Sensex up over 0.60% while Nifty falls after SEBI cas
On Tuesday, the Sensex went up over 0.60% while the Nifty 50 dropped over 1%, a pretty odd split for India's top stock indexes.
This came right after SEBI rolled out a new Closing Auction Session (CAS) on August 3, which had caused a big spike in Nifty's closing numbers the day before.
Vipin Kumar, AVP-Research at Globe Capital Market said today's moves suggest things are settling down after Monday's surprise.
SEBI CAS sets F&O closing prices
SEBI introduced the CAS to make stock prices more transparent and less prone to last-minute manipulation.
It runs for 20 minutes at the end of trading (3:15pm to 3:35 p.m.) and sets official closing prices for F and O stocks based on real orders, not just last-second trades.
On day one, 515 trading members joined in, placing orders tied to 56,773 unique PANs, so it got off to an active start.