Circuit limits of stocks

[Srinivas]

@Spaceship

1- Please explain why these banking stocks were not locked in circuits despite HUGE gain.

The stocks which go above 20% are those traded in the derivatives segment. Explained in the link below:

Are there daily dynamic price bands for Futures and Options?

I assumed F&O has no circuit limits, because I’ve seen Futures stocks go up more than 20% in a day. Under what circumstances are the price bands relaxed and increased?

@Spaceship

2- If stock(s) are locked in circuit, are they temporarily blocked for intraday or they get locked for entire day?

This depends on the buyers and sellers. Stocks usually remain at circuit levels after reaching it but there are also rare instances where a stock can start to trade again on the same day.

@Spaceship

3- How can we be then held responsible if our stock gets locked in circuit & we are unable to square off our intraday position ?

Your position is your responsibiliy. You have to ensure you place an SLM stoploss for your position so if the trade goes against you, your stoploss is triggered and your position is squared off at market price before the circuit is hit.
Yes, if you have a sell position that wasn’t squared off before market close, then the exchange will buy these shares back from the auction market and hand it over to the person who bought it from you. Auction penalty will apply.