875 stocks freeze at lower circuit on the BSE

A sharp sell-off in small-sized companies witnessed one out of every five traded stocks locked at the lower circuit on the BSE.

Of the 3,844 stocks being traded on the BSE, as many as 875 or 22 per cent were locked in the lower circuit levels in Monday's intra-day trade and there were no buyers on these counters, exchange data showed.

A sharp sell-off in small-sized companies witnessed one out of every five traded stocks locked at the lower circuit on the exchange. 

Of these 875, as many as 79 per cent or 694 stocks are from the BSE XT (333), X (166), T (141) and Z (54) group. The equity securities of companies that are only listed/traded at BSE and satisfy certain parameters are classified into separate sub-segments called "X", and "XT".

At the time of review, any securities falling in trade-for-trade segment ('DT' or 'T' groups) are classified under "XT" sub-segment, according to the BSE. While, stocks clubbed in the ‘Z’ category are those which fail to comply with the exchange’s listing requirements or may have failed to redress investor complaints.

At 01:20 pm, the S&P BSE Smallcap tanked 4.3 per cent or 1,299 points to 28,668, while S&P BSE Midcap indices slipped 3.5 or 879 points at 24,073 on the BSE. In comparison, the S&P BSE Sensex down 2.3 per cent or 1,367 points at 57,669 on weak global cues amid rising concerns about inflationary pressures, surging coronavirus cases and prospects of interest rate hikes.

Total 77 stocks from the S&P BSE Allcap index were locked in the lower circuit. The list includes Adani Green Energy, Nahar Spinning Mills, JBM Auto, Kopran, Tanla Platforms, Deepak Fertilisers, Tejas Networks and GMDC. Most of these stocks had seen a sharp run-up in the past one and a half months.

A total of 19 stocks—Gokaldas Exports, India Nippon Electricals, Coffee Day Enterprises and Latent View Analytics--were locked in the 10 per cent upper circuit on the BSE. The remaining stocks were frozen at the 10 per cent lower circuit, data showed.

Security Group	Upper Circuit	Lower Circuit	Total
A	0	13	13
B	12	136	148
M	11	22	33
MS	0	3	3
MT	0	4	4
P	6	2	8
R	0	1	1
T	16	141	157
X	35	166	201
XT	127	333	460
Z	28	54	82
Total	235	875	1110