When I buy a share of x scrip on an Intraday basis. I hold it till I want to sell it (within the day) or sqaure it off by market closing time. In this scenario who is the stock owned by at the end of the day.
all Intraday positions will be squared off before market closing time. the trader who took will be holding that stock.
So square off happens at 3:20pm if I’m not wrong. In the case when there are only 5 people wanting to buy 1 share each and there are 10 people that are going to get their intraday positions (1 share each )sqaured off. How do things work out in this case. Do 5 of the sellers positions get converted to a delivery ?
In that case the stock would be said to have hit the lower circuit since there are not enough buyers. Yes the 5 sellers would have to take delivery of the shares since there are no buyers left.
Yes, true well in that case have to take delivery,
Thanks Chirag and AlgoGeek ! That clears the doubt.