FinanceHindustan Times
SEBI's new closing price mechanism debuts on NSE, BSE
in5points
SEBI's new Closing Auction Session (CAS) replaced the 30-minute VWAP with a single-price auction for stocks with derivatives.
On debut, Nifty 50 rose 1.6% to 24,774.30 while Sensex gained 0.7% to 78,639.03, a rare divergence.
CAS is used to settle derivatives, price index funds, and value passive portfolios.
The mechanism aims to reduce manipulation of closing prices.
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