Bombay Stock Exchange to discontinue stop loss orders with market conditions effective from October 9, 2023 onwards.
As per the BSE, the investors will be barred from using the stop loss feature i.e. SL-M in equity, derivatives such as equity, currency, and commodity from October 9, 2023. This decision has been taken to prevent erroneous order placement.
Earlier on September 8, BSE index SENSEX had witnessed a freak trade in the 67,000 call option.
The announcement by the exchange comes in days after a freak trade in Sensex call options of 67,000 strike sent the premium of the respective strike shooting from Rs 4.30 to Rs 209 and then falling back to Rs 5 within seconds.