NSE Sees Rs 1,276 Cr Turnover in Closing Auction Session; ICICI Bank, HDFC Bank Among Top Traded Stocks

New Delhi: The National Stock Exchange (NSE) recorded a turnover of Rs 1,276.2 crore during the Closing Auction Session (CAS) on Monday, while turnover on the BSE stood at Rs 10.8 crore.

On the NSE, ICICI Bank emerged as the top traded stock in terms of CAS turnover, followed by HDFC Bank, Reliance Industries, Infosys and Bharti Airtel.

Bajaj Finance, Eternal, Tata Consultancy Services (TCS), CG Power and Axis Bank were the other stocks among the top 10 in terms of turnover during the closing auction session, NSE said.

Together, the top 10 stocks accounted for around 30 per cent of the total CAS turnover on the NSE, it added.

Meanwhile, benchmark equity indices Sensex and Nifty ended with an unusual divergence after stock exchanges introduced a new auction mechanism for shares having futures and options (F&O) contracts.

The NSE Nifty 50 ended 1.6 per cent higher at 24,774.30, while the 30-share BSE Sensex settled 0.7 per cent higher at 78,639.03.

The displayed Nifty level was the official closing level, and there was no trading glitch, an NSE official said.

The Closing Auction Session (CAS) in the equity cash segment became operational on Monday, introducing a new auction-based mechanism for determining the closing prices of eligible stocks in a move aimed at making the price discovery process more transparent and robust.

The closing auction mechanism, introduced by markets regulator Sebi, applies only to cash market stocks with derivative contracts, while the existing volume-weighted average price (VWAP)-based methodology will continue for other stocks.

Earlier, closing prices were determined using the VWAP of trades executed during the last 30 minutes of continuous trading.

The auction-based mechanism brings India closer to global market practices, where closing prices are discovered through an auction that aggregates buy and sell interest into a single pool of liquidity.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)