Special Live Trading Session On Saturday: How To Trade On BSE, NSE On May 18: Big Update By Zerodha, Upstox

Indian stock market will be open for an extra day this week due to BSE and NSE conducting a special live trading session on Saturday, May 18. This special live session is an intraday switchover from from Primary site to the Disaster Recovery site, in compliance with Sebi regulations. Accordingly, brokerages have been informed about the special session, and leading brokers like Zerodha and Upstox have intimated to their investors related to their buying, selling, and settlements on that day.

Both equity, equity derivatives, and futures & options markets will be open on this Saturday.

Timings of trading on BSE and NSE on May 18:

For Capital Market: Trading Session-1 on the primary site:

- Morning Block Deal Window Session-1 open time: 08:45 hours

- Morning Block Deal Window Session-1 close time: 09:00 hours

- Pre-Open open time: 09:00 hours - Pre-Open close time: 09:08 hours

- Normal Market Open Time: 09:15 hours - Call Auction Illiquid session 1 open time: 09:30 hours

- Call Auction Illiquid session 1 close time: 09:30 hours - Normal Market close time: 10:00 hours.

The second part of the trading session will be on Disaster Recovery site:

- Pre-Open open time: 11:15 hours

- Pre-Open close time: 11:23 hours

- Normal Market open time: 11:30 hours

- Call Auction Illiquid session 2 open time: 11:45 hours

- Call Auction Illiquid session 2 close time: 12:00 hours

- Normal Market close time:12:30 hours - Closing Session open time: 12:40 hours

- Closing Session close time: 12:50 hours - Trade Modification end time: 13:00 hours.

Also, for the futures and options segment: under the primary site, the normal market open time is 09:15 hours, and the close time is 10:00 hours as part of session 1. For the DR site, which is the second session for F&O as well, the normal market open time is 11:30 hours, and the close time is 12:30 hours. The trade modification end time is 12:40 hours.

Upstox Update On Special Live Trading Session:

The leading online broker informed its investors that any open orders not executed by the end of the first session would be cancelled and wouldn't be carried forward to the next session.

Further, Upstox intimated about settlement details in stocks, derivatives and F&Os with 18 May being a settlement holiday and 20 May being a trading holiday:

- Credits from the F&O segment, intraday profits, and proceeds from sell transactions on 17 May will not be available for trading; they will be settled on 21 May 2024

- Stocks bought on 17 May 2024 will not be available for selling on 18 May 2024 but will be visible in your holdings

- SIP (Systematic Investment Plan) orders on Upstox scheduled for 18 May will be postponed and processed on the next trading day, 21 May

- Standard Fund Withdrawal requests placed after 8 AM on 17 May will be processed on 21 May

Further, Upstox said, brokerage charges will be applicable as usual during this special session. Also, it added, As per the Exchange, during this switch, there could be a possibility of executed trades getting cancelled by the Exchange. Details of such cancelled trades will be notified to you by EOD.

Zerodha Update On Special Live Trading Session:

Zerodha on its website updated investors related to the transactions carried on their platform on May 18. This is intimated as per the instructions received from BSE and NSE. Here's what Zerodha said:

- Any open orders not executed by the end of the first session will be cancelled and won't be carried forward to the next session.

- Currency and Commodity (MCX) markets will stay closed.

-MIS/CO (Intraday) orders will be blocked for both sessions.

- Market orders in all segments will be blocked for the first two minutes of both sessions.

- BTST (T1 sell) orders for T2T stocks will be blocked.

- GTT orders will not be triggered.

- AMO market orders will not be allowed.

- AMO orders placed after markets on Friday, 17th May 2024 will be triggered on Saturday, 18th May 2024.

- SIP orders on Kite will not be executed during the Special trading session. The scheduled SIP orders on 18th May will be placed on the next trading day.

- Profits and credits received from equity trades or exiting positions in the derivatives segment (F&O and CDS) on 17th May 2024, will be available for withdrawal on 21st May 2024 by EOD.

- The CDSL system to authorize stocks and mutual funds through eDIS won't be available from 10 AM to 11:15 AM.

- Support lines will be operational from 9 AM to 2 PM.

Zerodha said, "We have been informed by the Stock exchange through a circular (point 6), that there is a possibility of executed trades getting cancelled, during the transition phase of switching from the primary to the DR site. Should such a situation occur, your closed positions during the first session will be reopened after which you will need to exit the position again in the second session."

Major guidelines for investors notified by BSE and NSE for the special live trading sessions:

1. All securities (including those on which derivative products are available) will have a maximum price band of 5%. Securities already in the 2% or lower price band, shall continue to be available in the respective bands.

2. Price bands of 5% will be applicable on all close-ended Mutual Funds.

3. All futures contracts shall have a daily operating range of 5%.

4. No flexing of securities or futures contracts shall be applicable on that day.

5. The price band for Equity segment and Futures contracts which will be applicable at the start of the day at DC shall be applicable at DR too. Any changes in price bands of options contracts due to market factors up to the close time at the Primary site would be carried forward to the Disaster Recovery site.

This is part of BSE and NSE's compliance with Sebi's framework for a Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) for stock Exchanges.