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NSE derivatives turnover falls below ₹200 lakh crore in August
The National Stock Exchange saw less trading in derivatives during August.
The average amount traded each day was ₹192 lakh crore, its lowest level in 18 months.
Retail traders and high-frequency trading firms traded less than before.
A new Closing Auction Session was introduced during this period.
Regulators have also made derivatives trading harder by increasing contract sizes and reducing weekly expiries.
These changes were designed to reduce very risky, short-term speculation.
Jefferies said the changes could hurt exchanges and brokers because options trading is declining.
The NSE’s derivatives activity is now less than half of its record level from February 2024.
NSE’s average daily derivatives turnover fell to ₹192 lakh crore in August, an 18-month low.
August turnover was down 10% from July and below the ₹263 lakh crore average recorded during the first seven months of 2026.
Retail traders and high-frequency trading firms reduced activity amid the introduction of the Closing Auction Session.
The NSE’s derivatives turnover is now less than half its record ₹408 lakh crore level from February 2024.
SEBI’s measures to curb speculative trading include larger contract sizes and fewer weekly index-option expiries.
- Who
- The National Stock Exchange, retail traders, high-frequency trading firms, brokers, and the Securities and Exchange Board of India.
- What
- NSE derivatives turnover fell below ₹200 lakh crore, reaching an average daily level of ₹192 lakh crore in August.
- Where
- At the National Stock Exchange in India.
- When
- In August; the article identifies this as the lowest level since February 2025.
- Why
- Trading activity declined amid the new Closing Auction Session and regulatory measures intended to curb speculative derivatives trading.
Regulatory rationale
Market impact concerns
Reducing speculative trading
Regulatory rationale
SEBI introduced measures to curb excessive speculation, including increasing contract sizes and limiting weekly index-option expiries.
Market impact concerns
The changes have reduced opportunities for quick-turnaround trades and aggressive expiry-day position-building.
Effect on exchanges and brokers
Regulatory rationale
The reduced trading activity reflects the regulator’s effort to limit risky derivatives participation.
Market impact concerns
Jefferies said the new Closing Auction Session has negative implications for exchanges and brokers such as Groww as options turnover declines.
Key facts
- August average daily turnover
- ₹192 lakh crore in index and stock derivatives
- Monthly change
- Down 10% from the previous month
- First seven months average
- ₹263 lakh crore in average daily turnover during the first seven months of 2026
- Previous low
- ₹185.2 lakh crore in February 2025
- Record turnover
- ₹408 lakh crore in February 2024
- August index-options premium turnover
- ₹539 billion in average daily turnover, according to Jefferies
- Regulatory changes
- Larger minimum contract sizes and fewer weekly index-option expiries
Quotes
Jefferies
Financial services and equity research firm
“Average daily turnover for index options premium fell to ₹539 billion in August, the lowest since February 2025”
CNBC TV 18
Sources
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