Where are circuit breakers set for Monday?
NSE :
Circular No.: NSE/CMO/015/2009
Download No. NSE/CMTR/ 12209
Date: March 31, 2009
Dear Members,
Sub: Index based market wide circuit breaker for the quarter April 01, 2009 to June 30, 2009
SEBI vide its circular no. SMDRPD/Policy/Cir-37/2001 dated June 28, 2001 has informed the Exchange to implement index based market wide circuit breaker in compulsory rolling settlement with effect from July 02, 2001. The index based market wide circuit breaker system is applicable at three stages of the index movement either way at 10%, 15% and 20%. In this regard, Exchange has issued circular no. NSE/CMO/0015/2001 (Download No. NSE/CMTR/2657) dated June 29, 2001.
Accordingly the percentages are calculated on the closing index value of the quarter. These percentages are translated into absolute points of index variations (rounded off to the nearest 10 points in case of NIFTY). At the end of each quarter, these absolute points of index variations are revised and made applicable for the next quarter.
On March 31, 2009, the last trading day of the quarter, NIFTY closed at 3020.95 points. The absolute points of NIFTY variation (over the previous days closing NIFTY) which would trigger market wide circuit breaker for any day in the quarter between April 01, 2009 to June 30, 2009 would be as under:-
Percentage (+/-) Equivalent Point (+/-)
10% 300.00
15% 450.00
20% 600.00
For any clarifications, members are advised to contact the following officials:
Mr. Khushal Shah / Mr. Sunil Gawde / Mr. Amit Kursija / Mr Hasnain Khatri / Ms. Snehal Date at 26598153 / 26598156 / 26598157
For National Stock Exchange of India Ltd.
Suprabhat Lala
Asst. Vice President (Capital Market)
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BSE:
Notice no : 20090331-9
Notice date : Tuesday, March 31, 2009
Subject : Index based market wide circuit breaker for the Quarter 1st April 2009 to 30th June 2009
Segment Name Equity
Contents :
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Index based market wide circuit breaker for the
Quarter 1st April 2009 to 30th June 2009
Trading Members of the Exchange are hereby informed that the Exchange implements on a quarterly basis (SEBI circular SMDRPD/Policy/Cir-37/2001 dated June 28, 2001) the index based market wide circuit breaker system. The system is applicable at three stages of the index movement either way at 10%, 15% and 20%. This circuit breaker brings about a coordinated trading halt in all equity and equity derivative markets nationwide.
The market wide circuit breakers would be triggered by movement of either SENSEX or the NSE S&P CNX Nifty whichever is breached earlier.
In case of a 10% movement of either of these indices, there would be a 1-hour market halt if the movement takes place before 1 p.m. In case the movement takes place at or after 1 p.m. but before 2.30 p.m. there will be a trading halt for hour. In case the movement takes place at or after 2.30 p.m. there will be no trading halt at the 10% level and the market will continue trading.
In case of a 15% movement of either index, there will be a 2-hour market halt if the movement takes place before 1 p.m. If the 15% trigger is reached on or after 1 p.m. but before 2 p.m., there will be a 1 hour halt. If the 15% trigger is reached on or after 2 p.m. the trading will halt for the remainder of the day.
In case of a 20% movement of the index, the trading will be halted for the remainder of the day.
The percentages are calculated on the closing index value of the quarter. These percentages are translated into absolute points of index variations (rounded off to the nearest 25 points in case of SENSEX). At the end of each quarter, these absolute points of index variations are revised and made applicable for the next quarter.
On March 31, 2009, the last trading day of the quarter, SENSEX closed at 9708.50 points. The absolute points of SENSEX variation (over the previous days closing SENSEX) which would trigger market wide circuit breaker for any day in the quarter between 1st April 2009 and 30th June 2009 would be as under:
Percentage (+/-) Equivalent Points (+/-)
10% 975
15% 1450
20% 1950
Sanjay Saksena
Sr. General Manager- Knowledge Management
THIS IS A COMPUTER GENERATED NOTICE AND DOES NOT REQUIRE SIGNATURE
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