Indian Stock Market Sees Unprecedented Boom Following SEBI's New CAS Rules

On Monday, the Indian stock market witnessed a unique boom. At 3: 15 pm, when trading ends continuously, the NSE Nifty was at 24,573; but the last official closing price of the market was recorded at 24, 774.30. This jump of more than 200 points in a very short time surprised many traders. Finally, the Sensex 544.39 point (0.70%) closed at 78, 639.03, while the Nifty closed with a gain of 390.70 point (1.60%). The main reason for this sudden big change is the new Closing Auction Session (CAS) rules of the Securities and Exchange Board of India (SEBI), which came into effect from Monday. Under the new rules, normal continuous trading in F & O stocks ends at 3: 15 pm. After this, a 20-minute Closing Auction Session (CAS) is held from 3: 15 to 3: 35 pm, and according to Suresh Jain, Founder and Research Analyst, SEBI, the single closing price of this sale is decided by buying and selling price today.