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<h1>SEBI Updates Rules for Trading Illiquid Scrips: Minimum Two Call Auction Sessions Required Daily.</h1> The Securities and Exchange Board of India (SEBI) has revised the guidelines for trading illiquid scrips through the periodic call auction mechanism. A scrip is classified as illiquid if it has an average daily turnover of less than Rs. 2 lakhs over the previous two quarters and is classified as illiquid across all exchanges. Exclusions apply for scrips with high market capitalization, consistent dividend payments, or profitability. SEBI mandates at least two call auction sessions per trading day, with orders valid throughout the day. Stock exchanges must implement these changes by the next quarter and update their regulations accordingly.