“If you flip it around and say that NSE’s expiry is now set to be on Tuesday, confirmed officially, it’s a huge positive for NSE,” said Sriram Krishnan, Chief Business Officer, NSE. “I think that’s what the market ecosystem wanted, and we had received feedback supporting this in the past.”
“We never changed our expiry day, although we had the chance to do so when the other exchange moved from Friday to Tuesday,” he added. “We did not announce a change at that point. Initially, we considered Monday. However, given the consultation paper and the developments that followed, we opted for Tuesday, which was a fair suggestion and has now been approved.”
Global brokerage firm Goldman Sachs wrote in its note that the upcoming SEBI decision on expiry day of derivatives contract could be a key binary event with limited upside and notable downside for BSE.“In our view, if BSE was to maintain its Tuesday expiry, market share would remain at around current levels. But a move to Thursday, could see it lose nearly 3 percentage points of market share, leading to 13% in index options ADP loss, thereby posing a 8% Earnings Per Share (EPS) downside risk,” the brokerage added.
Goldman Sachs had retained its ‘Neutral’ stance on BSE, with a price target of ₹2,490 per share.
Citing the management of BSE, Jefferies in a note said that the transition of expiry days may not have a material impact on volumes.
Newer derivatives instruments and growth in data services will aid BSE’s profits, Jefferies said, adding that it expects BSE’s net profit to grow at a Compounded Annual Growth Rate (CAGR) of 30% over FY25-28.
The development follows a consultation process initiated in March this year, which aimed to streamline expiry schedules and reduce market volatility.
CNBC-TV18 had previously reported on May 22 that SEBI had proposed that all equity derivatives contracts be limited to expiries on either Tuesdays or Thursdays. This proposal was in response to concerns over excessive speculative trading on multiple expiry days throughout the week.
First Published:Â Jun 17, 2025 4:08 PM IST
