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16 Oct 2026, 04:16 PM
Changes to Closing Auction Session (CAS) from December 7, 2026.
SEBI has announced changes to the Closing Auction Session (CAS), market closing timings, and F&O settlement methodology. These changes will come into effect from December 7, 2026.
Currently, regular trading in stocks covered under CAS ends at 3:15 PM, followed by an auction session until 3:35 PM. Other stocks continue trading until 3:30 PM, while index and stock F&O contracts trade until 3:40 PM.
On expiry days, the final settlement prices for expiring index and stock F&O contracts are based on closing prices determined through CAS.
Here’s what will change from December 7:
– Index and stock trading hours: Regular trading in all stocks, including those covered under CAS, will continue until 3:30 PM.
– Closing Auction Session: CAS will be shortened from 20 minutes to 10 minutes, running from 3:30 PM to 3:40 PM. Market and limit orders will be accepted from 3:31 PM to 3:36 PM, followed by only limit orders. The session will close randomly between 3:38 PM and 3:40 PM.
– F&O settlement: The final settlement prices for expiring index and stock F&O contracts will be calculated using volume-weighted average prices (VWAP) from the last 30 minutes of regular trading (3:00 PM to 3:30 PM), instead of CAS closing prices.
– Index F&O trading hours: Trading will continue until 3:45 PM on all days. However, on expiry days, expiring index F&O contracts will stop trading at 3:30 PM, while non-expiring contracts can trade until 3:45 PM.
– Stock F&O trading hours: Trading will continue until 3:45 PM on all days, including expiry days.