The National Stock Exchange (NSE) has announced that it will hold a special live trading session on Saturday, March 2, 2024. This session will involve an intraday switch over to the disaster recovery (DR) site. The purpose of this session is to enhance the resilience of the exchanges in case of unforeseen incidents that may disrupt their operations.
In a circular released on February 14, the NSE stated, “Members are requested to note that Exchange shall be conducting special live trading session with intra-day switch over from primary site to disaster recovery site on Saturday, March 02, 2024 in equity and equity derivatives segments.”
Key Details of the Special Live Trading Session
The market infrastructure intermediaries (MIIs), as mandated by the Securities and Exchange Board of India (SEBI), are required to perform a switchover to their DR site as part of their business continuity plan. The session will be conducted in two phases:
- A 45-minute session starting at 9:15 am.
- A second session starting at 11:30 am and concluding at 12:30 pm.
During the March 2 session, futures contracts can fluctuate within a five per cent operating range. Securities in the Future and Options (F&O) segment will have upper and lower circuit limits of five per cent, while those with a two per cent limit will maintain their existing circuit limit. This measure aims to prevent excessive volatility and maintain market stability.
Significance of the Special Session
The special session, initially scheduled for January 20, was postponed due to the Ram Temple consecration ceremony in Ayodhya. Equity benchmarks Sensex and Nifty 50 ended positively for the second consecutive session on Wednesday, February 14.
Sensex closed 268 points, or 0.37 per cent, higher at 71,822.83, while the Nifty 50 settled at 21,840.05, up 97 points, or 0.45 per cent. This positive trend was driven by gains led by select heavyweights such as SBI, Reliance Industries, and Axis Bank, amidst mixed global cues.
