T+0 settlement starts today: BSE, NSE announce 25 stocks

Mumbai: Settlement of securities i.e. T+Zero settlement will start on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) from today-Thursday, March 28, 2024. Which is starting with the beta version only for limited brokers and 25 scrips. For which BSE and NSE have announced the list of 25 approved shares.

The list of 25 stocks announced by NSE and BSE includes Ambuja Cements, Ashok Leyland, Bajaj Auto, Bank of Baroda, Bharat Petroleum Corporation-BPCL, Cipla, Birlasoft Ltd, Coforge Ltd, Divis Laboratories, Hindalco Industries, Indian Hotels, JSW. Steel, LIC Housing Finance Limited, LTIMindtree, MRF, Nestle India, NMDC Limited, Oil and Natural Gas Corporation-ONGC, Petronet LNG, Samavardhan Motherson International Limited, State Bank of India, Tata Communications, Trent Limited, Union Bank of India and Vedanta. Ltd. is also included.

It is noteworthy that SEBI has decided to implement T+Zero i.e. settlement of shares on the same day of trading with Beta version on optional basis from March 28. While the existing T+1 settlement will continue in the equity cash market. Stock exchanges BSE and NSE will start T+0 (N+0) trading settlement in 25 stocks from March 28, 2024. The timing of this solution session will be from 9:15 am to 1:30 pm.

Prices in the T Plus Zero segment will operate with a price band of 100 basis points above the regular T Plus market price. It will be recalibrated after every 50 basis point movement in the T+1 market in this band. Trading prices of shares under T Plus Zero settlement will not be considered in the index calculation and settlement price calculation. Additionally, closing prices of securities trading in the T+Zero segment will not be disclosed separately.

All investors adhering to the time period, process and risk requirements prescribed by the Market Infrastructure Institutions will be allowed to trade in the T plus zero settlement cycle. The monitoring measures currently applicable in the T plus one settlement cycle will also be applicable to shares in the T plus zero settlement cycle.