Introduction of call auction in Pre-open session

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....roposal received from the stock exchanges, it has been decided to introduce call auction mechanism in pre-open session.  2.  To begin with, pre-open session shall be introduced on a pilot basis by BSE and NSE for the scrips forming part of Sensex and Nifty. The list of scrips is placed at annexure 'A'.  In case of any change in the composition of Sensex and Nifty, pre-open session shall be introduced for such incoming scrips. Pre-open session shall also continue for the scips moving out of Sensex and Nifty, though they will not be reckoned for the computation of the index.  3.  The pre-open session shall be for a duration of 15 minutes i.e. from 9:00 a.m. to 9:15 a.m., out of which 8 minutes shall be allowed f....

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....librium price shall be the price closest to the previous day's closing price. In case the previous day's closing price is the mid-value of a pair of prices which are closest to it, then the previous day's closing price itself shall be taken as the equilibrium price. In case of corporate action, previous day's closing price shall be the adjustable closing price or the base price. Explanation: A scenario may arise, wherein; more than one price may have same minimum imbalance quantity. Example on the same is given hereunder: Price  Buy (Qty) Cum. Buy Qty Sell (Qty) Cum. Sell Qty Unmatched  Quantity Vol. tradable 106   0 3000 8000 ‐8000 0 103 2000 2000 3000 5000 ....

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....ill shift to the normal market order book as limit orders at a price as discovered in the pre-open session. 11.  If the price is not discovered in pre-open session then the orders entered in the pre-open session will be shifted to the order book of the normal market following time priority. The price of the first trade in the normal market shall be the opening price. 12.  The current risk management system for cash market shall be applicable to pre-open session. 13.  The following information shall be disseminated during pre-open session: a)  Indicative equilibrium price of the scrip   b)  Indicative cumulative buy and sell quantity of the scrip c)  Indicative Index....

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....his circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully,   Harini Balaji Deputy General Manager 022-26449372 [email protected] Encl: Annexure- I - Scrips eligible for pre-open session Annexure - I Sr.No. Scrips 1 ABB LTD. 2 ACC LIMITED 3 AMBUJA CEMENTS LTD 4 AXIS BANK LIMITED 5 BHARTI AIRTEL LIMITED 6 BHEL 7 BHARAT PETROLEUM CORP  LTD 8 CAIRN INDIA LIMITED 9 CIPLA LTD 10 DLF LIMITED 11 GAIL (INDIA) LTD 12 HCL T....