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What does T1 above the shares I've bought in Zerodha Kite mean?

Indian stock exchanges use the rolling settlement method. Rolling settlement is the process of settling security trades on successive dates so that trades executed today will have a settlement date one business day later than trades executed yesterday. This contrasts with account settlement, in which all trades are settled once in a set period of days, regardless of when the trade took place.

In India, the settlement time for equity is T+2 days, which means if you have purchased shares on a Monday, they will be added to your Demat account by Wednesday evening.

So until then, it will show up in your holdings as T1 quantity i.e. settlement yet to be completed.