BSE shares are in the spotlight as SEBI is considering a review of intraday position limits in index options. The move aims to curb excessive trading, especially on expiry days, sources familiar with the development told Moneycontrol.
Currently, there’s no strict intraday limit, though exchanges monitor positions at the same levels as end-of-day: Rs 1,500 crore net and Rs 10,000 crore gross. But recent expiry-day trades in Nifty and Sensex often exceeded these limits. For instance, on August 7, Nifty net positions hit Rs 4,245 crore (long) and Rs 5,409 crore (short), while gross positions went over Rs 10,000 crore.
Sebi may raise the net intraday threshold to Rs 5,000 crore, keeping the gross limit at Rs 10,000 crore. On expiry days, exceeding limits could now attract penalties, while non-expiry breaches would only trigger checks. Exchanges would monitor intraday positions at multiple points, including near market close.
The move is aimed at controlling expiry-day market spikes while allowing positions backed by cash or securities.
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