SEBI launches CAS, stock auction prices drift 0.5% to 1%
Business
SEBI just rolled out its new Closing Auction Session (CAS) on August 3, hoping to set official closing prices and make the stock market more transparent, something that matters as passive funds now play a bigger role in India.
But early days have been rocky, with auction prices drifting 0.5% to 1% from regular trading and not many traders jumping in yet.
SEBI says no manipulation, plans tweaks
SEBI says there's no sign of manipulation behind these hiccups, just markets being cautious.
They're already working on tweaks to boost participation and smooth things out, like improving broker tools and fixing timing issues with derivatives trading.
The goal is for CAS to become a reliable way to close the market fairly as things settle down.