I have bought some shares in MOSt NASDAQ-100 ETFs through ICICI Demat account. It was always a limit order, since ICICI did not allow me to place a market order, citing low volume as the reason.
But today (June 29th 2018), I was not able to place a buy order for this ETF with my ICICI account. The last tradeed price is 566.31. I tried placing the orer at 567, 566.31, etc… I keep seeing this error
Price entered by you is beyond the price range permitted by exchange.:Please modify your price or visit "Stock List".
So I am wondering how ETF trading happens in the exchanges? Is a new ETF stock created whenever a new order is placed and no sellers are there? Any info on this aspect will be helpful.