Announcements

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!

Revised date for Id-e-Milad settlement holiday

29th Sept 2023 is a settlement holiday on account of Id-e-Milad. Markets will be OPEN for Trading and Investing.


Keep the following impact in mind:

• 🔸 Stocks bought on 28th Sept will not be available for selling on 29th Sept, but will be visible in your holdings
• 🔸 The credit bill for all segments on  28th Sept will not be available for trading or withdrawal on 29th Sept.
• 🔸 Any fund withdrawal requests placed after 8 AM on 28th Sept will be processed on 3rd Oct.
• 🔸 You can place an Instant withdrawal request between 10 AM to 6 PM on 28th Sept to get your funds within 15 minutes.
• 🔸 To know more, read: How can I withdraw funds from my Upstox account? 

Read more:

What’s a settlement holiday?
Settlement holidays are when markets are open but settlement of your trades do not take place as per the usual T+1 cycle because either the depositaries (NSDL and CDSL) are closed or banks are closed on that day.

How does this holiday impact your trades?
Since the settlement date denotes the final transfer of ownership of shares and not the day you made the trade, a holiday in between causes a delay in the final transfer of shares.

You can also check a list of future settlement holidays here:

Settlement Holidays 2023

If you have any queries, you can raise a ticket on the Upstox Pro Mobile or Desktop app. 

All ITM Natural Gas Option contracts on 22nd September 2023 will be converted into Future contracts. 

To avoid square-off, please maintain sufficient margin before 10.00 PM today.