News on why IRCTC fall down instantly.
The reason behind the sudden slump that started yesterday was a sharp turnaround in sentiment, triggered by a ban on IRCTC stock from the NSE futures and options (F&O) list.
The stock has been banned under the F&O segment as it has crossed the 95 per cent threshold of the market-wide position limit (MWPL).
It may be noted that the NSE is required to put a temporary F&O ban on any stock where the MWPL crosses 95 per cent. The ban remains applicable till the positions on the contract come below 80 per cent.
Experts also indicated that many investors are now booking profits as the shares of IRCTC have jumped sharply over the past month. Having said that, IRCTC stock may not see a massive slump, according to analysts.
According to India Today.
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IRCTC Stock Overview