BSE resets circuit limit of Gitanjali Gems, 7 others

To rein in excessive volatility, top stock exchange BSE today tweaked the circuit limit for share movement of Gitanjali Gems and seven other companies.
The new limits, effective tomorrow, will ensure stock prices do not go up or down beyond a level during a session.
Circuit filter mechanism is used by stock exchanges to keep excess volatility for a scrip in check. It is the maximum fluctuation that is allowed in a stock, after which trading in it gets suspended if the permissible limit is hit in either direction.
In a circular, the exchange said it has set a circuit limit of 10 per cent for Gitanjali Gems.

It has also fixed a limit of 10 per cent for Unitech International, Bronze Infra-Tech, Ojas Asset Reconstruction Company and Pioneer Embroideries.
A limit of 5 per cent has also been set for three companies -- Maruti Infrastructure, Mahamaya Steel Industries and SVOGL Oil Gas And Energy.
"Trading members of the exchange are hereby informed that the circuit filters has/have been changed from their existing levels... In the scrips (eight) with effect from September 16, 2016," BSE said.