracts with Thursday expiry will be revised to Friday on July 6, 2023, EOD. The first Friday expiry will be on July 14, 2023," NSE said in a circular.
From mid-July, NSE has revised the weekly expiry to Friday of every week. In case Friday is a trading holiday, then the expiry day is the previous trading day.
In the case of monthly contracts in the derivative segment of the widely-tracked banking index, the expiry will be held on the last Friday of the month.
Meanwhile, NSE's move comes after rival BSE also shifted the expiry day of its Sensex and BANKEX indices to Friday with effect from May 12.
Source: Media reports