Amid mounting concerns from traders over the Closing Auction Session (CAS), capital markets regulator the Securities and Exchange Board of India (Sebi) said the mechanism was introduced to align the determination of closing prices in the equity cash segment with global practices while ensuring fair, equal, and transparent access to all categories of investors, according to its latest annual report.
The clarification comes as Dalal Street traders have been raising concerns over the new closing mechanism, citing the unpredictability of recent index and stock price movements and the resulting losses.
