BSE, NSE shift some mid-cap stocks to trade-to-trade

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in a major crackdown to curb volatility into mid-cap stocks have decided to shift large number of scrips to trade-to-trade segment with effect from October 7.

While the BSE has put a list of 463 stocks which have been shifted to trade-to-trade, NSE has decided to shift 88 stocks to the segment.

According to exchange sources, the move is to curb excessive speculation (especially in mid-cap stocks which has witnessed a sharp rally over the past few months).

A senior executive with a domestic broking firm said, "The shift of stocks to trade-to-trade may prove to be a initial jerk and but these things hardly matter in long run."

Meanwhile, the NSE has shifted 32 stocks back to normal settlement, while BSE has shifted 50 stocks back to rolling from TTT.

The decision to this effect was taken at a joint meeting of both the bourses as part of surveillance review and pursuant to the meeting with Sebi, BSE in its circular said.

The exchange, with a view to take measure to ensure market safety, has decided to take the above surveillance actions, the BSE circular stated.