NSE changes Bank Nifty weekly expiry to Wednesday, Nifty Midcap expiry to Monday

Experts are offering contrasting commentary on the present market situation.

The National Stock Exchange (NSE) on July 12 announced a revision in the expiry days for futures and options contracts of Bank Nifty and Nifty Midcap Select. Starting from September 4, 2023, Bank Nifty's weekly F&O contracts will expire on Wednesdays instead of Thursdays.

The first Wednesday weekly expiry is scheduled for September 6, 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 circular.

However, there is no change in the expiry days for the monthly and quarterly contracts of Bank Nifty. These contracts will expire on last Thursday of every month/quarter.

"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 as well as monthly expiry day has now been shifted to Monday instead of Wednesday. The first Monday expiry will be on August 21, 2023.

Essentially, the new schedule for NSE's F&O contracts looks like this:  Monday - Nifty Midcap Select; Tuesday - Nifty Financial Services; Wednesday - Bank Nifty and Thursday - Nifty 50.

Meanwhile, BSE's relaunched Sensex and Bankex F&O contracts expire on Friday. So traders now have five expiries a week.

Earlier, NSE had changed Bank Nifty's expiry to Friday from Thursday. But, the plan was soon scrapped. "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.