Circuit Breakers
The Exchange has implemented index-based market-wide circuit breakers with effect from July 02, 2001 based on SEBI Circular No. SMDRPD/Policy/Cir-37/2001 dated June 28, 2001. SEBI vide its Circular no. CIR/MRD/DP/ 25 /2013 dated September 03, 2013 has partially modified the earlier circular. The revised guidelines are as below.
The index-based market-wide circuit breaker system applies at 3 stages of the index movement, either way viz. at 10%, 15% and 20%. These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the Nifty 50, whichever is breached earlier. In this regard the Exchange has issued a circular no 85/2013 (Download No-24709) dated October 11, 2013.
The market shall re-open, after index based market-wide circuit filter breach, with a pre-open call auction session. The extent of duration of the market halt and pre-open session is as given below:
| Trigger limit | Trigger time | Market halt duration | Pre-open call auction session post market halt |
|---|---|---|---|
| 10% | Before 1:00 pm. | 45 Minutes | 15 Minutes |
| At or after 1:00 pm upto 2.30 pm | 15 Minutes | 15 Minutes | |
| At or after 2.30 pm | No halt | Not applicable | |
| 15% | Before 1 pm | 1 hour 45 minutes | 15 Minutes |
| At or after 1:00 pm before 2:00 pm | 45 Minutes | 15 Minutes | |
| On or after 2:00 pm | Remainder of the day | Not applicable | |
| 20% | Any time during market hours | Remainder of the day | Not applicable |
Exchange shall compute the Index circuit breaker limits for 10%, 15% and 20% levels on a daily basis based on the previous day's closing level of the index rounded off to the nearest tick size.
Daily Market Wide Circuit Filter
| NIFTY 50 Closing As on 18-Dec-2024 | 24,198.85 |
|---|---|
| Index Circuit Filter Trigger Limit | Equivalent Point (+/-) for 19-Dec-2024 |
| 10% | 2,419.90 |
| 15% | 3,629.80 |
| 20% | 4,839.75 |
