Can shares be bought on one exchange and sold on another?
Shares can be bought on one exchange and sold on another only from the next day, i.e., on T+1. The exit order must be placed on the same exchange to square off intraday positions. If the shares held in the Zerodha account are listed on both exchanges, they can be sold on one exchange and bought back on the other. In this case, intraday charges will apply. To learn more about charges, visit zerodha.com/charges#tab-equities.
- 10 shares of Infosys are bought on NSE on Monday. They can be sold on BSE on Tuesday.
- 10 shares of Reliance are bought using margin intraday square off (MIS) product type and have been sold on BSE using MIS. The buy order will not be netted off against the sell order. Instead, a new position will be created. To learn more about product types, see What does CNC, MIS and NRML mean?
- If both the positions are not squared off by 3:20 PM, Zerodha’s risk management team will square off the positions, and an auto square-off charge of ₹50 + 18% GST will be levied.