A condition of the stock market in which not only inexperienced investors, but also sturdy bulls, take fright and start selling. It may be caused by sudden unfavourable news or rumour, or a Random Walk by shares downwards, or simply, in bear market conditions, the absence of financial institutions from the market.

This is a Latin term and it means, "having equal rights". When shares (bonus or otherwise) are issued pari passu with existing shares it means that the new shares would be equal to and have identical rights with the existing shares.

Passed Dividend

A company is termed to have "passed dividend" if it has not declared its usual annual dividend. P/E Ratio or Price-Earnings Ratio: An indicator of how highly a share is valued in the market. Arrived at by dividing the price or a share by the earnings per share (EPS).

The price of an option (call or put) contract, determined in the competitive market place, which the buyer (holder) of the option pays to its seller (writer) for the rights granted to the former by the option contract.

An entity responsible for the settlement of a trade is deemed to be a participant. Every order in the trading system has a participant associated with it.

A time period in the trading day for the Normal market. Trading members are allowed to enter orders during this period. These orders in the system take part in the algorithm for the calculation of the opening price during this period.

All orders received on the system are sorted with the best priced order getting the first priority for matching i.e. the best buy order matches the best sell order. Within similar priced orders, they are sorted on time i.e. the one that came in early gets priority over the later one.

Pay-in day is the designated day on which the securities or funds are paid in by the members to the clearing house of the Exchange.

Pay-out day is the designated day on which securities and funds are paid out to the members by the clearing house of the Exchange.

Price bands set te upper and lower limit within which a security price can fluctuate on a given day/settlement. In case of intra-day, the price band is determined over the closing price of the previous day and in the case of intra-settlement, the price bands are determined over the closing price of the last day of the previous settlement cycle. Orders outside these price bands will not be executed by the system.

Price rigging
When persons acting In concert with each other collude to artificially increase or decrease the prices of a security, that process is called price rigging.

Portfolio
The group name for the entire collection of investments belonging to an investor or held by a financial organization such as a bank, pension fund or investment trust.The idea of a portfolio is that you should invest in a diversifed selection of investments. Don't have all your eggs in one basket

Price sensitive information
Price sensitive information is information about a company's trading or other affairs which would, if generally known, be expected to have an influence on its share price.

Primary market
a place where money is raised by companies to pay for expansion or pay off existing investors.In the futures markets, the primary market is the main underlying market for the financial instrument on which the futures contract is based.

Print/Report Circuit

This is a virtual circuit through which the system can download report data to all workstations. In this mode, the system does not await the response from the workstations.

P/E Ratio or Price-Earnings Ratio:

An indicator of how highly a share is valued in the market. Arrived at by dividing the price or a share by the earnings per share (EPS).

Put Option
The right to sell stock at an agreed price at or before a stated future time. Contrast this will call options.

Price risk

It arises from the variability of prices of shares in the market. The share prices can move either way and are extremely volatile. The risk arising from the fact that your portfolio value may decrease or increase is the price risk.