BANKEX contracts, introduced by the Bombay Stock Exchange (BSE) in May 2023, are futures and options contracts based on the S&P BSE Bankex index. The introduction of BANKEX contracts was a significant development in the Indian derivatives market, as it provided traders with a new tool to hedge their exposure to the banking sector. The contracts have been well-received by market participants, and trading volumes have been increasing steadily since their launch.
On the expiry day, December 4, 2023, BANKEX achieved a remarkable milestone by reaching an all-time high in contract trades. The market buzzed with activity as over 3 crore contracts were executed, marking an extraordinary level of engagement. What’s even more impressive is the staggering notional turnover, surging past Rs 29.7 lakh crore on the expiry day of the BANKEX index.
The 12 stocks that make up the S&P BSE BANKEX index are all highly liquid, and this means that there is a large amount of trading interest in BANKEX contracts. This liquidity makes it easy for traders to enter and exit positions, and it also helps to reduce transaction costs.
On December 4th, the financial market recorded a total of 3.90 crore contracts, with a corresponding total turnover of Rs 30.40 crore. Among these contracts, the futures turnover amounted to Rs 56.22 crore, while options trading contributed significantly with a notional turnover of Rs 30.39 crore and a premium turnover of Rs 2.11 crore.
In November 2023, the financial market witnessed a substantial volume of trading activity, with a total of Rs 1,124.39 million contracts traded, resulting in a significant total turnover of Rs 73,904.62 crores. The futures market contributed Rs 1,044.71 crore to this turnover, while the options segment played a predominant role with a notional turnover of Rs 73,903.58 crores and a premium turnover of Rs 37,910.12 crores.
Market Summary (as of December 5, 2023, 02:24 pm):
| Type of Instrument | Contracts Traded | No. of Trades | Turnover (Rs Cr) | Notional Turnover (Rs Cr) | Mkt OI (No. Of Contracts) |
| Index Future | 134 | 93 | 9.45 | – | 127 |
| Index Option (Call) | 4,37,405 | 1,87,178 | – | 31,078.12 | 43,476 |
| Index Option (Put) | 4,13,963 | 1,72,368 | – | 28,567.33 | 65,941 |
| Equity Future | – | – | – | – | 36,97,613 |
| Equity Option (Call) | – | – | – | – | 10,82,089 |
| Equity Option (Put) | – | – | – | – | 8,52,474 |
| Total | 8,51,502 | 3,59,639 | 9.45 | 59,645.45 | 57,41,720 |
| Type of Instrument | Contracts Traded | No. of Trades | Turnover (Rs Cr) | Notional Turnover (Rs Cr) | Mkt OI (No. Of Contracts) |
| Sensex Futures | 118 | 84 | 8.17 | – | 122 |
| Sensex Options | 7,80,633 | 3,24,605 | – | 53,973.93 | 1,01,552 |
| Bankex Futures | 16 | 9 | 1.28 | – | 5 |
| Bankex Options | 70,735 | 34,941 | – | 5,671.52 | 7,865 |
| Foreign Indices Futures | – | – | – | – | |
| Total | 8,51,502 | 3,59,639 | 9.45 | 59,645.45 | 1,09,544 |
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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