Zerodha says 'market orders in index options are blocked until 9:16 am': Here's why

Zerodha says 'market orders in index options are blocked until 9:16 am': Here's why

Low-cost brokerage Zerodha on March 4 said "market orders in index options are blocked until 9:16 am due to expected volatility".

In a notification to its users, the Kite app said "use market protection order instead".

The decision comes amid expectations of massive market volatility due to US-Iran conflict. Circuit breakers were triggered in Korea's KOSPI, which fell 8% in opening trade and later extended losses to 11%. Meanwhile, Indian benchmark indices Sensex and Nifty opened over 2% lower on March 4.

It was the first time since August 2024 circuit breakers were activated on the index.

Indices across Asia fell sharply for the third session in a row as the US-Iran military conflict raised concerns over disruption in oil supplies, which could lead to higher energy costs.

The KOSPI has lost 14% in the last three sessions.

Japan's Nikkei slid 2.5% in a third straight session of losses. Japan and South Korea are major energy importers.