As per the circular dated 11th March 2022, the National Stock Exchange of India has announced the implementation of Pre-Trade risk control measures with effect from 2nd May 2022. These measures are implemented to create a conducive environment for all market participants and avoid freak trades. The following points will be in effect from 2nd May:

1) Market orders will not be allowed in a contract that has not been traded for the day. 

2) Market Orders shall be allowed to be traded only up to a certain mark-up/down price. 

• The parameters to arrive at the mark-up/down shall be set at 20% of LTP (a minimum of ₹10).
• The Exchange may review and modify the parameter values in future, if required.

3) Market orders are discontinued for multi-leg orders for the F&O segment.

• Clients can place multi-leg orders at Limit Price in the F&O segment.

For more details, refer to this circular.