As part of its surveillance measures, the Bombay Stock Exchange has restricted the price movement of 127 companies to a maximum of 2 per cent a day. The National Stock Exchange has also lowered the daily permissible trading price limits for 24 stocks. The changes are effective from Wednesday.
The exchanges set the circuit filter of a stock as part of their surveillance mechanism to avoid excessive volatility in the particular share price.
The scrips that would attract revised circuit filter include Aashee Infotech Ltd, Hindustan Housing Co Ltd, Hindusthan Udyog Ltd, Prima Agro Ltd, and Zenith Capitals Ltd
The BSE has also set the circuit filter level for the shares of 799 companies to 5 per cent, while for the scrips of another 179 firms to 10 per cent. The NSE has reduced circuit limits for 8 stocks from 10 per cent to 5 per cent; for 6 stocks, from 20 per cent to 5 per cent and from 20 per cent to 10 per cent for 10 others. The companies affected by the changes include Global Vectra, Kwality Dairy, Khandwala Securities and Bharatiya International.
The NSE has also announced the price bands of 1,571 securities. It has fixed the circuit filter level of five per cent for 222 stocks, 10 per cent for 78 scrips 20 per cent for 1,096 stocks.