SEBI’s Expiry Shift Hits BSE: Shares Drop 6% After NSE Gets Tuesday Slot

Shares of BSE plunged 6.2% to an intraday low of ₹2,500 on the NSE on Wednesday, June 18, following SEBI’s approval for the National Stock Exchange (NSE) to shift its weekly equity derivatives expiry from Thursday to Tuesday, effective September 1, 2025.

To avoid overlapping expiry dates, SEBI has directed BSE to move its Sensex derivatives expiry from Tuesday to Thursday. The regulatory move, aimed at reducing market volatility and standardizing expiry schedules, was outlined in a circular following recommendations from SEBI’s Secondary Market Advisory Committee (SMAC).

As part of the transition, BSE will cease launching new weekly index futures contracts from July 1, 2025. Existing contracts will retain their expiry dates, except for long-dated index options, which will be realigned as per past practices. Contracts expiring on or before August 31, 2025, remain unaffected, while those issued afterward will follow the new structure.

Additionally, non-benchmark index options, index futures, and single-stock derivatives will now carry a minimum one-month tenor, expiring on either the last Tuesday or Thursday of the month, depending on the exchange’s schedule.

NSE had previously considered Monday expiries for key contracts like Nifty and Bank Nifty but dropped the plan after SEBI’s intervention. Under the new framework, each exchange can offer only one weekly benchmark index options contract on its chosen expiry day—streamlining the market and reducing confusion.

The shift has sparked concerns over BSE’s trading volumes and competitive edge, especially as NSE continues to dominate the derivatives space. On Tuesday, BSE shares had already dipped 1.4%, closing at ₹2,660 on the NSE.