Announcements

On Account Of Dussehra Tuesday, 24th Oct 2023 is a Trading Holiday. Due to this, keep the following impact in mind:

🔸 Markets will be closed on Tuesday, 24th Oct and trading will resume on Wednesday, 25th Oct

🔸 Standard Fund Withdrawal requests after 8 AM on 23rd Oct, Monday, will be processed on 25th Oct

🔸 Our Instant Withdrawal facility will be available as usual, read more.

🔸 MCX will be closed on 24th Oct. for the morning session. The second session (5 PM - 11:30 PM) will take place as usual

🔸 MCX credit bill of 23rd Oct will not be available for trading on 24th Oct

As per  MCX/TRD/700/2023 and MCX/TECH/694/2023 circular, due to the introduction of a new Commodity (MCX) Derivatives Platform on Monday, 16th October, 2023 note the revised trading hours for orders on 16th October 2023

The Exchange shall restore to the following trading hours from 17th October, 2023:

Keep in mind:

AMO (After-market-orders) will not be available till 10:45 AM, Monday, 16th October 2023.

The Bombay Stock Exchange (BSE) has discontinued Stop Loss Market (SL-M) orders from 9th October 2023. 

What are Stop-Loss Orders?

As the name suggests, Stop-Loss is an order placed to limit your losses. A stop-loss can either be a buy order or a sell order and is the opposite of your open trade. For instance, if you have gone long on (bought shares of) Reliance at ₹2,000, the stop-loss is placed at a level below the purchase price, say ₹1,950 or ₹1,900. And if you have gone short (sold), say Nifty Futures at 18,000, the stop-loss is placed above your selling price, could be 18,100.

How will this impact traders?

• 🔹 You won’t be able to place any Stop-Loss Market Orders in BSE Equities, Futures, Options, Currencies  
• 🔹 Cover Orders (CO) where the second leg is a Stop-Loss Market Order will also no longer be accepted
• 🔹 You can continue placing Stop-Loss Limit Orders instead

Why is BSE taking this step?

To resolve the occurrences of frequent freak trades, BSE has decided to discontinue SL-M orders.
A "freak trade" refers to an unusual or unexpected trade that deviates significantly from the typical market price movements.  It can cause confusion and panic in the market, affecting other traders and the overall stability of the market.

Positive responses from the trading community:

Market experts and professionals have welcomed this decision, stating that it will be beneficial for small and retail traders. The discontinuation is also in line with National Stock Exchange (NSE) decision to discontinue SL-M orders in September 2021. Traders are encouraged to use Stop Loss Limit (SL-L) orders as an alternative to SL-M orders. An SL-L order only executes at a specified price within a given range, allowing traders greater control and precision while trading.

As per Exchange circular no. 20230929-21, Shreyas Shipping & Logistics Ltd. has issued a Withdrawal of their Buy-Back offer from Tuesday, 3rd October 2023 to Monday, 16th October 2023.

What does this mean?

An "Offer to Buy – Withdrawal Offer" is a situation where a company after making an offer to buy back shares decides to withdraw that offer. This could happen due to various reasons - including changes in market conditions, inability to meet financial or other conditions stipulated in the offer, regulatory issues, or a strategic change in decision by the bidding entity.

How does it impact you?

If you wish to withdraw your participation in the ‘Offer to Buy’ corporate action done by Shreyas Shipping & Logistics Ltd. please email us before 16th October at support@upstox.com.

Our operating hours are 8 AM to 5 PM on all trading days.

As per SEBI's circular, all brokers need to settle accounts of all clients on the first Friday of every quarter i.e. October 2022, January 2023, April 2023, July 2023, October 2023 and so on. If the first Friday is a trading holiday, then such settlement shall happen on the previous trading day.

What does this mean

• 🔸 This will have no impact on your existing orders, holdings or positions 
• 🔸 All un-utilised funds from your Upstox account will be transferred back to your registered bank account by Friday, 6th October 2023
• 🔸 However, due to the large volume of transactions on 6th October there might be a delay from the bank in receiving your funds. Don’t worry, in this case you will receive your funds within 2 working days

What should you do

• 🔷 For uninterrupted trades, keep your Upstox account funded before trading starts on Monday, 9th October 2023
• 🔷 You can transfer funds from your registered bank to Upstox via NetBanking, UPI, Google Pay or NEFT/RTGS/IMPS. 
• 🔷 For more detailed steps, click here: How can I transfer funds?
• 🔷 If you’re using NEFT/RTGS make sure you add Upstox as a beneficiary 24 hours in advance (by Friday, 6th October). Beneficiary details are:

For Securities:

Bank Name - HDFC Bank

Account Name - RKSV SECURITIES INDIA PVT.LTD.

Account Number - 00600340067574

Account Type - Current Account

IFSC Code - HDFC0000060

For Commodities:

Bank Name - HDFC Bank

Account Name - RKSV COMMODITIES INDIA PVT.LTD.

Account Number - 15770340022236

Account Type - Current Account

FSC Code - HDFC0000060

We hope this helps you plan your trades better!