Indian stock market opened in morning with upper circuit of 15% and was declared halted for 2 hours. Market was assumed to open at 11:55 AM.
Market opened for 1 minute at 11:55 AM and hit the upper circuit of 20% and was declared closed for today.
By the end of today’s trading session:
Sensex : 14284.21 (+2110.79 Points + 17.34% up)
Nifty : 4323.15 (+651.50 Points + 17.74% up)
What is upper circuit? Why market closed 1-2 hour?
It is a system to curb excessive speculation in the stock market, applied by the stock exchange authorities, when the index spurts or plunges by more than a fixed limit. Trading is then suspended for some time to let the market cool down. If the market changes more than 10%, trading is halted for one hour, more than 15% trading is suspended for 2 hours.
[...] Now Indian Stock Market is halted for the day. See our Post Indian Stock market closed for a day, hits upper circuit of 20% . [...]