NSE to Exclude Four Stocks from F&O Segment by January 2026

The National Stock Exchange of India (NSE) has announced that it will exclude four securities from the Futures and Options (F&O) segment starting from the January 2026 expiry. The affected companies are Cyient Ltd, HFCL Ltd, NCC Ltd, and Titagarh Rail Systems Ltd.

The announcement was made through an official circular dated October 24, where the exchange outlined the timeline and implications of this change for traders and investors.

No New Contracts After December 2025 Expiry

According to the NSE circular, no new F&O contracts will be introduced for these four securities after the expiry of their existing ones.

Currently, existing unexpired contracts for the October 2025, November 2025, and December 2025 expiries will remain available for trading until their respective expiry dates. The exchange clarified that new strike prices will continue to be introduced within these existing contract months as usual.

After the December 2025 expiry, all derivative trading in Cyient, HFCL, NCC, and Titagarh Rail Systems will be discontinued. This means that from the January 2026 series onward, these securities will no longer be part of the NSE’s derivatives segment.

Also Read: Trump’s $300 Million White House Ballroom Backed by Corporate Titans

Action in Line with SEBI’s Updated Eligibility Criteria

The decision to exclude these securities aligns with the Securities and Exchange Board of India’s (SEBI) circular dated August 30, 2024, which updated the eligibility criteria for stocks in the derivatives segment.

Under SEBI’s revised framework, exchanges are required to periodically review F&O-eligible securities and exclude those that do not meet the prescribed criteria, ensuring that only stocks with sufficient liquidity, market capitalization, and trading volume remain part of the derivatives universe.

The NSE’s latest move is a part of this regular compliance exercise aimed at maintaining market integrity and liquidity standards in the F&O market.

Impact on Traders and Market Participants

For now, traders can continue to take positions in the existing October, November, and December 2025 series of these four stocks. However, they will need to close or square off positions before the expiry of the December 2025 contracts, as no rollover will be possible beyond that point.

The exchange has also assured that new strike prices will continue to be added for these contracts to facilitate orderly trading and hedging activities until their final expiry.

Key Highlights of the NSE Circular

• Effective date: January 2026 expiry.

• Stocks excluded: Cyient Ltd, HFCL Ltd, NCC Ltd, and Titagarh Rail Systems Ltd.

• Last available contracts: December 2025 expiry.

• Trading continuity: Existing contracts for October, November, and December 2025 to continue until expiry.

• Reason: In line with SEBI’s August 30, 2024, circular on derivative eligibility norms.

Conclusion

The exclusion of Cyient, HFCL, NCC, and Titagarh Rail Systems from the NSE F&O segment marks a key regulatory adjustment in India’s derivatives market. As per the circular, while existing contracts will run their course through end-2025, no new contracts will be launched thereafter.

This step underscores the NSE’s continued adherence to SEBI’s eligibility framework, ensuring that only stocks meeting required standards remain available for F&O trading going forward.

Click here to explore:
FII DII Data
IPO
BSE Sensex