Bank Nifty F&O Expiry Day: Bank Nifty Futures and Options (F&O) expiry day has been changed from Thursday to Friday, said NSE. The changes will be effective from the trade date of Friday, July 7, 2023; accordingly, all existing contracts with Thursday expiry will be revised to Friday by the end of day on July 6, 2023. The first Friday expiry will be on July 14, 2023. If Friday is a trading holiday then the expiry date will be the previous trading day, NSE added. Last Month, BSE also changed the expiration day of Sensex and Bankex monthly, weekly and long-dated futures and options contracts to Fridays from Thursdays.
Bank Nifty existing weekly contracts will expire on Friday of every week and monthly contracts will expire on the last Friday of the respective contract month. Any new contract created for trading on/after the end of the day on July 06, 2023, shall be created as per the revised expiry days. The settlement schedule will be intimated separately by Clearing Corporations.NSE further advise traders to take the updated contract.gz file available on the extranet path faoftp/faocommon before trading on July 07, 2023.
Meanwhile, after the announcement, Bank Nifty dipped 48 points or 0.11% to 44,053.40 and NSE Nifty 50 fell 39.50 points or 0.21% to 18,554.35. The top losers on Bank Nifty were AU Bank, Federal Bank, PNB, IDFC First Bank and Bank of Baroda while the gainers were Kotak Bank, Axis Bank and IndusInd Bank.