Nifty jumps 300-plus points, hits 23,000 as SEBI considers tweaks
Business
On Tuesday, the Nifty index shot up more than 300 points in less than a minute during the closing auction, briefly crossing 23,000 before dropping back.
This sudden spike has everyone talking about market volatility and has Sebi looking to tweak how things work on expiry days.
SEBI may adopt 30-minute VWAP pricing
Sebi is considering pausing the current closing auction method for pricing derivatives and instead using the volume-weighted average price from the last 30 minutes of trading, for at least a year.
The move comes after both Nifty and Sensex saw big swings during Tuesday's weekly expiry-day session, renewing concerns over CAS volatility on expiry days.
Official changes are expected by the end of this month.