Positions with unsettled balances

Wed, 20 May 2026 00:00:00 +0000

Positions with unsettled balances include T+1 holdings (recently bought, not yet settled) and positions whose proceeds are pending settlement. These are treated differently for margin calculation purposes.

What’s unsettled

Activity	Settlement period
Equity CNC buy	T+1 (or T+0 if eligible)
Equity CNC sell	T+1
F&O daily MTM	Same evening
Pledged collateral	T+1 to T+2 for un-pledge
Cash transfer	UPI instant; NEFT 30 min

Effect on margin

Unsettled positions:

T+1 holdings: Quantity counted in Holdings but cannot be pledged or sold via standard CNC path same day.
Pending sell proceeds: Cash not in trading account until T+1.
F&O MTM same day: Reflects in margin used real-time.

Common scenarios

Same-day round-trip on T+0 scrip: Both legs settle T+0; proceeds available same day.
Same-day round-trip on T+1 scrip: Buy and sell both T+1; net effect on T+1.
CNC buy + open MTF on same scrip: Complex; multiple T+1 events.
F&O MTM debit: Affects margin used same day.

External references

References

SEBI, T+1 settlement framework, sebi.gov.in.
NSE Clearing, Settlement schedule, nseclearing.com.
Zerodha, Settlement and margin treatment, zerodha.com.