04-Oct-2025
2 mins read
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NSE has recently issued important changes to the lot sizes of multiple index derivatives. The exchange published a circular on October 3 2025, regarding revisions to trading in derivatives on Nifty 50, Bank Nifty, Nifty Financial Services, and Nifty Mid Select. The initiative is within SEBI's periodic review to provide appropriate contract specifications.
Which Indices Are Affected?
NSE has changed the lot sizes of 4 major index derivatives. The changes are as follows:
|
Sr. No |
Underlying Index |
Symbol |
Present Market Lot |
Revised Market Lot |
|
1 |
Nifty 50 |
NIFTY |
75 |
65 |
|
2 |
Nifty Bank |
BANKNIFTY |
35 |
30 |
|
3 |
Nifty Financial Services |
FINNIFTY |
65 |
60 |
|
4 |
Nifty Mid Select |
MIDCPNIFTY |
140 |
120 |
The Nifty Next 50 (NIFTYNXT50) will maintain its current market lot of 25 units.
Why Are These Changes Being Made?
These revisions follow SEBI guidelines specified in circular SEBI/HO/MRD-PoD2/CIR/P/2024/00181 dated December 30, 2024. The regulatory framework mandates periodic reviews of lot sizes to ensure that contract values remain within reasonable limits. The NSE calculated these new lot sizes based on the average closing price of the underlying indices during September 2025.
When Will These Changes Take Effect?
The circular will come into effect from October 28, 2025 (end of day). However, the implementation varies across different contract types to ensure a smooth transition for all market participants.
For weekly and monthly contracts, the existing lot sizes will remain applicable until the December 30, 2025 expiry date. For quarterly and half-yearly contracts, the lot sizes will be revised on December 30, 2025 (end of day).
Detailed Implementation Schedule
In its circular NSE provided a detailed annexure of the specific expiry dates for different contract types:
For NIFTY, BANKNIFTY, FINNIFTY, and MIDCPNIFTY:
|
Index Derivatives |
Expiration Cycle |
Last expiry with existing lot size |
First expiry with revised lot size |
|
NIFTY |
Weekly |
23-Dec-2025 |
06-Jan-2026 |
|
NIFTY |
Monthly |
30-Dec-2025 |
27-Jan-2026 |
|
BANKNIFTY, FINNIFTY, MIDCPNIFTY |
Monthly |
30-Dec-2025 |
27-Jan-2026 |
For Quarterly and Half-Yearly Contracts:
|
Index Derivatives |
Expiration Cycle |
Expiry Date |
Particulars |
|
NIFTY |
Quarterly & Half Yearly |
31-Mar-2026* |
Lot size of all existing quarterly and half yearly expiry contracts will be revised from December 30, 2025 (EOD) |
|
BANKNIFTY |
Quarterly |
31-Mar-2026* |
Lot size of all existing quarterly expiry contracts will be revised from December 30, 2025 (EOD) |
*Please note, the March 2026 contract, which was introduced as a quarterly contract, will become a one-month contract of the respective index derivatives on the December 2025 monthly expiry day (EOD).
The NSE has also noted that these dates may be subject to change on account of any holiday declared.
To read the NSE circular, visit here.