Shares of BSE Ltd slumped 9 per cent on Wednesday after the National Stock Exchange announced changes to the F&O contracts expiry.
The latter on Tuesday decided to shift the expiry of all contracts to Monday from Thursday in its equity derivatives segment from April 4. “Nifty weekly contracts, Nifty monthly, quarterly and half-yearly contracts, Bank Nifty monthly and quarterly contracts and Fin Nifty, MidCap Nifty and Nifty Next 50 monthly contracts would be expired on Monday. All single stock futures will also expire on Monday, the circular stated.
BSE’s weekly contracts currently has its expiry on Tuesday.
Shares of BSE traded 6.30 per cent lower on the NSE at ₹4,173.05 as at 10.18 am. The stock on Wednesday hit a low of ₹4,035.10. The market capitalisation stood at ₹57,046.92 crore, per NSE data.
The stock has been in negative territory for seven of eight latest trading sessions amid mounting market volatility and legal concerns.
Global brokerage Goldman Sachs recently slashed the target price on BSE to ₹4,880 from ₹5,650 earlier, maintaining neutral rating. The brokerage had also cut BSE’s earnings per share (EPS) estimates for FY25 to FY28 by up to 14 per cent, emphasising volume declines outweighing potential gains in options market share.
In addition, BSE has been under pressure due to legal scrutiny after an FIR was directed against former SEBI chairperson, two BSE officials and others. The Bombay High Court on Tuesday stayed for four weeks a special court’s order directing FIR against former SEBI chairperson Madhabi Puri Buch and five other officials for alleged stock market fraud and regulatory violations.
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