The MD and CEO said BSE had gained market share when the expiry was on Friday, and the purpose of the contracts has to be to bring efficiency in the options market and not turn it into an expiry day product.
The communication from the capital market regulator has been conveyed to both the exchanges.
The NSE could submit its application for all weekly and monthly contracts as early as Tuesday, the person said, asking not to be identified as the deliberations are private. At present, BSE uses Tuesday, while NSE has traditionally settled contracts on Thursday.
The exchange said that the weekly contracts of Sensex will expire on Tuesday of every week from Friday
The curbs on derivatives trading will cause structural shifts and lead to loss of incomes for various stakeholders such as brokers, traders and even the government
Options volume has surged from ₹4.6 lakh crore in 2018 to ₹138 lakh crore in 2024 and retail participation has shot up, prompting the market regulator is consider trading curbs
This is the second major instance of a freak trade in the derivatives market in less than a month.
A joint statement says that BSE requested NSE to consider shifting of the Bank Nifty expiry to any day other than Friday, as it would otherwise potentially impact the growth of Sensex or Bankex derivatives
During the Kargil War, the market had not reacted so sharply due to various reasons, says Ashwani Gujral, ashwanigujral.com. There was a software boom across the globe and a market rally had just started in the country. The current market rally is 7 months old and the market had to get hit by this news.
Shares of Larsen and Toubro, ICICI Bank, Axis Bank, Bharti Airtel, Bajaj Auto, Cairn India, BPCL and HCL Technologies gained 0.8-0.9 percent. However, Hero Motocorp, Hindalco Industries, Sun Pharma, Infosys, ONGC and TCS fell 0.2-0.7 percent.
Today is the ultimate day of the August series which has seen benchmark indices break key resistance levels and push to new records. While volatility has risen, markets are refusing to pare gains as was seen in the last hour of trade on Wednesday.
The June series has been a good one and Vineet Bhatnagar, MD of MF Global feels that the disinterest present in the last expiry seems to have faded away. According to him FII open interest in Nifty is higher than the three month average.
Jai Bala, Chief Market Technician, cashthechaos.com, in an interview on CNBC-TV18 spoke about how he reads the market and the outlook ahead.