In the world of dry and serious market trends, Zerodha CEO Nithin Kamath recently expressed a humorous take on the trading world. He shared a light-hearted "obituary" for the Bank Nifty Weekly contracts on X (formerly Twitter) announcing its end in a witty and memorable way.
The Humorous "Obituary"
Kamath took to the social media platform X to share the news, writing, "An old trader friend of mine shared this." The post humorously attributed the “passing” of Bank Nifty Weekly contracts to "a brief struggle with regulation" and marked its lifespan as 27.05.2016 – 13.11.2024.
The post said, "We regret to inform you that Bank Nifty Weekly expired (for the final time) this Wednesday. Wednesdays will never be the same without her."
The Decision and SEBI's Regulations
The decision to discontinue Bank Nifty Weekly contracts came as a result of SEBI's new regulations to reduce speculation in the derivatives market. With the updated policy allowing only one type of weekly contract per exchange, the NSE chose to retain the Nifty 50 weeklies while the BSE kept the Sensex contracts. This marked the end of the once-popular Bank Nifty Weekly contracts.
Netizens react
Responding to Kamth's post, an X user commented, "Goodbye, #Banknifty (2016-2024). You’ve been a wild ride, full of lessons and memories. It’s hard to imagine trading without you, but your impact will always stay with us."
Another user wrote, "I will miss badly. What should I do from next Wednesday?"
Farewell and Memories
The "obituary" shared by Kamath ended in a humorous yet touching way, featuring quotes that captured the bittersweet essence of saying goodbye to Bank Nifty Weekly. The post sparked emotional responses from traders, reflecting on the impact and memories left by the now-defunct contracts.
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