Short answer

Stop-loss market (SL-M) orders are blocked for all instruments traded on BSE in the equity, equity derivatives (BFO), currency derivatives (BCD), and commodity derivatives segments, as the exchange has discontinued them (WEB).

The exchange implemented this change to safeguard against the placement of erroneous orders and to prevent orders from being executed far away from the current market price. However, you can use stop-loss limit (SL) orders as stop-loss market (SL-M) orders.

SL-M orders placed on BSE are rejected with the following error: