BSE Shares Tumble 5.6% after Reports Indicate that SEBI May Grant Tuesday Expiry to NSE

The Securities and Exchange Board of India is expected to grant Tuesday as the day for expiry for equity futures and options for the National Stock Exchange, CNBC-TV18 reported on Thursday. BSE shares nosedived as much as 5.6% to its intraday low on the NSE following reports on this development.

If the Indian capital market regulator grants the NSE Tuesday for expiry, it would come as a disadvantage for the BSE, which currently has Tuesday as the day for expiry. The NSE has applied for Tuesday as weekly expiry. Reports suggest that if NSE gets Tuesday as its expiry day then there could be a 20% decline in Sensex options volumes, as a large part of it could move to the NSE. And this could increase the latter’s market share in index options by nearly 5%.

“NSE holds a 75% share in derivatives, which is India’s most active segment by volume. BSE holds just 25%,” according to Equitymaster. The market watchdog is expected to release a circular on index expiry days for the exchanges soon, according to media reports. SEBI's Secondary Market Advisory Committee recently met to discuss the rules on the expiry days for exchanges.

In March, the SEBI released a consultation paper recommending that Tuesday and Thursday be used as expiry days by the stock exchanges to avoid overlap and bring clarity. The NSE had also changed the expiry days for Nifty, Bank Nifty, FinNifty, Nifty Midcap Select, and Nifty Next50 monthly and quarterly derivatives contracts from Thursday to Monday, with effect from April 4.

According to an ICRA report, the average daily premium turnover fell 18% between December 2024 and March 2025, as compared to the April–November 2024 period. The number of traded options contracts fell 60% during the said period.

In a separate development, NSE on Wednesday announced that five listed stocks will be excluded from the futures and options segment, with effect from August 1. The stocks that will be excluded are—Aarti Industries, Birlasoft, Hindustan Copper, Mahanagar Gas, and Piramal Enterprises. This action comes as part of the implementation of stricter eligibility norms introduced by the market regulator.