Nifty Lot Size 2026: Nifty 50, Bank Nifty & Sensex Contracts

Nifty lot size has been revised from January 1, 2026, following changes in index derivatives contract specifications on the National Stock Exchange of India (NSE). The updated structure applies to all weekly, monthly, and quarterly contracts expiring from January 2026 onward.

This article explains the revised contract sizes for major indices, including nifty 50 lot size, bank nifty lot size, and sensex lot size, along with transition rules and expiry handling.

Current Index Lot Sizes (Effective January 2026)

Note:

• The nifty 50 lot size is now 65.
• The bank nifty lot size is now 30.
• Nifty Next 50 continues with a lot size of 25.
• The SENSEX lot size remains at 20 in 2026.
• The Sensex lot size was increased from 10 to 20 earlier in 2025 after a regulatory review.
• No additional revisions were announced for Sensex alongside the January 2026 NSE changes.

Expiry Cut-Off: Transition to the New Structure

The change followed a defined expiry-based cut-off.

• All contracts expiring up to December 30, 2025 traded with old lot sizes.
• All contracts expiring January 2026 onward use revised lot sizes.
• Existing quarterly and half-yearly contracts were aligned after the December 2025 monthly expiry.

December 2025 expiry was the final boundary between the two lot structures.

Q1 2026 Quarterly Contracts and Lot Sizes

All quarterly contracts in Q1 2026 use the revised lot sizes.

Quarterly Expiries in Q1 2026

• January 2026
• February 2026
• March 2026 (Quarter-ending expiry)

Lot sizes applicable:

• Nifty: 65
• Bank Nifty: 30
• FINNIFTY: 60
• MIDCPNIFTY: 120

There are no legacy contracts with older lot sizes in Q1 2026.

March 2026 Expiry Under the New Regime

March 2026 is the first full quarter-ending expiry operating entirely under the revised structure.

Key structural implications:

• Lower notional exposure per lot compared to March 2025
• Updated hedge quantity alignment for rollover contracts
• Adjustments in quantity-based risk parameters

All contracts in March 2026 reflect uniform lot sizing across expiries.

Why Lot Sizes Are Revised Periodically

Lot sizes are reviewed to maintain manageable contract values as index levels change.

This supports:

• Controlled per-lot exposure
• Efficient capital deployment
• Improved market liquidity
• Balanced contract participation

As index values rise, notional contract value also increases. Adjusting lot sizes helps maintain proportional exposure.

Impact of Revised Lot Sizes on Contract Structure

1. Lower Exposure per Contract

Smaller lot sizes reduce notional exposure per lot.

For example:

• Earlier Nifty contract: 75 units
• Current Nifty contract: 65 units

This directly changes contract value calculation.

2. Position Size Calculations

Total exposure now depends on:

• Number of lots
• Strike price (for options)
• Futures price level

A fixed number of lots now represents a different total contract value compared to 2025.

3. Effect on Option Contracts

The nifty option lot size and nifty futures lot size now align with the revised contract specifications.

Changes may affect:

• Per-lot margin requirements
• Breakeven value calculations
• Quantity-based exposure metrics

Total margin still depends on:

• Volatility
• Strike selection
• Number of contracts
• Broker-level risk framework

4. Spread and Calendar Contracts

Certain day-spread order books were restricted around the transition period. This applied to some combinations during contract migration. Post-transition, contracts operate under uniform sizing.

Sensex and BSE Lot Size Clarification

The bse lot size for Sensex derivatives remains 20 in 2026.

The increase from 10 to 20 occurred earlier in 2025. No additional changes were introduced alongside the January 2026 NSE revisions. The revision aligned Sensex contract value more closely with peer index contracts.

Uniformity Across Expiry Types

From January 2026 onward:

• Weekly contracts use revised lot sizes
• Monthly contracts use revised lot sizes
• Quarterly contracts use revised lot sizes

There is no variation in lot size based on expiry type.