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BSE, NSE shift 8 liquid stocks to trade-to-trade mode

Our Bureau

Mumbai , Sept 24

IN an effort to curtail excessive speculation, BSE and NSE have decided to put eight liquid stocks under traded-to-trade segment from Friday.

The eight stocks that have put in the trade-to-trade segment are - Global Trust Bank, Himachal Futuristic Communications Ltd, Pentamedia Graphics, SSI, GTL, Kopran, Aftek Infosys and Lupin Ltd. In addition, BSE has put Silverline Industries stock also in this segment.

BSE and NSE informed its members that to ensure market safety and integrity following a meeting with the Securities and Exchange Board of India (SEBI) and to safeguard the interest of the investors it has been decided to shift trading in these stocks to trade-to-trade basis from September 26.

This notice had a direct impact on the stock price of these stocks as all of them fell sharply in today's trading. For instance, the price of HFCL on BSE fell by 19.85 per cent at Rs 22, Lupin was down by 7.75 per cent at Rs 437.45, Global Trust Bank declined by 12.20 per cent at Rs 20.15, Pentamedia Graphics closed at Rs 7.82, down 16.54 per cent.

Other stocks put in the trade-to-trade segment also closed lower. SSI was down by 16.79 per cent at Rs 111.25, Kopran closed at Rs 60.40, down 9.99 per cent, GTL closed at Rs 65.05 down 11.01 pert cent, Aftek Infosys fell by 283.40, down 19.41 per cent and Silverline Technologies closed at Rs 5.53 down by 9.64 per cent.

Decision to shift these stocks to trade-to-trade segment has been taken as exchanges observed that there has been recent spurt in volumes of certain stocks and the decision is preventive as part of the surveillance measures.

The notice also said that the members were requested to note of it and take adequate precautions, as the settlement would be done on a trade-to-trade basis and no netting of positions would be allowed.

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