The markets are seeing a steady run but BSE, Asia’s oldest stock exchange, saw a sharp selloff in trade today. The stocks has plunged over 9% intra-day. The steep decline came after an announcement by the National Stock Exchange, regarding a major shift in the expiry schedule of all Futures and Options (F&O) contracts. The expiry date has now been shiofted to the last Monday instead of last Thursday of the month.
NSE: F&O expiry day shift
In a circular on March 4, the NSE announced that starting April 4, 2025, all Nifty index weekly F&O contracts will expire on Mondays instead of Thursdays. Additionally, monthly F&O contracts will now expire on the last Monday of the expiry month instead of the last Thursday. This move impacts key indices such as Nifty, Bank Nifty, FinNifty, Nifty Next50, and Nifty Midcap Select.
“Revised expiry date of all existing derivatives contracts shall be available in the contract file which shall be generated on April 03, 2025 end of the day which shall be applicable for trading on April 04,2025,” said in the NSE circular.
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Furthermore, it is also interesting to note that this decision comes just days after Tuhin Kanta Pandey took charge as the new SEBI Chairman
Goldman Sachs lowers target for BSE, cites regulatory risks
Furthermore, another reason for the BSE shares under pressure is after Goldman Sachs slashed its target price on the stock earlier this month. The brokerage firm cut its price estimate to Rs 4,880 from Rs 5,650, maintaining a “neutral” rating.
Goldman Sachs has also lowered its earnings per share projections for BSE. The firm reduced its FY25 estimate by 1%, while cutting FY26, FY27, and FY28 estimates by 14%, 12%, and 11% respectively. As per the brokerage, industry-wide volume reductions may offset the gains from BSE’s increasing market share in options trading.
BSE share price under pressure in 2025
BSE shares tumbled to an intraday low of Rs 4,035.10 on the NSE, reacting to the sudden market shift. The share price of BSE has lost nearly 22% in the last five sessions and is down 28% over the past month. Despite the recent dip, it has gained 46% in six months and 85% over the past year.
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