Mkts hit 20pc upper circuit, trading closes
Mumbai, May 18: Trading in the Indian markets have been called off for the day as the markets hit 20 per cent upper circuit.
As
per
a
system
developed
by
the
stock
exchange
authorities
when
the
markets
changes
more
than
10
per
cent
the
trading
is
suspended
for
an
hour
in
order
for
it
to
cool
down.
While
more
than
15
per
cent
sees
a
suspension
of
2
hours,
due
to
the
markets
hitting
20
per
cent
upper
circuit
this
Monday
the
trading
has
been
halted
for
the
day.
12:15
PM
What is a circuit breaker in Stock Market?
Sensex
gains
2000
points
more
After
reopening
the
Sensex
has
reached
14272.63
mark
going
up
by
2099.21
points.
The
Nifty
has
gone
up
to
4308.05
increasing
by
636.40
points.
12:00
PM
Trading halt extended to 11: 55 AM
With
the
markets
hitting
the
the
upper
circuit
within
30
seconds
of
opening,
the
trading
was
halted
for
an
hour
to
be
reopened
at
10:55
AM.
Now
the
period
has
been
extended
by
one
more
hour
till
11:55
AM.
11:14
AM
Unusual bullish trend in markets suspends trading
The winning streak of United Progressive Alliance (UPA) has spread to the markets with the Sensex surging above 1300 points and Nifty gaining more than 500 points. As of now the trading has been suspended due to unusual bullish trend in the Sensex.
The 50-share NSE Nifty was up 531.65 points or 14.48 per cent at 4,203.30 and the 30-share BSE Sensex surged 1305.97 points or 10.73 per cent to 13,479.39.
Trading would be halted for the day if Sensex gains 1450 points after 2 PM. If the Sensex gains 975 points between 1 PM and 2:30 pm trading would be halted for 30 minutes.
The first session after the positive results of the elections from the market's view, the markets zoomed to the upper circuit level as opposed to the lower circuits it has been throwing on the country for quiet sometime now. The third Mondays of May 2004 and May 2006 has seen lower circuits to be labelled as 'Black Mondays'. But this third Monday of May has come as a positive relief to the markets.
As
per
the
reports
of
the
economic
analysts,
with
a
stable
government
brought
into
power,
the
investors
have
shown
positive
reactions.
The
Foreign
Institutional
Investors
(FIIs),
who
have
been
disinvesting
for
sometime
now,
are
showing
confidence
in
the
Indian
Markets.
10:38
AM
OneIndia News