SEBI Circular: Closing Auction Session to be Rolled Out in Phases from August 3, 2026
SEBI (Securities and Exchange Board of India) ne aaj stock market ke liye ek naya aur mulyavaan circular jari kiya hai. Bharat ke equity cash segment mein transparency lane aur volatility ko kam karne ke liye ab Closing Auction Session (CAS) ko lagu kiya ja raha hai. Iska phased roll-out 3 August 2026 se shuru hoga.
1. Closing Auction Session Kya Hai?
Abhi tak, India mein share ki closing price pichle 30 minute ke trades ke Volume Weighted Average Price (VWAP) se tay hoti hai. Lekin naye CAS system ke tahat:
-
Market band hone se pehle ek 20-minute ka special session (3:15 PM se 3:35 PM tak) rakha jayega.
-
Is session mein buy aur sell orders ko aggregate karke ek single ‘Equilibrium Price’ nikali jayegi, jo us din ki official closing price hogi.
-
Ye global practices (jaise NYSE aur LSE) ke saath Bharat ko align karega.
2. 3 August 2026 se Phased Roll-out ki Details
SEBI ne is badlav ko dhere-dhere lagu karne ka faisla kiya hai:
-
Initial Phase: Sabse pehle ye sirf un stocks par lagu hoga jo Derivatives (F&O) segment ka hissa hain, kyunki wahan liquidity zyada hoti hai.
-
Modification in Pre-Open Session: Saath hi, SEBI ne 7 September 2026 se Pre-Open Auction session mein bhi kuch badlav (modifications) karne ka nirdesh diya hai.
3. Investors aur Market par Iska Asar
-
Kam Volatility: Market ke aakhri 30 minutes mein hone wali achanak tezi ya giravat par lagam lagegi.
-
Passive Funds ke liye Fayda: Mutual funds aur ETFs jo global indices track karte hain, unhe share ki sahi value par trading karne mein asani hogi.
-
Price Discovery: Isse price discovery mechanism zyada transparent aur fair banega.
