BSE fixes 3,100-pt Sensex trigger for trading halt in Q1 2012

The Bombay Stock Exchange (BSE) today said trading would halt for the day if the benchmark Sensex moves up or down 20%, or 3,100 points, in a single day for the January-March quarter.

According to a statement by BSE, market circuit breakers would be triggered at three stages of the index movement either way at 10%, 15% and 20%.

It further said that market wide circuit breakers would be triggered by the movement of either Sensex or the NSE S&P CNX Nifty whichever is breached earlier.

In case of a 10% or 1,550 points movement either way before 1 pm, there would be a one-hour market halt. If it is after 1 pm but before 2.30 pm, the halt is for half an hour. There will be no trading halt, if Sensex or Nifty moves 10% up or down at or after 2.30 pm.

In case of a 15% movement or 2,325  points in index before 1 pm,  there will be a two-hour market halt. If the 15% trigger level is reached on or after 1 pm but before 2 pm, there will be a halt of an hour. If this trigger is reached on or after 2 pm, the trading will be halted for the remainder of the day.

Further, in case of a 20%, or 3,100-point, movement of the index, the trading will be halted for the remainder of the day, it said.

The circuit breaker brings about a coordinated trading halt in all equity and equity derivative markets nationwide.