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Market regulator SEBI has made changes in the equity index derivatives market, due to which the Bombay Stock Exchange (BSE) has discontinued weekly index derivatives on Sensex 50 from November 14 and on Bankex from November 18. BSE has informed that there will be no weekly expiry on SENSEX from November 14 and there will be no weekly expiry on Bankex from November 18. Under the new rules, each exchange will be allowed to offer derivative contracts for only one benchmark index with weekly expiry, while BSE will retain Sensex as its primary tradable index.
Earlier, the SEBI board on Tuesday asked the exchanges to reduce the number of weekly option contracts available to investors to only one from November 20. So far, BSE is running two weekly derivative contracts Sensex and Bankex. Sensex was chosen instead of Bankex because Bankex has more volume.
Index options turnover Rs 2,603 lakh crore The estimated turnover of index options of BSE in August was Rs 2,603 lakh crore. According to exchange data, Sensex contributed 85 per cent of the volume in the financial year ended March 2024. In the next few days, NSE is also expected to announce whether it will retain Nifty or Nifty Bank for the weekly derivative market.
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