India's benchmark Nifty saw another sharp late-session move on Tuesday, jumping nearly 150 points in the final few minutes during the closing auction window, a day after a similar end-of-day spike of around 200 points surprised traders. The index still ended lower for the day, closing at 24,614, down 159 points, or 0.64%. But the late rebound helped it recover from the day’s low of 24,427 and close well above the bottom.
The move came as traders continued to adjust to the newly introduced Closing Auction Session, or CAS, which has changed how the closing prices of large F&O stocks are decided. The system came into effect from August 3 and applies to stocks that are part of the futures and options list.
