Equities triggered final upper limit on Monday in response to Congress-led United Progressive Alliance’s (UPA) unparalleled victory at the general elections.
When the market halted for the day, the Sensex was at 14, 272.63, up 2099.21 points or 17.24%. Similarly, the Nifty gained 636.4 points or 17.33% to 4308.05 at that time. The base for calculating the percentage rise was SENSEX and NIFTY closing figures of March-31st. I don’t know who did this rule, but this is the rule.
According to the new rules, if there is 10% movement of either Sensex or the Nifty, trading is halted for an hour market, if this happens before 1 pm. Post 1 pm but before 2.30 pm, there is halt for half-an-hour, while after 2.30 pm, trading does not halt at the 10% movement.
If there is 15% movement in Sensex or the Nifty, trading will be halted for two hours if the movement happens before 1 pm. After 1 pm but before 2 pm, trading will be halted for one hour. Similarly, if there movement on or after 2 pm, there will be no trading for the rest of the day.