NSE trades Nifty future, CNX IT and BANK Nifty futures contracts having one-month, two-month and three-month expiry cycles.
All contracts expire on the last Thursday of every month. Thus a January expiration contract would expire on the last Thursday of January and a February expiry contract would cease trading on the last Thursday of February. On the Friday following the last Thursday, a new contract having a three-month expiry would be introduced for trading.
Depending on the time period for which you want to take an exposure in index futures contracts, you can place buy and sell orders in the respective contracts. The instrument type refers to “Futures contract on Index” and contract symbol-NIFTYFUT denotes a “Futures contract on Nifty index” and the Expiry date represents the last date on which the contract will be available for trading.
| Contract specification | S&P CNX Nifty futures |
| Underlying index | S&P CNX Nifty |
| Exchange of trading | National Stock Exchange of India Limited |
| Security Descriptor | 1.N FUTIDX NIFTY 2.N FUTIDX MNIFTY |
| Contract size | 1.NIFTYFUT-Permitted lot size shall be 50 (minimum value Rs.2lakh) 2.MNIFTYFUT-Permitted lot size shall be 20(minimum value Rs.80thousand) |
| Expiry day | The last Thursday of the expiry month or the previous trading day if the last Thursday is a trading holiday. |
| Settlement basis | Mark to Market and final settlement will be cash settled on T+1 basis. |
| Settlement price | Daily settlement price will be the closing price of the futures contracts for the trading day and the final settlement price shall be the closing value of the underlying index on the last trading day. |
INDEX CNX IT FUTURES
| Contract specification | S&P CNX Nifty futures |
| Underlying index | CNX IT |
| Exchange of trading | National Stock Exchange of India Limited |
| Security Descriptor | N FUTIDX CNXIT |
| Contract size | Permitted lot size shall be 100(minimum value Rs2lakh) |
| Expiry day | The last Thursday of the expiry month or the previous trading day if the last Thursday is a trading holiday. |
| Settlement basis | Mark to Market and final settlement will be cash settled on T+1 basis. |
| Settlement price | Daily settlement price will be the closing price of the futures contracts for the trading day and the final settlement price shall be the closing value of the underlying index on the last trading day. |
BANK NIFTY FUTURES
| Contract specification | S&P CNX Nifty futures |
| Underlying index | CNX BANK |
| Exchange of trading | National Stock Exchange of India Limited |
| Security Descriptor | N FUTIDX BANKNIFTY |
| Contract size | Permitted lot size shall be 100(minimum value Rs2lakh) |
| Expiry day | The last Thursday of the expiry month or the previous trading day if the last Thursday is a trading holiday. |
| Settlement basis | Mark to Market and final settlement will be cash settled on T+1 basis. |
| Settlement price | Daily settlement price will be the closing price of the futures contracts for the trading day and the final settlement price shall be the closing value of
the underlying index on the last trading day. |
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