NSE launches beta version for block mechanism trading
Investors can block specific amount for multiple debit transactions for trading in the stock market through the mechanism
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Investors can block specific amount for multiple debit transactions for trading in the stock market through the mechanism
The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI).
A stupendous run during the last week of 2023 saw benchmark indices giving a strong breakout on the upside and clocking nearly 2% gains.
This rise in retail investors, which can be evidenced through the jump in SIP collection in the last 3 years has directly benefited discount brokers. Currently, discount brokers hold a cumulative market share of ~60 percent, a significant jump from their previous share of ~11 percent in FY18.
The facility is based on the blocking of funds for trading in the secondary market through UPI, and initially, the facility will be optional for investors as well as stock brokers, SEBI had said.