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Thursday, 1 January 2009

New Circuit Filters for NSE

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

CAPITAL MARKET OPERATIONS

CIRCULAR

Circular No.: NSE/CMO/062/2008

Download No. NSE/CMTR/11835

Date: December 31, 2008

Dear Members,

Sub: Index based market wide circuit breaker for the quarter January 01, 2009 to March 31, 2009.

SEBI vide its circular no. SMDRPD/Policy/Cir-37/2001 dated June 28, 2001 has informed the Exchange to implement index based market wide circuit breaker in compulsory rolling settlement with effect from July 02, 2001. The index based market wide circuit breaker system is applicable at three stages of the index movement either way at 10%, 15% and 20%. In this regard, Exchange has issued circular no. NSE/CMO/0015/2001 (Download No. NSE/CMTR/2657) dated June 29, 2001.

Accordingly the percentages are calculated on the closing index value of the quarter. These percentages are translated into absolute points of index variations (rounded off to the nearest 10 points in case of NIFTY). At the end of each quarter, these absolute points of index variations are revised and made applicable for the next quarter.

On December 31, 2008, the last trading day of the quarter, NIFTY closed at 2959.15 points. The absolute points of NIFTY variation (over the previous day’s closing NIFTY) which would trigger market wide circuit breaker for any day in the quarter between January 01, 2009 to March 31, 2009 would be as under:-

Percentage (+/-)

Equivalent Point (+/-)

10%

300

15%

440

20%

590

For any clarifications, members are advised to contact the following officials:

Mr. Khushal Shah / Mr. Sunil Gawde / Mr. Amit Kursija / Mr Hasnain Khatri at 26598153 / 26598156 / 26598157

For National Stock Exchange of India Ltd.

Suprabhat Lala

Asst. Vice President (Capital Market)


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