BSE Shares Tank 6% After SEBI Clears Tuesday Expiry for NSE Derivatives

Shares of BSE fell as much as 6% on the National Stock Exchange on June 18, today, after the Securities and Exchange Board of India approved Tuesday for NSE's weekly expiry. Currently, they are held on Thursday.

BSE's weekly contracts, which currently expire on Tuesday, will now expire from Thursday, from September 1 this year. It had applied to the capital markets regulator to grant it a Thursday expiry, BSE said in a notice. Derivative contracts which is set to expire on or before August 31 will continue with the present expiry day, but those that are set to expire after September 1 will see change in their expiry day to Thursday and Tuesday for BSE and NSE, respectively.

The NSE's move to shift its derivatives expiry day from Thursday to Tuesday is seen as a strategic step to recapture market share from competitor BSE. The change comes amid regulatory pressure urging exchanges to rein in speculative trading activity.

Motilal Oswal has downgraded BSE to ‘neutral’ and has cut its target price to ₹2,300 from ₹2,533 earlier. "Overlaying the current trends on the day-wise share in volumes for the week, we expect a market share loss of 350-400 basis points for BSE," the brokerage said. Motilal Oswal has also reduced its premium average daily turnover estimates for FY26 and FY27 to ₹13,700 crore and ₹15,700 crore from ₹15,500 crore and ₹19,000 crore, respectively.

In May, the company said it would issue two equity shares for every share held in it, and thus the ratio for the bonus issue was 2:1. BSE had 135.38mn outstanding shares as of March 31, 2025. It had said it would issue 274.65mn bonus shares amounting to Rs 549.31mn. The bonus shares were issued from and out of capital redemption reserves and general reserves.

The company had reported a near five times on-year increase in the consolidated net profit for the March quarter, while its revenue for the said period rose 75% on year.