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Journalism of Courage
MUMBAI, June 22: In an attempt to restore market equilibrium and curb excessive volatility in share prices the Bombay Stock Exchange on Monday night decided to impose daily margin of 15 per cent on purchases.
Beginning from June 23, the exchange has decided to impose a daily margin of 15 per cent on purchase transactions in the 150 specified group stocks, instead of the 10 per cent slapped earlier.
It has also decided to slap 15 per cent margin on all outstanding purchase transactions in the specified group stocks, carried forward from settlement ending June 26 to settlement beginning June 29.
BSE has further decided to allow the brokers to carry forward an aggregate position of Rs 20 crore consisting of Teji badla, share badla and Mandi badla from one settlement to another as at present. However, the purchase or sale positions carried forward from one settlement to another settlement would not be allowed to exceed Rs 15 crore mark, within the overall ceiling of Rs 20 crore. The above limits wouldcome into force from June 26.
BSE has also decided to impose a limit of Rs 5 crore on carry forward business in any individual scrip within the overall limit of Rs 20 crore, from July 6.
