π’ SEBI's new auction system starts with drama
SEBI's Closing Auction Session (CAS) had a volatile first week, leading to sharp end-of-day swings and trader confusion. This rollout happened on Monday, August 3, by SEBI for stocks with listed derivatives on the NSE. The initial week saw unusual movements and a visible divergence between the Sensex and Nifty indices. SEBI insists the disruption is temporary and the reform is permanent to align with global standards. The divergence is structural because the BSE still uses the old VWAP method for closing prices. π