Circuits limit for stock exchanges
There are three circuit filters for indices - 10%, 15%, and 20%. These filters are applied to Sensex or Nifty whichever crosses the limit first. The trigger also depends on the time at which it occurs.
10% drift on either side
If the drift is before 1 pm – 1 hour halt
If the drift is after 1 but before 2:30 pm – half an hour halt
If the drift is after 2.30 pm – no halt
15% drift on either side
If the drift is before 1 pm – 2 hours halt
If the drift is after 1 pm but before 2 pm- 1 hour halt
If the drift is after 2 pm – no further halt
20% drift in either direction
In case of a 20% movement in either index, the trading will halt for the remainder of the day.
The circuit filters are reduced in case of illiquid scrips. The circuit filters are reduced to 10% or 5% or 2% based on the criteria decided by the stock exchanges. No circuit filters are applicable on scrips in which derivative products are available and scrips which are liquid and included in indices on which derivative products are available. However, the BSE imposes dummy circuit filters on these scrips to avoid punching errors.
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