National Stock Exchange (NSE) has implemented changes to the expiration day for Nifty Bank’s monthly and quarterly contract cycles. Under the revised terms, all current monthly contracts will now expire on the final Wednesday of the respective expiry month or quarter. This departure from the existing norm, where the last Thursday of the month or quarter was used as the expiry day, has been announced by NSE in a circular. The NSE further stated that if Wednesday falls on a trading holiday, the expiration day will be shifted to the preceding trading day.
According to the press release by NSE on December 28, 2023, NSE announced that there will be a change in the expiry day of the Bank Nifty Monthly and Quarterly Contract cycles from the existing Thursday to Wednesday. This change will take effect from the trade date of Friday, March 01, 2024. The first Wednesday monthly expiry will be on March 27, 2024.
| Expiry Day | Current Expiry Day | Revised Expiry Day |
| Monthly & Quarterly Contracts | Last Thursday of the Expiry month | All existing monthly contracts shall expire on the last Wednesday of the expiry month |
| If Wednesday is a trading holiday, then the expiry day is the previous trading day | ||
| Weekly Contracts | All Existing weekly contracts shall expire on Wednesday of every week | No change in expiry day |
| If Wednesday is a trading holiday, then the expiry day is the previous trading day |
Furthermore, there is no change in the expiry date of monthly contracts for January 2024 and February 2024. The expiry day of all existing contracts available for trading on March 01, 2024, will be preponed from the end of the day on February 29, 2024. The new far monthly expiry cycle of May 2024 will be introduced with an expiry day of May 29, 2024 (the last Wednesday of the expiry month).
The contract expiries that will be available in BANKNIFTY contracts on the trading date of March 1, 2024, are listed below:
| Contract | Current Expiry & Maturity Date | Revised Expiry & Maturity Date | Remark |
| Weekly 1 | 06-Mar-24 | – | No Change |
| Weekly 2 | 13-Mar-24 | – | No Change |
| Weekly 3 | 20-Mar-24 | – | No Change |
| Monthly – Near Month | 28-Mar-24 | 27-Mar-24 | Revision |
| Weekly 4 | 03-Apr-24 | – | No Change |
| Monthly – Middle Month | 25-Apr-24 | 24-Apr-24 | Revision |
| Monthly – Far Month | 30-May-24 | 29-May-24 | Revision |
| Quarterly 1 | 27-Jun-24 | 26-Jun-24 | Revision |
| Quarterly 2 | 26-Sep-24 | 25-Sep-24 | Revision |
| Quarterly 3 | 26-Dec-24 | 24-Dec-24 | Revision |
By the end of February 29, 2024, the expiry date and maturity date for all existing contracts will be adjusted to Wednesday. Any newly created contract intended for trading on or after the conclusion of February 29, 2024, will be established under the revised expiry days outlined in the table.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 29, 2023, 1:14 PM IST
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
