Overview

• Media reports say the regulator will soon issue a paper to phase out weekly expiries in favor of longer tenures, with a same day expiry across BSE and NSE under consideration.
• SEBI’s board was slated for a Sept. 12 briefing on longer derivative tenures, with stakeholder consultations expected next; no formal decision has been announced.
• BSE fell about 4%, Angel One dropped roughly 5%, and Nuvama declined around 3%, while CDSL and NSDL slipped about 1% following the reports.
• Weekly index options dominate volumes, accounting for roughly 86.8% of notional value on NSE and more than 99% on BSE, highlighting reliance on short dated contracts.
• Jefferies cautioned that moving to fortnightly or monthly cycles or aligning expiries could cut BSE’s EPS by 20–50% and Nuvama’s by 15–25% by FY27, based on scenario analysis.