Can I buy and sell a stock in BSE & NSE on the same day? Would it be an off-set leaving me with no open position?

No you can’t do it.

But if you are holding that stocks in your DP you can do it.

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Hi There…You could take such a position with Futures…

Eg. Buy RIL Futures for 1080 at BSE and Sell at 1083 on NSE…Though such opportunities are rarely seen…also…take heed of the expense (in the form of commission & Taxes)

If you in BSE and sell in NSE, you will have two open positions.

One will not cancel each other.

You need to close those separately by making 2 separate counter-orders,one for BSE and another for NSE to close your positions.

Total it makes 4 orders to close your position.

Edit:

Example, you

  • BUY 100 shares of Stock ABC for 310 rupees in BSE
  • SELL 100 shares of Stock ABC for 314 rupees in NSE

You think since you have bought 100 shares and sold 100 shares of same stock ABC, your positions are canceling each other.

But this is not the case, since it is not allowed to buy from one exchange and sell in another exchange (for closing your position in intraday), you will actually have done two different trades. You can sell in any exhange if you have it in your demat account. Since the 100 shares you purchased in BSE will come only to your demat account by T+2 days, you are not allowed to Sell 100 shares in NSE on same day.

  • BUY 100 shares of Stock ABC for 310 rupees in BSE
  • SELL 100 shares of Stock ABC for 314 rupees in NSE
  • SELL 100 shares of Stock ABC for 290 rupees in BSE
  • BUY 100 shares of Stock ABC for 291 rupees in NSE

In order to close these trades, you need to again do the counter (means opposite) orders to close your position (as shown above). You net profit will be [(290-310 = 20 rupees loss in BSE) and (314-291 = 23 rupees profit in NSE)

In net, 23 rs profit - 20 rs loss = 3 rupees profit.

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@AstroGuru, Please come again, I mean please explain in detail, din’t get what you said.

I have replied in the answer itself. Have a look

Hi @AastroGuru, Nicely explained. I want to know some additional things regarding this issue. Suppose, I am holding 100 shares of stock ABC @50 in my demat account for more than one year. And i did the following trades,

  • BUY 100 shares of Stock ABC for 100 rupees in BSE

  • SELL 100 shares of Stock ABC for 105 rupees in NSE

Now what will be the physical steps.

  1. Does my demat account get debited due to the second order and credited due to the first?

  2. Do I have to give DP charges for the second order?

  3. Have I exited from my long term investment and made a fresh entry at this level (100) or I just completed some intraday trades?