The Nifty lot has changed twice since late 2024, and each change reached new contracts first

  1. Lot 75 for new contracts

    Up from 25. The SEBI start date, 20 Nov, was a trading holiday. Weekly and monthly contracts already listed kept 25 until they expired.

  2. NSE circular sets lot 65

    From the close of 28 Oct 2025, using the September 2025 average close.

  3. Last expiry on the old lot

    The last monthly expiry on 75. Quarterly and half yearly contracts move to 65 at the close.

  4. First weekly on lot 65

    The first weekly expiry on the new lot. The last weekly on the old lot was 23 Dec 2025.

  5. First monthly on lot 65

    The first monthly expiry on the new lot.

Dated steps in the Nifty lot from NSE circulars. A change reached new contracts first. Contracts already listed ran to expiry on the old lot, except the long dated ones, which switched on a set date. Rule history, not market data. Source: NSE circulars NSE/FAOP/64625, NSE/FAOP/64990 and NSE/FAOP/70616 on the Nifty lot; SEBI master circular of 30 Dec 2024. As of 16 Oct 2026.

On 16 Oct 2026 NSE's lot size file showed 65 units for Nifty in every expiry month it lists, out to June 2031. The timeline lists the dated changes, and each row says when the new lot first applied.

The lot was 75 for new contracts from 21 Nov 2024, up from 25 before that. NSE's circular of 3 Oct 2025 set 65 from the close of 28 Oct 2025, using the average Nifty close for September 2025. Weekly and monthly contracts already listed stayed on 75 until their last expiries on 23 Dec and 30 Dec 2025. The first weekly on the new lot was 6 Jan 2026, and the first monthly was 27 Jan 2026. Quarterly and half yearly contracts moved to 65 at the close of 30 Dec 2025.

Why it changes: SEBI's master circular of 30 Dec 2024 has exchanges review the lot every six months, on the average of the last month's closes, with at least two weeks' notice. A new index contract must be worth at least Rs 15 lakh when it is introduced, and the lot is set so that its value on the review day sits in a band of Rs 15 to 20 lakh. The lot must be a multiple of 5 and at least 10. A higher lot applies only to new contracts.

A lot is a rule, not a view on the index. Read the lot with its date, because the number on a screen can change at a review.

Before you trade. Derivatives trading carries a high risk of loss. SEBI's study "Profitability of Individual Traders in the Equity Derivatives Segment (FY25 to FY26)" (August 2026) found that 87.7% of individual traders in equity F&O made net losses in FY26, with aggregate net losses of Rs 91,685 crore. Read the SEBI study