Aap kya le jaoge
- Purana close ho chuke trades ka ausat tha. Naya woh price hai jahan sabse zyada quantity trade kar sake. Yeh alag tarah ka number hai. Sirf purane ka behtar roop nahi.
- Auction 3:15 pm se 3:35 pm IST tak 4 kadmon mein hai. Equity derivatives 3:40 pm tak. Cash post-close 3:50 pm se 4:00 pm.
- Badlaav hisso mein hai. Pehle sirf derivative contracts waale shares. Baaki securities 30-minute ausat rakhti hain.
- Expiry index contract index ke closing price par settle hota hai. Woh uske shares ke closes se banta hai. Ab uska kuch hissa aise tareeke se hai jo is saal se pehle cash close mein nahi tha.
Asal badlaav kya hai
SEBI circular shuru mein purana tareeka batata hai. Usmein equity cash shares ka close, continuous trading ke aakhri 30 minute ke trades ka volume-weighted average hai. Likhte din yeh sahi tha. Ab kaafi shares ke liye sahi nahi.
2 documents badlaav ki tareekh pakki karte hain. SEBI circular cash segment ka framework 3 Aug 2026 se lagu kehta hai. NSE members notice equity derivatives ka hai. Usi tareekh se wahan matching badlaav live kehta hai. Pehle Saturday mock session tha.
Closing price sirf halka nahi badla. Uski tarah badli. Ho chuke trades ke saar se auction mein mile price par gaya.
Auction price ausat nahi hai
Volume-weighted average ho chuke trades batata hai. Window ka har trade apne price aur quantity ke wazan se shaamil hai. Ho sakta hai ausat par kisi ne trade hi na kiya ho. Kai prices ki jagah 1 number hai.
Equilibrium price alag hai. Pehle orders lete hain. Tab koi execute nahi hota. Phir system woh 1 price dhoondhta hai jahan sabse zyada quantity match ho. Wahi closing price hai. Auction ka har trade usi par hota hai. Kai prices nahi, 1 price.
Price raay se nahi chunta. Circular kram deta hai:
- Jahan sabse zyada volume execute ho sake.
- Kai prices par volume barabar ho to jahan bachi unmatched quantity sabse kam ho.
- Phir bhi barabar hon to reference price ke sabse kareeb.
- Reference price 2 barabar prices ke theek beech ho to reference khud closing price hai.
- Koi equilibrium price na mile to reference closing price hai.
Reference bhi andaaza nahi. Share ke 3:00 pm se 3:15 pm IST ke trades ka volume-weighted average hai. Purane trades ka ausat tareeke ke andar abhi hai. Auction usse naapte hain. Auction kuch na de to wahi fallback hai. Ab woh seedha mukhya jawaab nahi.
Ausat poochhta hai ki pichhli trading ka hisaab kya tha. Equilibrium poochhta hai ki abhi kis 1 price par sabse zyada shares badal sakte hain. Alag sawaal, alag jawaab.
4 kadam aur unke niyam
Auction apna session hai. Continuous trading ki sirf poonchh nahi. 4 kadam hain. Jinmein participant kaam kar sakta hai, woh poore session se chhote hain.
| Kadam | Samay (IST) | Kya hota hai |
|---|---|---|
| Session 1 | 3:15 pm – 3:20 pm | Reference price ka hisaab. Continuous trading se auction mein badlaav. |
| Session 2 | 3:20 pm – 3:25 pm | Order entry. Limit aur market orders dono manzoor. |
| Session 3 | 3:25 pm – 3:30 pm | Sirf limit order entry. Market orders badal ya cancel nahi sakte. Aakhri 2 minute mein random close. |
| Session 4 | 3:30 pm – 3:35 pm | Orders ki matching. |
Teesra kadam theek ghadi par band nahi hota. System 3:28 pm se 3:30 pm IST ke beech random pal chunta hai. Order entry ka exact close pehle nahi pata.
- Sirf limit aur market orders manzoor hain. Dono equilibrium price mein gine jaate hain.
- Quantity chhupa nahi sakte. Poora order dikhana hai. Iceberg orders manzoor nahi.
- Trigger price tak rukne waale orders auction mein nahi. Continuous trading se bhi carry nahi hote.
- Continuous trading ke bache limit orders aate hain, jab tak auction price band se baahar na hon. Unki time priority auction ke naye orders se upar hai. Badalne par priority chhoot ti hai.
- Market orders pehle match hote hain. Aapas mein samay ke kram par equilibrium price par. Phir limit orders se price-time ke kram par. Bache limit orders aapas mein match hote hain.
- Auction price band reference ka plus ya minus 3% hai.
Auction mein exchange alag aankde deta hai. Indicative equilibrium price, kul buy aur sell quantity, equilibrium ka imbalance, sirf market orders ka imbalance aur indicative index. Continuous trading se yeh jaanboojhkar alag hain. Jab execution nahi, tab last traded price publish karne ko nahi.
Din ke aakhir ka samay
Neeche har seema 2 circulars mein se kisi numbered paragraph se hai. Column 4 batata hai kaunsa. August 2026 se pehle ka timetable inhe galat dega. Usmein sirf 1 close ka samay tha.
| Samay (IST) | Segment | Kya hai | Source |
|---|---|---|---|
| 2:45 pm – 3:15 pm | Equity cash aur stock futures | Price-band framework mein continuous trading ka ab maana aakhri 30 minute. | NSE/CMTR/73362, para 3.2.1.1 |
| 3:00 pm – 3:15 pm | Equity cash | In trades ka volume-weighted average auction reference banta hai. | SEBI circular, para 4.3.1 aur NSE/CMTR/73362, para 2.1 |
| 3:15 pm – 3:35 pm | Equity cash, pehle hisse ke shares | Upar ke 4 kadmon ka closing auction. | SEBI circular, para 4.2.1 |
| 3:15 pm – 3:40 pm | Stock futures | Price band auction ke band se milta hai. Is samay stock-futures band ka aam dynamic badlaav nahi. | SEBI circular, para 4.4.2 aur NSE/CMTR/73362, para 3.2.1.1 |
| 3:40 pm tak | Equity derivatives | Segment chalta hai. Poore din 9:00 am se 3:40 pm tak option price bands wahi hain, auction sahit. | SEBI circular, para 4.2.3 aur NSE/CMTR/73362, para 3.2.2.1 |
| 3:50 pm – 4:00 pm | Equity cash | Post-close session. Trades closing price par hote hain. | SEBI circular, para 4.2.4 |
Sirf timings padhne waalon ko pehli row hairaan karti hai. Exchange ne sirf session nahi joda. Price-band framework ke liye aakhri continuous 30 minute ki paribhasha bhi badli. Woh ab auction se pehle hai.
Bazaar band hone ka ab sirf 1 samay nahi. Kai hain. Segment tay karta hai kaunsa. Cash segment mein khaas share bhi tay karta hai.
Sirf kuch shares. Isi liye index ki 2 values
Dono circulars badlaav hisso mein kehte hain. Pehle cash ke un shares ka close auction se hai jinpar derivative contracts hain. Baaki securities purana tareeka rakhti hain. Continuous trading ke aakhri 30 minute ka volume-weighted average.
Exchange iska asar saaf karta hai. Index mein dono hisso ke shares ho sakte hain. Auction mein kuch shares hain aur baaki continuous trade karte hain. Isliye exchange 2 numbers deta hai. Asal index last traded prices se. Indicative index close auction shares ke indicative equilibrium se. Baaki shares ke liye 3:00 pm se volume-weighted average leta hai.
Expiry contract settle karne waala number
Isliye cash mein kabhi order na dene waale par bhi asar hai. Wahi SEBI circular settlement-price ka master-circular paragraph badalta hai. Expiry par underlying index ka close settlement price hai. Index ka close uske shares ke closing prices se banta hai.
Stock derivatives ka saath waala paragraph bhi badla. Clearing corporations settlement price nikaalti hain. Sab exchanges mein share ke cash closing prices ka volume-weighted average aadhaar hai.
Kadi 1 disha mein hai. Auction share ka close tay karta hai. Shares ke closes index ka close. Expiry din index ka close expiring contract settle karta hai. Kadi ke shuru ka yeh tareeka is saal se pehle cash close mein nahi tha.
Expiry-day settlement ki paribhasha nahi badli. Usmein chahiye closing price kahan se aata hai, woh badla.
Kya nahi badla aur kaunsi tareekh baaki hai
- Futures aur options segment ka apna closing price. Exchange guidelines ke mutaabik purana tareeka jaari hai.
- Pehle hisse se baahar securities ka close. Abhi bhi continuous trading ke aakhri 30 minute ka volume-weighted average.
- Option price bands. Exchange poore din 9:00 am se 3:40 pm tak wahi kehta hai, auction sahit.
Wahi SEBI circular pre-open bhi badalta hai. Uski alag lagu tareekh 7 Sept 2026 hai. Tab se 9:00 am se 9:15 am ke andar 4 kadam. 9:00 am se limit aur market orders. 9:05 am se sirf limit, aakhri 2 minute random close. 9:10 am se 2 minute matching. Phir 9:12 am se 3 minute continuous trading mein orders le jaana.
Is post ki seema
- Post circulars batata hai. Broker auction ko order screen mein kaise dikhata hai, yeh nahi. Woh badalta hai.
- Pehla hissa fixed listed shares se nahi, shart se hai. Share par derivative contract hona. Contracts aane aur hatne se shart badalti hai.
- Bareek niyam operating procedures mein hain. Exchanges aur clearing corporations ko unhe likhne ko kaha. Baad ke circulars badal sakte hain. Har source par aakhri jaanch ki tareekh hai.
- Market structure batata hai ki kaun kahan trade karta hai aur orders kaise milte hain. Agla price nahi batata.
Woh documents jin par yeh post tiki hai
Har card ek asli document hai, apne reference number aur date ke saath. Us par is post ka kaunsa hissa tika hai, aur kisi ne use aakhri baar kab khola, yeh bhi likha hai.
Poora framework. Para 1 purana tareeka. 4.1 hisso mein laagu hona. 4.2 timings. 4.3 reference price aur 4.4 bands. 4.5 se 4.8 order types, equilibrium, execution kram aur continuous trading se aaye orders. 4.9 stock aur index derivatives settlement. 4.12 auction mein published aankde. Para 5 pre-open badlaav. Para 6 dono lagu tareekhein.
Exchange ki operating hidaayat. Para 1.1 hisso mein laagu hona. 2.1 se 2.3 reference price, stock futures sahit. 3.1 aur 3.2 bands aur continuous trading ka aakhri 30 minute. Para 4 manzoor orders. Para 5 cash aur F&O ka daily close. 6.5 auction mein 2 index values ki wajah.
Derivatives badlaav ki live tareekh pakki karta hai. Pehle Saturday ka mock session bhi kehta hai. Peeche ke 2 circulars NSE/CMTR/73362, 18 Mar 2026 aur NSE/FAOP/74467, 29 May 2026 hain. Doosra yahan cited nahi, kyunki post ke liye khola nahi.
Sources
Agar yahan ka koi figure apne source se alag lage, toh source par bharosa kijiye.
Ise number mein dekho
Aksar poochhe sawaal
Kya NSE closing price abhi bhi aakhri 30 minute ka ausat hai?
Derivative contracts waale share ke liye nahi. 3 Aug 2026 se closing auction ka equilibrium price hai. Ausat sirf reference aur fallback mein bacha. Pehle hisse se baahar securities ke liye haan. Wahan continuous trading ke aakhri 30 minute ka volume-weighted average hai.
Ab bazaar kab band hota hai?
Sirf 1 jawaab nahi. Auction waale share ki continuous trading 3:15 pm par auction ko jagah deti hai. Auction 3:35 pm IST khatam. Equity derivatives 3:40 pm tak. Cash post-close 3:50 pm se 4:00 pm.
Equilibrium price kya hai?
Woh 1 price jahan auction ke jama orders ki sabse zyada quantity match ho. Har auction trade usi par. Kai prices ka volume barabar ho to sabse kam unmatched quantity chunte hain. Phir reference ke sabse paas price.
Kya expiry index contract ka settlement badla?
Paribhasha nahi. Contract expiry din index ke close par settle hai. Index ka close uske shares ke closes se hai. Share ka closing price banne ka tareeka badla. Yeh derivative contracts waale shares par lagu hai.
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