BSE, Angel One shares rise up to 2.5% ahead of SEBI board meeting

BSE, Angel One shares rise up to 2.5% ahead of SEBI board meeting

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Capital market stocks rose up to 2.5% on September 12 ahead of a key SEBI board meeting scheduled for later in the day.

At 10:21 am on September 12, BSE shares were trading 2.35% higher at Rs 2,213 apiece, a day after falling 5% as a CNBC-TV18 report said that the market regulator is looking to float a consultation paper next month to end the weekly F&O expiries.

On September 12, Nifty Capital Markets index was trading 1% higher at 4,311 with Nuvama and BSE leading.

Global brokerage firm Jefferies flagged the speculation around extending expiry to fortnightly/monthly, with or without same-day expiry and that speculation around expiry hasn't been confirmed by SEBI or exchanges.

However, Jefferies said scenario run for BSE and Nuvama. Potential impact could drive 20–50% cuts to FY27 EPS for BSE and 15–25% for Nuvama, said Jefferies.

On September 12, Nuvama shares were trading 2.7% higher at Rs 6,337 apiece.

Jefferies said shift to fortnightly expiry and separate settlement seems priced in, adding that the September 12 SEBI board meeting will be watched keenly.

In case the expiries are shifted to fortnightly and kept at separate days for both NSE and BSE, Jefferies believes that the industry index options notional Average Daily Turnover (ADTO) could fall by 55% and the Premium Average Daily Turnover could fall by 45%.

Although Jefferies expects BSE's market share to remain stable at 29% in August, its options revenue in financial year 2027 to fall by 38%, leading to a 22% fall in consolidated revenue and a 21% fall in net profit.

The market regulator is planning transition to monthly expiries with defined glide path and may consider same-day expiry across exchanges, the channel reported citing sources, reported CNBC-TV18.

SEBI Board is likely to be briefed on longer derivative tenures on September 12 with consultations with exchanges starting next week, added CNBC-TV18.

SEBI may clear major proposals related to ease of doing business in its board meeting scheduled on September 12. According to sources, the key proposals may include easing stake dilution for mega initial public offerings (IPOs), expanding rating agency activities, revamping RTA and broker rules, granting equity status to REITs, InvITs, introducing accredited investor AIF schemes and strengthening exchange governance as well as easing norms for investment advisors and research analysts.