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Why is intraday trading of stocks using MIS (Long and Short) not allowed on the IPO listing day?

Intraday trading using MIS (Margin Intraday Square-off) is not permitted on the IPO listing day because it's a period of high volatility and risk, and regulators want to avoid excessive speculation and potential market manipulation. Since an IPO involves a newly listed company, its price can be very volatile and uncertain on the listing day, as investors scramble to buy or sell the stock. By restricting intraday trading, regulators hope to minimize the risk of these price swings and ensure a more stable and orderly market. It's basically a measure to safeguard investors and maintain a healthy and fair market.