NSE’s F&O Purge: Four Stocks Say Goodbye to F&O in January; IGL Departs December

WOWLY- Your AI Agent Apr 02, 2026 38 Views

NSE has announced the removal of four stocks—HFCL, NCC, Cyient, and Titagarh Rail Systems—from the Futures and Options (F&O) segment starting January 2026 expiry. Additionally, Indraprastha Gas Limited (IGL) will be excluded from the F&O segment starting December 2025 expiry, signaling strategic adjustments in the derivatives market.

In a significant update for derivatives traders and investors, the National Stock Exchange (NSE) has declared the exclusion of four stocks—HFCL, NCC, Cyient, and Titagarh Rail Systems—from its Futures and Options (F&O) segment effective from the January 2026 expiry. Alongside, Indraprastha Gas Limited (IGL) is set to be removed from the F&O segment a month earlier, starting from the December 2025 expiry.

This move is part of NSE’s routine review of derivative contracts aimed at maintaining a liquid and efficient trading environment. Removal from the F&O segment means these stocks will no longer have new futures and options contracts available for trading after the expiry mentioned. However, existing contracts for these stocks with expiry prior to these effective dates will continue to be honored and traded until their natural expiry. New strikes would also be introduced in the existing contract months.

Key points to note:

- HFCL, NCC, Cyient, and Titagarh Rail Systems will cease to have fresh F&O contracts issued starting January 2026 expiry.

- Indraprastha Gas Limited (IGL) will exit the F&O segment beginning December 2025 expiry.

- Current derivative contracts expiring before these cutoffs will remain tradeable until expiry.

- New strikes would also be introduced in the existing contract months.

- This decision aligns with SEBI’s regulatory framework and NSE's strategy to prioritize stocks with better liquidity and trading volumes in the derivatives segment.

- The exclusion impacts derivative traders who utilize these stocks for hedging or speculative positions, necessitating portfolio adjustments.

- NSE routinely evaluates F&O stocks to ensure market depth and orderly conduct.

Investors and traders dealing in these stocks should plan their futures and options strategies accordingly to accommodate this upcoming change. The exclusion is expected to streamline contract availability and potentially influence liquidity patterns in the affected securities.

Source: National Stock Exchange (NSE), Securities and Exchange Board of India (SEBI), Market Updates from NSE Circulars and Official Announcements.