Why is my sell order on BSE rejected with the error message saying CNC sell orders are blocked due to corporate action?
When a stock undergoes a corporate action such as a stock split, the International Securities Identification Number (ISIN) of stock changes. BSE and NSE updates the ISIN on different timelines -
- BSE on the ex-date.
- NSE on the record date, which is 1 working day after the ex-date.
At Zerodha, we update the ISIN of your holdings as per the NSE’s schedule hence if you try to sell your holdings on the BSE on ex-date, the order will fail to execute because of the change in ISIN.
Therefore, we block the CNC sell orders for scrips in BSE on ex-date for the following product types -
Regular orders - Sell CNC will not be allowed on the ex-date
AMO orders - You will not be able to place AMO orders for stocks 1 day prior to the ex-date.
You’ll get the following rejection message and nudge when you place the order -
To prevent encountering this rejection message, you can place your sell order on NSE.
- The rejection message will only be shown if the stock is listed on both the exchanges i.e NSE and BSE and not when it’s listed only on BSE.
- To switch between exchanges while selling, please go through this article .