Overview
- SEBI chairman Tuhin Kanta Pandey reaffirmed Thursday that the Closing Auction Session, introduced in August to set end‑of‑day stock prices, will remain the market’s closing mechanism.
- Pandey said MSCI told regulators that its recent India rebalancing under CAS went smoothly, a point SEBI used to support keeping the auction framework.
- Indian benchmarks saw sharp final‑minute moves on Thursday with the Sensex jumping over 1,100 points in two minutes before settling about 138 points higher and the Nifty rising sharply then closing up about 46 points.
- SEBI has started reworking the methodology for calculating derivatives’ settlement prices and will publish a consultation paper proposing technical changes to how expiry-day close prices are determined.
- Market participants have flagged last‑minute order imbalances and thin liquidity on expiry days since CAS began and exchanges, index providers and traders will be watched closely as SEBI finalises the settlement rules.