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Media Release
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SURVEILLANCE MEASURES AT BSE BSE has, as a surveillance measure, imposed Special Margin in 189 scrips. The margin rates of these scrips were reviewed on Saturday to be made effective from Monday, January 3, 2000 and rates of margin have been increased on the basis of closing price on Thursday, December 30, 1999. Keeping in view the increase in the share price particularly in the case of finance and IT Companies BSE has increased the Special Margin (in some cases including of AVM) to 50% wherein price is not in accordance with the fundamentals of the company or the corporate news emanating from such companies. The Exchange has further imposed Special Margin on 17 scrips with effect from January 4, 2000 raising the total number of scrips under Special Margin to 206. Special Margin is in addition to Daily Margin (at the rates applicable) and the Additional Volatility Margin that a scrip may attract. Further, 363 scrips are attracting Additional Volatility Margin for the Settlement No. 42/1999-2000 commencing from January 3, 2000. BSE has also reduced circuit filters from their normal levels in another 16 cases w.e.f. January 4, 2000, raising the total number of scrips under reduced circuit filter to 130 scrips. The circuit filter is reduced by the Exchange wherever there is a price rise on low volumes. These measures are taken by the BSE to safeguard the interests of the investors and to protect the safety and integrity of the market. S.T. Gerela January 4, 2000 |
