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What is an index-based market-wide circuit breaker system?

An index-based market-wide circuit breaker occurs when the index (Nifty 50 or BSE Sensex) moves 10%, 15%, and 20% (either way).  The market-wide circuit breaker is triggered by the movement of Nifty 50 or BSE Sensex, whichever is earlier. When the circuit breakers are triggered, there will be a trading halt across all equity and equity derivative markets nationwide. Check out the details here.
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