If I sell today, will be shares be debited today EOD from my demat account?
What happens to the shares then?
Will it go the brokers’ pool account or directly to the exchange/or the buyers demat account?
I understand delivery is on T+2 day settlement cycle. So where will the share stay by tomorrow’s time.
When it will move to the buyer’s (who bought from me) demat account?
Once you sell the shares, from the time you sell until the payin (settlement) date - the broker can debit the shares at anytime.
This is because once you’ve sold, you lose ownership of the stock and it’s the brokers responsibility to ensure the shares are delivered to the Exchange. The broker can also choose to do an early payin (settlement on T+1 instead of T+2) to the Exchange, which is why he can debit it anytime from the time you’ve sold it.
Once debited, will it go to the pool account or to the exchange?
Goes to the pool first from where Exchanges swipe shares.
How would that work when I have sold on the day prior to the interest record date (in case of NCD)? Will I get the interest or the buyer?