The Bombay Stock Exchange, BSE on Monday has modified the imposed circuit filters over 1600 stocks as par its regular surveillance action to control the market instability and for the welfare of the ordinary investors.
The new amended circuit has been effective from today. BSE has revised the three-circuit areas (2%, 5% and 10%) over the 1600 stocks and reframed it according to its nature and current status in the stock market.
The 10 percent circuit breaker has been framed on 1,118 companies while 5% circuit breaker has been imposed for 468 and 2% for 22 companies, as BSE informed this fact in a released circular.
As per stock exchange directives, ‘There are four upper circuit breakers imposed on some selective stocks that are highly volatile.’ It is a device of halting trading for the day if the stock prices face some unexpected percentage changes in its pre-determined prices. The stock exchanges have 2, 5, 10 and 20 per cent circuit breakers.
The stocks within 2% circuit boundary are highly volatile and there are chances of highly tentative activity in them, while as the circuit boundary exceeds, the chances of volatility decreases.
The scrips having derivative products and the scrips, which are liquid and listed in the indices on which derivative products are available escape from the circuit boundary, as per stock exchange directive says. However, the Exchange imposes dummy circuit filter on these scrips to avoid punching errors, if any.
Adani Enterprises Ltd, Ajanta Soya Ltd, Arvind Chemicals Ltd, Lanco Industries Ltd, Khandwala Securities Ltd, Kaveri Seed Company Ltd, Marg Constructions Ltd and State Trading Corporation of India are some selective stocks that have reframed by 10% market circuit.
While Cindrella Hotels Ltd, Autolite (India) Ltd., Bellary Steel & Alloys Ltd, Gujarat Lease Financing Limited, Prag Bosimi Synthetics Ltd, Parekh Platinum Ltd, Walchand Peoplefirst Limited, Jolly Boards Ltd, Victoria Mills Ltd, Empower Industries India ltd. Skyline Millars Ltd are among the selective stocks that have been framed 5% circuit filter.
For the detail list of revised circuit, visit:
http://www.bseindia.com/mktlive/circuit_filter/upper_cf/groupwise.asp
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