The last Friday of every week will mark the expiration of Bank Nifty’s existing weekly contracts, and the final Friday of each contract month will mark the end of the contract period. Any new contract made available for trade on or after the close of business on July 6, 2023, must be made using the updated expiration dates. Separate notifications of the settlement timetable will be made by clearing corporations. Before trading on July 7, 2023, NSE further advises traders to download the amended contract.gz file from the extranet address faoftp/faocommon.

The expiration day for Bank Nifty Futures and Options (F&O) has been rescheduled from Thursday to Friday, according to NSE. The new regulation will take effect on July 14th. The above shall be effective from the trade date of July 7, 2023, Friday, and accordingly, all existing contracts with Thursday expiry will be revised to Friday, July 6, 2023, EOD. It is started by the largest derivatives exchange in India, NSE,  in a circular released on Tuesday. On July 14, 2023, the first Friday expiration will occur.

The expiry day, however, is the trading day prior if Friday is a trading holiday. With this modification, commencing the week of July 9, NSE will have an F&O expiration on every day of the week except Monday. The Nifty Financial expiration is on Tuesday, followed by Nifty Midcap Select, Nifty 50, and now Bank Nifty on Friday.

Weekly contracts for Nifty Bank now expire on Thursdays, whereas monthly and quarterly contracts do so on the final Thursday of the expiring month. With this modification, commencing the week of July 9, NSE will have an F&O expiry on all days of the week save Monday. On Tuesday, the Nifty Financial expiration, on Wednesday, the Nifty Midcap Select, on Thursday, and now on Friday, the Bank Nifty.

According to experts, The NSE’s decision to move the Bank Nifty expiration to Friday may be seen from two angles, First off, traders have begun to choose BSE F&O contracts, which already expire on Friday, since they have cheaper fees than NSE. The NSE proposed altering the expiry day as a means of fending off this competition. Second, this choice may have been inspired by NSE’s prior successful trial with FIN Nifty’s revised expiration day. The importance of transaction charges should not be underestimated, especially in light of the popularity of BSE Sensex F&O contracts, as expiry may not be the only factor affecting desirability.