Indian equities ended lower on Thursday after a volatile closing session, with the new auction-based closing price mechanism again coming under market scrutiny on a monthly derivatives expiry day. The Sensex saw a sharp late-session swing, moving from around 77,200 at 3:17 pm to about 74,983 at 3:23 pm, a move of more than 2,000 points in just a few minutes. The index later settled at 76,933, down 0.7% for the day. The Nifty ended 0.48% lower.
The move came as traders faced the first monthly derivatives expiry under the Closing Auction Session, or CAS, framework. The system, launched on August 3, uses an auction-based mechanism to determine closing prices of stocks.
