NSE, BSE, Groww, other capital market stocks rise up to 3% as Sebi revises CAS framework. What traders must know
SEBI has revised the Closing Auction Session framework, changing market timings, order transfer rules and settlement price calculations for derivatives. The updated rules will take effect from December 7, 2026, with provisions for transferring unexecuted limit and iceberg orders kicking in on February 8, 2027.
Capital market stocks including NSE, BSE, Groww, and Angel One surged by up to 3% following a SEBI circular on the Closing Auction Session (CAS) issued on Thursday evening. The revised CAS framework, introduced in January, received over 20,000 comments during its consultation phase. Under the changes, the CAS will operate for 10 minutes from 3.30 pm to 3.40 pm daily, with three distinct phases.
The first minute is for determining the reference price and transferring orders, the second from 3.31 pm to 3.36 pm for limit and market orders, and the final four minutes only accepting limit orders. Index and stock derivatives will trade until 3.45 pm, with cash market post-close running from 3.50 pm to 4 pm. Settlement prices for expiring contracts will be based on VWAP of constituent stocks' values during the final 30 minutes of the continuous trading session.
Pending orders will be transferred from the continuous session to the closing auction, with unexecuted limit orders generally carried forward and iceberg orders converted to limit orders if within price bands.
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