That is because a total ban on short sales has rarely worked in practice. Even as the regulator moves in to curb short selling, it must be remembered that such efforts have rarely paid off in the past. In 2001, India imposed a ban on short sales and that led to a 16% correction in the next 15 days post the ban. In 2008, more than 10 countries imposed a ban on short selling and most of these markets lost between 6-10% in the next fortnight. Even in 2020, there have been cases of ban on short selling with similar results. Of course, when a ban on short sales does not work, why will curbs work? Nearly 130 out of 144 stocks are under the Rs.500 crore MWPL limit. That will limit its efficacy! At the current point of time, it is really doubtful if either of these measures will work when there is absolute contagion in the markets globally.