Tuesday, January 19, 2021

SEBI revises steps announced to curb market volatility amid Covid

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Sebi relaxes rules for listed companies with stressed assetsNew Delhi, Nov 25 (IANS) The Securities and Exchange Board of India (SEBI) has revised several measures announced in March this year to curb market volatility in the wake of the pandemic.

The timeline for the measures was extended several times and will be in force till Thursday, November 26.

The SEBI said that based on market feedback and changed market environment, it has decided to withdraw the regulations.

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If market-wide position limit (MWPL) utilisation in a security crosses 95 per cent, derivative contracts enter into a ban period, wherein, all clients or trading members are required to trade in the derivative contracts of said scrips only to decrease their positions through offsetting positions.

As per the norms imposed in March, any increase in open positions would attract appropriate penal or disciplinary action of the stock exchanges or clearing corporations.

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This norm will cease to exist after November 26.

Measures regarding increase in margin for non-F&O stocks in cash market will also stand withdrawn with effect from of business on Thursday.

However, two other measures for index derivatives and flexing of dynamic price bands for F&O stock would continue to remain in force till further directions, SEBI said in a statement.

Source: IANS

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