Zerodha co-founder Nithin Kamath recently marked the end of India’s popular Bank Nifty weekly options with a unique tribute on social media platform X (formerly Twitter). Kamath posted an “obituary” to the Bank Nifty Weekly options contract, which has been a staple for many Indian traders since its introduction in 2016 by the National Stock Exchange (NSE).The end of the Bank Nifty weekly options follows a recent directive by the Securities and Exchange Board of India (SEBI). In a circular issued on October 10, SEBI announced the discontinuation of weekly index options contracts for three indices, including the popular Nifty Bank. The contract, which gained widespread popularity among retail investors, has been phased out as part of SEBI’s broader regulatory changes to reduce speculative trading risks in the Indian market.
Zerodha co-founder Nithin Kamath's TakeThe obituary reads “In loving memory. We regret to inform you that Bank Nifty Weekly expired (for the final time) this Wednesday, after a brief struggle with regulation. In her short life, she saw many ups and downs. She was wild and mysterious, leaving us speculating about her every move. We are forever enriched by her presence (7% of us, that is, 93% of traders make losses from F&O trading). Wednesdays will never be the same without her. Bank Nifty Weekly is survived by her loving mother, NSE, her brothers, Bank Nifty Monthly and Quarterly, and her sister, the Nifty 50 weekly contract”.
