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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 27-Nov-2020 12,968.95
Index Circuit Filter Trigger Limit Equivalent Point (+/-) for 01-Dec-2020
10% 1,296.90
15% 1,945.35
20% 2,593.80
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