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Business Standard
6 days ago
- Business
- Business Standard
Flip in derivatives expiry days: NSE to shift to Tuesday, BSE gets Thursday
In a move that could have implications for market share dynamics, the Securities and Exchange Board of India (Sebi) has permitted the National Stock Exchange (NSE) and the BSE to alter the days for settlement of equity derivatives contracts. Derivatives contracts on the NSE will now expire on Tuesdays, moving from the current Thursday expiry. Conversely, BSE contracts will expire on Thursdays, shifting from the current Tuesday expiry. In May, the market regulator issued a circular restricting expiries to just two days a week and asked each exchange to select one. The current expiry days will remain in effect until August 31. Starting in September, both exchanges will transition to their newly designated days. The expiry day for already introduced contracts will remain unchanged, except for long-dated index options contracts, which will be realigned. Moreover, Sebi has directed the exchanges not to introduce any new weekly contracts on index futures from July 1. Prior to Sebi's decision to limit expiry days, exchanges had the flexibility to change their final settlement days for derivatives contracts, leading to frequent shifts over the past year. When limiting expiries, Sebi said that the goal was to curb hyperactivity on expiry days and reduce concentration risk in the market. The regulator had previously noted that spacing out expiry days throughout the week could provide stock exchanges with opportunities for product differentiation. NSE had initially planned to shift expiries to Mondays but had to abandon the plan after Sebi's consultation paper on expiry days, which was later approved in the regulator's March board meeting. 'NSE contracts are more liquid and are preferred by market participants. If NSE has expiries on Tuesdays, the premium just ahead of the expiry day will be lower compared to the beginning of the cycle. This will make it cheaper for participants to trade NSE contracts in the days leading up to expiry. NSE may see much more activity than what we see now,' said Sriram Krishnan, chief business development officer at NSE. Analysts believe BSE could cede some market share due to the shift in expiry days. 'Since NSE requested Tuesdays, in the overall interest of the market, we have taken Thursdays. Market share and volumes are influenced by multiple factors. At this point, it is not possible to base our analysis solely on one factor. Traditionally, Thursday has been the day of expiries for the Indian market for a very long time,' said Sundararaman Ramamurthy, managing director and chief executive officer of BSE. Shares of BSE have come off more than 10 per cent from their record highs hit last week amid concerns over market share loss. Some analysts believe this is a short-term reaction and maintain a positive outlook on the company. They believe that since trading patterns are traditionally set for Thursdays, the loss of market share may not be severe. 'With BSE moving its expiry to Thursday (currently Tuesday), it is expected to lose ₹1,500–1,800 crore in average daily premium turnover (ADPTV). This amounts to an approximate annualised pre-tax profit impact of ₹160 crore (7.8 per cent of 2026–27 estimated/FY27E adjusted profit after tax). Our 2025–26E (FY26E)/FY27E ADPTV estimates of ₹13,400 crore/₹15,300 crore are below the current market trend of FY26 to date ADPTV of ₹15,500 crore. Hence, even if we factor in the impact, our estimates will not change significantly,' said analyst Madhukar Ladha of Nuvama Research. Ladha expects BSE to lose 200–300 basis points (bps) in index option market share. Analysts also noted that BSE's market share declined 500 bps week-on-week in the second week of June. BSE's premium average daily turnover was around ₹10,500 crore in the second week, down 39 per cent week-on-week and 33 per cent lower than the average of April and May. The decline was attributed to lower volatility during the week. While in the first quarter of FY26, the average daily premium turnover rose 30 per cent quarter-on-quarter, for June, it has averaged around ₹13,800 crore.
India Gazette
05-06-2025
- Business
- India Gazette
National Stock Exchange of India surpasses 22 crore investor accounts
New Delhi [India], June 5 (ANI): The National Stock Exchange of India (NSE) has achieved a total number of investor accounts, or Unique Client Codes (UCCs), exceeding 22 crore (220 million) in April 2025. This marks a rapid increase, coming just six months after crossing the 20-crore mark in October 2024. The number of unique registered investors separately reached 11.3 crore as of March 31, 2025, having surpassed 11 crore on January 20, 2025. It's important to note that an investor may hold multiple accounts with different brokers, leading to multiple client codes. State wise, Maharashtra leads the nation with the highest number of investor accounts at 3.8 crore, followed by Uttar Pradesh (2.4 crore), Gujarat (1.9 crore), and both Rajasthan and West Bengal with approximately 1.3 crore each. These top five states collectively account for nearly 49% of the total accounts, with the top ten states contributing roughly three-fourths of the overall count. 'India's investor base continues to expand rapidly, with over 2 crore new accounts added in just six months--a clear reflection of strong investor confidence in India's growth trajectory despite global economic headwinds,' said Sriram Krishnan, Chief Business Development Officer, NSE. Adding, 'this surge has been driven by accelerated digital transformation and the increasing adoption of mobile trading, which have made capital markets more accessible to investors across tier 2, 3, and 4 cities. The growth also highlights the success of focused initiatives to deepen retail participation, including widespread financial literacy programs and streamlined KYC processes.' The benchmark Nifty 50 Index has delivered a 22% annualized return over the past five years, while the Nifty 500 Index has seen a 25% annualized return, demonstrating significant wealth creation for investors. Additionally, NSE's Investor Protection Fund (IPF) saw a substantial increase of over 23% year-on-year, reaching Rs 2,459 crore as of March 31, 2025. (ANI)
The Hindu
29-05-2025
- Business
- The Hindu
NSE, WE Hub ink MoU to benefit women entrepreneurs
The National Stock Exchange (NSE) and the WE HUB Foundation, have decided to collaborate on multiple areas related to empowerment of women and women-led enterprises. Promoting financial literacy through investor awareness programmes; spread awareness among women-led micro, small and medium enterprises (MSMEs) of fund raising through initial public offer (IPO) utilising the NSE Emerge Platform; and to implement student skilling programme in the BFSI Sector across Telangana are some the key components of an MoU signed by them here recently. This MoU was exchanged in the presence of Chief Minister A. Revanth Reddy and others by Chief Business Development Officer of NSE Sriram Krishnan and WE Hub Foundation CEO Sita Pallacholla, NSE said in a release on Wednesday. The MoU is a step toward advancing financial literacy, strengthening investor awareness and empowering both existing and aspiring investors.
Time of India
28-05-2025
- Business
- Time of India
NSE, WE HUB Foundation ink pact to promote financial literacy, awareness on taking women-led MSMEs public
Hyderabad: The National Stock Exchange of India ( ) on Wednesday said it has signed a memorandum of understanding with the Telangana-govt led WE HUB Foundation to promote financial literacy through investor awareness programmes and spread awareness among women-led micro, small and medium enterprises (MSME) for fund raising via the IPO mechanism using its NSE Emerge platform. Tired of too many ads? go ad free now The collaboration is also aimed at implementing the student skilling programme in the BFSI sector across Telangana to empower women and women-led enterprises. The MoU was exchanged between NSE's chief business development Sriram Krishnan and WE HUB Foundation CEO Sita Pallacholla in the presence of chief minister Revanth Reddy, industries & IT minister D Shridhar Babu, rural development and panchayati raj minister Danasari Anasuya Seethakka. As part of the agreement, NSE and WE HUB Foundation, which is a Section-8 non-profit company under the government of Telangana, will conduct awareness drive through seminars, camps, knowledge sessions, road shows, workshops to spread financial literacy and investor awareness.
Entrepreneur
28-05-2025
- Business
- Entrepreneur
NSE and WE HUB Ink MoU to Empower Women Entrepreneurs and Boost Financial Literacy in Telangana
This strategic collaboration will focus on enhancing financial awareness through investor awareness programs (IAPs), guiding women-led micro, small and medium enterprises (MSMEs) in accessing capital via NSE's EMERGE platform, and implementing a comprehensive Student Skilling Program in the BFSI (Banking, Financial Services, and Insurance) sector. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a landmark move aimed at strengthening financial literacy and fostering women-led entrepreneurship, the National Stock Exchange of India (NSE) and the WE HUB Foundation, a Government of Telangana initiative, signed a Memorandum of Understanding (MoU) to launch multiple impactful programs across the state. This strategic collaboration will focus on enhancing financial awareness through investor awareness programs (IAPs), guiding women-led micro, small and medium enterprises (MSMEs) in accessing capital via NSE's EMERGE platform, and implementing a comprehensive Student Skilling Program in the BFSI (Banking, Financial Services, and Insurance) sector. The MoU was exchanged in the presence of Telangana's Hon'ble Chief Minister Revanth Reddy, D Shridhar Babu, and Danasari Anasuya Seethakka, among other dignitaries. It was formally signed by Sriram Krishnan, Chief Business Development Officer, NSE, and Sita Pallacholla, CEO, WE HUB Foundation. Sanjay Kumar, IAS, Special Chief Secretary, ITE&C and I&C Departments, and Sita Pallacholla jointly commented: "We are pleased to collaborate with NSE on this initiative. Empowering women entrepreneurs and creating meaningful skilling opportunities are vital steps toward a resilient economy." The MoU outlines a roadmap that includes seminars, workshops, roadshows, and mentorship to help MSMEs scale through IPO fundraising. It also promotes financial education for students, enhancing their employability in Telangana's evolving economy. Shri Sriram Krishnan added, "This collaboration is a critical step in our mission to build a financially informed and inclusive ecosystem. With WE HUB's reach and our expertise, we aim to create real, scalable impact." NSE has already conducted over 14,600 IAPs and trained 7,500+ students under its skilling program. With 615 companies listed on NSE EMERGE having raised over INR 17,083 crore, this initiative promises to unlock new capital and growth avenues for Telangana's businesses and youth alike.
