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SEBI revises circuit limit system for Sensex, Nifty

The new calculation would apply for 10%, 15% and 20% circuit limits in Sensex and Nifty, with effect from October 1, 2013.

September 03, 2013 9:26 IST | India Infoline News Service
SEBI directed stock exchanges to implement an index based market wide circuit breaker system.

The new calculation would apply for 10%, 15% and 20% circuit limits in Sensex and Nifty, with effect from October 1, 2013.

SEBI said: "The stock exchange on a daily basis shall translate the 10 per cent, 15 per cent and 20 per cent circuit breaker limits of market-wide index variation based on the previous day's closing level of the index".

Sebi further said that the stock exchange should resume trading in stocks with a 15-minute pre-open call auction session, after any trading halt.

Such pre-open call auction session shall be governed as per the provisions mandated vide SEBI circulars no. CIR/MRD/DP/21/2010 dated July 15, 2010, CIR/MRD/DP/32/2010 dated September 17, 2010 and CIR/MRD/DP/6/2013 dated February 14, 2013.

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