NSE withdraws the plan to move Nifty Bank derivative contracts to Friday.

NSE Stock Exchange

The National Stock Exchange (NSE) had earlier taken its decision to change the expiry date of Bank Nifty derivative contracts from Thursday to Friday but has since rolled back the decision. This step was withdrawn when it was requested by BSE that it would be necessary to withdraw the decision taken keeping in mind the needs of all the customers, So The move follows a “request” from the BSE, which settles its Sensex and Bankex derivative contracts on Friday.

BSE shares closed on a soft note after NSE’s June 6 circular informing the change in settlement day. Keeping these things in mind, it was considered better to withdraw this decision because after the benchmark Nifty 50 index, if any index is more traded then it is only Bank Nifty, hence it is considered as the second most traded derivative index.

The proposed change in settlement of Bank Nifty was due on 6th July and the first weekly expiry would have been on 14th July but due to withdrawal of its decision, now the next expiry will be on 13th July.

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