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<ul><li>The proposed Friday expiry of Bank Nifty coincided with the expiry of the Sensex/ <keyword id="17830938" type="General" weightage="20" keywordseo="bankex-fo" source="Orion">Bankex F&amp;O</keyword> contracts</li><li>By scheduling the above mentioned expiry on Friday, NSE was set to have an <keyword id="462223" type="General" weightage="20" keywordseo="fo-expiry" source="Orion">F&amp;O expiry</keyword> four days a week</li><li>The first Friday expiry was scheduled on July 14.</li></ul> The National Stock Exchange has withdrawn its plan of shifting the Nifty Bank derivative contracts expiry from Thursday. Earlier on June 6, the NSE had moved the expiry day for Nifty Bank Future &amp; Options (F&amp;O) contracts to Friday from Thursday effective July 7. The reason for the change in stance is that the proposed Friday expiry of Bank Nifty coincided with the expiry of the Sensex/ Bankex F&amp;O contracts that were relaunched by BSE in mid-May. “Considering the need for balanced market development and avoidance of concentration risk in the market, BSE has requested NSE to consider shifting of the <keyword id="15021649" type="General" weightage="80" keywordseo="bank-nifty-expiry" source="Orion">Bank Nifty expiry</keyword> to any day other than Friday. This will help in growing this complementing Sensex/Bankex derivatives and thus de-risk the market,” reads the joint statement from both the exchanges. In accordance with the request, the NSE has withdrawn its earlier plan. The first Friday expiry was to be on July 14. By scheduling the above mentioned expiry on Friday, NSE was set to have an F&amp;O expiry four days a week. It's noteworthy that the Nifty Financial expiry is on Tuesday, Nifty Midcap Select on Wednesday, Nifty 50 on Thursday. The Nifty Financial expiry was earlier on Thursday but it was then shifted to Tuesday. Market analysts say that this shift helped ensure that traders could concentrate on individual expiries better and worked favourably for the exchange with trading volumes going up significantly in Nifty Financial.

Bank Nifty expiry will stay scheduled on Thursday after NSE scraps earlier plan

Banking futures showed an uptrend as traders bought into beaten down valuations primarily in the public sector banking space. The <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> was up 0.7 percent at 18,638 points by mid-afternoon trade. 
 All 22 bank futures showed positive gains between 0.1 percent and 4 percent. Their Open Interest position, which denotes <keyword id="6360903" type="POSITION" weightage="100" keywordseo="Trader">trader</keyword> interest in the stocks, rose between 0.5 percent and 9.7 percent for individual futures. Only three banking futures -- <keyword id="6358006" type="CITY" weightage="100" keywordseo="Andhra-Bank">Andhra Bank</keyword>, Oriental Bank of Commerce and <keyword id="49007" type="CITY" weightage="100" keywordseo="Uco-Bank">UCO Bank</keyword> -- showed a fall in Open Interest, which was minimal. 
 Mid-sized <keyword id="66845" type="COMPANY" weightage="100" keywordseo="Karnataka-Bank">Karnataka Bank</keyword> was the top gainer with a 4 percent jump in the futures and options segment. It was the only banking future where volumes rose 21 percent over the previous day. 
 Deliveries are also rising substantially in the PSU bank segment: <keyword id="47268" type="ORGANIZATION" weightage="100" keywordseo="PNB">PNB</keyword>, Bank of India, Andhra Bank and <keyword id="6358005" type="CITY" weightage="100" keywordseo="Allahabad-Bank">Allahabad Bank</keyword> showed a sharp spurt in delivery volumes. 
 
 
(Image credits: Indiatimes)

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Bank Nifty expiry will stay scheduled on Thursday after NSE scraps earlier plan

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