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Stocks In Action On Change In Price Bands Effective December 7, 2021
Indices in trade on December 7, 2021 are trading firm after a broad based sell-off on the previous trading session. Nifty is trading at day's high at 17,109, while broader markets have also been gaining by up to 0.9 percent.Nifty Bank is also up by close to 2 percent with buying in all of the counters.
Meanwhile, the NSE circular dated December 6 on change in price bands effective December 7, 2021 said "In pursuance of Capital Market Segment Regulation Part A, 2.5, the price bands for securities with effect from December 7 will be as under:
| S. No | Price band | No. of securities | Securities |
|---|---|---|---|
| 1 | 2.00% | 1 | as per Annexure I |
| 2 | 5.00% | 420 | as per Annexure II |
| 3 | 10.00% | 198 | as per Annexure III |
| 4 | Noband' | 191 | as per Annexure IV |
| 5 | 20.00% | 1202 | Securities other than in Annexures I to IV |
| 6 | 40.00% | 1 | Securities other than in Annexures I to IV |
| Total | 2013 |
(*securities on which derivative products are available shall continue to have daily operating range of 10 %.)
"Price bands of 10% (either way) will be applicable on all close ended Mutual Funds. The list of securities whose price bands have been revised is given at Annexure V. Members may also note that price band for the above securities in Limited Physical Market shall besame as that applicable in the normal market", added the circular.
Likewise some of the stocks that reacted to the price band revision are given as below:
| Stock | Gains seen last as on December 7, 2021 (in %) | Day's high price |
|---|---|---|
| HFCL | 4 | Rs. 84.2 |
| Uttam Sugar | 3 | Rs. 169.95 |
| Bright Solar | Trading flat | Rs. 5.1 |
| Gateway Distriparks | 1 | Rs. 272.75 |
| Gujarat Alkalies | 1 | Rs. 647 |
| Gokaldas Exports | 1 | Rs. 277.3 |
| Newgen Software | 2 | Rs. 574 |
The stock exchanges have set price band limits in respect of all of the securities. As implied, the exchange shall not be accepting orders for securities if they are made breaching the minimum and the maximum set out price range. These price bands and circuit filers precisely help in curbing massive buying or selling in shares and thus importantly check on panic selling.
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