GRSE Circuit Limit Revised to 10% and Other 15 Stocks Circuit Limit Changes

On Thursday, the Nifty index opened above 22600 and, despite some initial volatility, gained impressive strength as the day went on. The index approached the significant 23000 mark before closing at 22968, up by 370 points or 1.64%.

Bulls Take Charge on Dalal Street

The bulls made a strong comeback on Dalal Street, with benchmark indices reaching fresh record highs. Nifty closed just shy of the coveted 23000 mark amid widespread buying across most sectors, excluding metal and pharma, and disregarding the hawkish Fed minutes. The index posted a record gain, driven by leading sectors such as banking and automotive outperforming the rest.

Market Momentum and Economic Boost

The market remained buoyant, supported by the composite HSBC PMI data for May, which indicated strong economic expansion. Additionally, the early onset of the southwest monsoon provided a much-needed boost to the domestic market, which had been underperforming compared to other emerging markets over the past two months.

Key Changes to Circuit Limits

Friday’s Trading Session Adjustments. As we move into Friday, the last trading session of the week, there are several key changes that market participants should be aware of. Sixteen stocks have had their circuit limits revised, effective from May 24, 2024.

Notable Revision: Garden Reach Shipbuilders & Engineers

One of the notable changes is the revision of the circuit limit for Garden Reach Shipbuilders & Engineers from 20% to 10%. On Thursday, the stock hit an upper circuit of 20%, reaching a new 52-week high of Rs 1,431.10 per share on the NSE. Starting Friday, the stock’s circuit limit will be reduced to 10%.

Other Stocks with Revised Circuit Limits to 10%

Two other stocks, VSF Projects and Intec Capital, will also see their circuit limits revised to 10% from Friday onwards.

Circuit Limit Revisions to 5%

Three stocks have had their circuit limits revised to 5%. These stocks are Bhilwara Technical Textiles, ETT, and Elixir Capital.

Circuit Limit Revisions to 2%

Ten stocks will see their circuit limits revised to 2% starting Friday. These stocks include Kaycee Industries, Securekloud Technologies, Dhanalaxmi Roto Spinners, Sumeru Industries, Vintage Securities, Upsurge Investment & Finance, CCL International, Gokul Refoils & Solvent, J. Taparia Projects, and IFL Enterprises Ltd.

Stay informed about these changes and adjust your trading strategies accordingly to navigate the market efficiently.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.