ICICIdirect - buying not allowed message

[scorpicity]

Hi all,

Wish someone who has knowledge on the icicidirect platform explain to me the following:

Have noticed that whenever I tried to buy a penny stock which is lesser than a rupee...say 0.55 on icicidirect.com, the message keeps poping up saying that "buying in this scrip is not allowed for the moment"... any idea why this happens.

Is it that icicidirect doesn't allow users to buy stocks lesser than a rupee?

Or are there any circuit regulations enforced by the exchange that prevents it?

Can somebody let me know on this. Thank you all for answering my queries.

 

[kkseal]

Thank God! My heart skipped a beat when i read the title of your thread as i use ICICIDirect & plan to buy a bit tomorrow.

As for your query, don't know the reason. You can mail/ph their Helpdesk.

Regards,
Kalyan.

 

[yasinrasheed]

hiiiiii

Monthly 5 lakh rupees bussi. (including buying and selling). how much rupees i can pay brokerage icici direct ....
i am new in this field

pls replay..

 

[rajanscompu]

Hello,

I am also new to this field. But as per my knowledge the minimum amount of investment in a purchase is Rs.500/- in the ICICIDIRECT. So You may try to buy the penny stock with value Rupees 500/-.( I am not try this one).

Nice to thank you to give me a reply for your querry,

Thanks

Rajansankar.

Hi all,

Wish someone who has knowledge on the icicidirect platform explain to me the following:

Have noticed that whenever I tried to buy a penny stock which is lesser than a rupee...say 0.55 on icicidirect.com, the message keeps poping up saying that "buying in this scrip is not allowed for the moment"... any idea why this happens.

Is it that icicidirect doesn't allow users to buy stocks lesser than a rupee?

Or are there any circuit regulations enforced by the exchange that prevents it?

Can somebody let me know on this. Thank you all for answering my queries.

 

[alpha1]

Hi all,

Wish someone who has knowledge on the icicidirect platform explain to me the following:

Have noticed that whenever I tried to buy a penny stock which is lesser than a rupee...say 0.55 on icicidirect.com, the message keeps poping up saying that "buying in this scrip is not allowed for the moment"... any idea why this happens.

Is it that icicidirect doesn't allow users to buy stocks lesser than a rupee?

Or are there any circuit regulations enforced by the exchange that prevents it?

Can somebody let me know on this. Thank you all for answering my queries.

There can be two reasons why this is there.
1. There might be no seller in the order queue, and the crappy ICICI server takes this as the scrip not tradable. Strictly speaking any order, even if pending, holds good for the day, and should not be rejected. Even if the scrip has hit circuit. Please correct me if I am wrong in this.

2. a more plausible explanation might be that certain scrips (like the "penny stocks") might be disallowed byt ICICI broking. Although I don't see any reason why they should disallow anyone doing that.

3. in any case, the best solution is to ring up their customer care, and abuse them in every way possible

 

[zuljana]

Hi friends,,,,

Dont worry this normal with ICICI..... you know "It happens only in ICICI"

Happy & profitable trading for all

 

[alpha1]

^ Like I said - abuse the customer care in every way possible, since you will be bothered time and again by ICICI direct in future also.

 

[zuljana]

Hi friends,,,

I have opened account with Networth Stockbrokers....

They have real-time quotes for both NSE & BSE... Trade execution speed is very good...

Brokerage a bit lower than ICICI...

Their customer service is wonderful,,,, you will get your problems solved very quickly..

You can transfer funds online ,if you have bank account with either ICICI or UTI bank, instantly... but for transferring funds from your trading account to your bank account will take a day or two...

Intraday limit is allowed Ten times of your available limit...

 

[zuljana]

Hi friends,,,,

Market is down,,, sensex 550 points down,,, might be a good oppurtunity to buy,,

but as usual ICICI is playing spoil-sport,,,, login page is not opening

"ICICI DOWN DOWN" "ICICI DOWN DOWN" "ICICI DOWN DOWN"

 

[alpha1]

Did you call them up and apprise them of the situation?