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<h1>SEBI Introduces Call Auctions for Illiquid Scrips, Expands Pre-Open Session to All Equity Market Scrips Effective April 2013.</h1> The Securities and Exchange Board of India (SEBI) has introduced periodic call auctions for illiquid scrips and extended the pre-open session to all scrips in the equity market. Illiquid scrips will be identified quarterly and traded only through call auctions, with specific criteria for entry and exit. The call auction sessions will last one hour, with a 20% price band. Unmatched orders will be purged, and penalties imposed for certain trades. The pre-open call auction session will apply to all active exchanges and scrips, with price bands matching the normal market. These changes take effect on April 1, 2013.